HomeMy WebLinkAbout12-12-2022 EDA Minutes
EDA MINUTES
APPPROVED
1 DATE : December 12, 2022
2 TIME STARTED : 7:30 p.m.
3 TIME ENDED : 7:38 p.m.
4 MEMBERS PRESENT : EDA Members Rafferty, Stoesz,
5 Cavegn, Ruhland, Lyden
6 MEMBERS ABSENT :
7 OTHERS PRESENT : Community Development Director
8 Michael Grochala; City Administrator
9 Sarah Cotton; City Clerk Julie Bartell
10
11 The meeting was called to order at 7:30 p.m. by EDA President Ruhland
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13 CONSIDERATION OF THE MINUTES OF NOVEMBER 14, 2022 AND
14 DECEMBER 5, 2022
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16 Economic Development Authority (EDA) Member Cavegn moved to approve the minutes
17 of November 14, 2022 and December 5, 2022 as presented. EDA Member Lyden
18 seconded the motion. Motion carried on a voice vote.
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20 ACTION ITEM
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22 3A) A. Consider Amendment to Purchase and Development Agreement with
23 Silver Creek Equity, LLC. , Lots 1-3, Outlot B & C, The Village No. 4 - Community
24 Development Director Grochala summarized the written report and reviewed discussion of
25 this subject over the past months. Based on last week’s EDA work session discussion,
26 the board directed staff to put together an amendment related to Option 3 – amend
27 purchase agreement to allow for extensions to due diligence period with additional,
28 partially non-refundable, earnest money deposits. Remaining elements of the agreement
29 would remain intact, with the adjustment of some. The amendment would allow the
30 buyer to extend the due diligence period several times with a deposit. Only half of earnest
31 money is refundable. Other elements of the agreement were reviewed.
32
33 Councilmember Stoesz asked if zoning changes will be required and Community
34 Development Director Grochala noted that there are anticipated modifications to the PUD
35 and there could be some other minor changes.
36
37 Councilmember Lyden asked Director Grochala for his opinion on the amendment. Mr.
38 Grochala said based on the developers current concerns and the council concerns, this
39 option allows for time to bring forward commercial. Mr. Grochala added that, contingent
40 upon the amendment, the developer will be bringing in a broker and adding signs to the
41 site.
42
43 Councilmember Stoesz asked what happens if Silver Creek Equity changes in some way
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EDA MINUTES
APPPROVED
44 (i.e. membership, name). Mr. Grochala explained that the agreement is with a specific
45 entity.
46
47 EDA Member Rafferty moved to approve Resolution No. 22-03. EDA Member Lyden
48 seconded the motion. Motion carried on a voice vote.
49
50 The meeting was adjourned at 7: 38 p.m.
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