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Economic Development Advisory Committee <br />March 2, 2023 <br />Page 2 <br /> <br />Mr. Grochala said potentially a study would be done to look at the industrial and <br />commercial areas to determine design requirements in that area. Mr. Schueller expressed <br />a desire for EDAC to be part of the planning process. <br /> <br />B. Project Updates <br /> <br />Mr. Grochala updated the committee on current City projects. There was a lengthy <br />discussion on the moratorium and the water situation for new developments. A <br />question was raised regarding financial securities and whether the City had any specific <br />requirements. Mr. Grochala explained that the city require security in the form of cash <br />or letter of credit at 150% of the public improvement costs. He stated he would need <br />to look into any specific bank requirements. <br /> <br />4. ADJOURNMENT <br /> <br />Mr. Cravero made a motion to adjourn the meeting at 9:27 a.m. Motion was supported <br />by Mr. Hembre. Motion was carried 8 - 0. <br /> <br />Respectfully submitted, <br />Julie Whitney, Community Development Administrative Assistant <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />APPROVED MINUTES <br />