HomeMy WebLinkAbout11-14-2022 EDA Minutes
EDA MINUTES
APPROVED
1 DATE : November 14, 2022
2 TIME STARTED : 6:55 p.m.
3 TIME ENDED : 7:05 p.m.
4 MEMBERS PRESENT : EDA Members Rafferty, Stoesz,
5 Cavegn, Ruhland
6 MEMBERS ABSENT : EDA Member Lyden
7 OTHERS PRESENT : Community Development Director
8 Michael Grochala; City Administrator
9 Sarah Cotton; City Clerk Julie Bartell
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11 The meeting was called to order at 6:55 p.m. by EDA President Ruhland
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13 CONSIDERATION OF THE MINUTES OF OCTOBER 10, 2022
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15 Economic Development Authority (EDA) Member Rafferty moved to approve the
16 minutes of October 10, 2022 as presented. EDA Member Stoesz seconded the motion.
17 Motion carried on a voice vote.
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19 ACTION ITEM
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21 3A) A. Consider Amendment to Purchase and Development Agreement with
22 Silver Creek Equity, LLC. , Lots 1-3, Outlot B & C, The Village No. 4 – Community
23 Development Director Grochala reviewed his written report. Noting elements of the
24 agreement in place regarding this property, he explained that the developer is requesting
25 amendment of the terms to allow multi-family development to begin prior to commercial
26 being committed and some future consideration for removing the requirement for
27 commercial use. The request is to amend the purchase agreement to allow time and
28 during that time staff will work with the development team on specific amendments for
29 consideration. Director Grochala reviewed some possible changes that will be discussed.
30 The developer and architect were present.
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32 EDA Member Stoesz asked about the 45 day allowance requested; would 90 days be
33 more appropriate? Mr. Grochala said he anticipates having something back in 45 days for
34 council consideration.
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36 EDA President Ruhland asked what would happen if the deadline passes – could permit
37 issuance be tied to the timeline.
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39 The developer noted satisfaction with the proposed timeline. They will work hard to get
40 the retail and there is time allowed for that.
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42 EDA Member Cavegn noted a previous meeting comment that if commercial isn’t
43 interested after five years from occupancy, they probably will not be.
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EDA MINUTES
APPROVED
1 EDA Member Rafferty moved to approve the extension of the due diligence period as
2 recommended by staff. EDA Member Cavegn seconded the motion. Motion carried on a
3 voice vote.
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5 The meeting was adjourned at 7:05p.m.
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