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7. Official Newspaper <br />Quad Community Press <br />8. Legal Depositories <br />First Resource Bank <br />LMC 4M Fund <br />PMA Financial Networks <br />PMA Securities <br />Moreton Capital Markets <br />US Bank <br />9. Legal Services <br />Kennedy & Graven, <br />Squires, Waldspurger, & Mace, <br />P.A. <br />10. Financial Advisor <br />Ehlers <br />RESULT: CARRIED [UNANIMOUS] <br />MOVER: Rafferty <br />SECONDER: Cavegn <br />AYES: Stoesz, Lyden, Ruhland, Rafferty and Cavegn. <br />4. 2024 ANNUAL REPORT <br />The Community Development Director stated that each year staff is required to provide a <br />recap of the prior year activities undertaken by the board. In 2024, the EDA undertook <br />the following development activities. <br />1. Approved the acquisition of tax forfeit property in the Apollo Business Park (PIN <br />18-31-22-41-0011). <br />Overall, the City continued to see development activity in 2024. In 2024 new residential <br />construction permits totaled 124. This is a slight increase over 2023 but substantially <br />under projected growth. Total building permit valuation increased from $57,600,000 in <br />2023 to approximately $75,600,000 in 2024. <br />Commercial activity included the opening of Culvers, Milestones Learning Center, <br />Heartland Dental, and Starbucks. Approximately 76,000 square feet of industrial space <br />was added including Figi Cube, Lino Tech Center, and Sterling Plastics. <br />The City entered into a purchase agreement with Java Companies, to sell approximately <br />2.0 acres of City property adjacent to Lake and 77th Street. This is part of a multi -property <br />redevelopment project that includes the realignment of 77th Street to the Market Place <br />