HomeMy WebLinkAbout12-05-2022 EDA Minutes
EDA MINUTES
APPROVED
1 DATE : December 12, 2022
2 TIME STARTED : 5:30 p.m.
3 TIME ENDED : 6:00 p.m.
4 MEMBERS PRESENT : EDA Members Lyden, Stoesz, Cavegn,
5 Ruhland, Rafferty
6 MEMBERS ABSENT :
7 OTHERS PRESENT : Community Development Director
8 Michael Grochala; City Administrator
9 Sarah Cotton; City Clerk Julie Bartell
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11 The work session meeting was called to order at p.m. by EDA President Ruhland.
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13 ACTION ITEM
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15 3A) Discuss Amendment to Purchase and Development Agreement with Silver
16 Creek Equity, LLC. , Lots 1-3, Outlot B & C, The Village No. 4- Community
17 Development Director Grochala recalled the council’s last discussion of this topic. As
18 background he noted that the existing agreement requires development of a commercial
19 element prior to or concurrent with multi-family. The developer had asked to move the
20 commercial requirement forward and eventually cap that clause if commercial doesn’t
21 come forward. In consideration of the council’s discussion, staff is presenting three
22 options to move forward – Option one is no change to the purchase agreement (developer
23 at this point not willing to move forward with this option); Option two would amend the
24 purchase agreement to allow the multi-family building to proceed without prior or
25 concurrent construction of retail/restaurant building; Option 3 would amend the purchase
26 agreement to allow for extensions to the due diligence period with additional, partially
27 non-refundable, earnest money deposits.
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31 The meeting was adjourned at 6:00 p.m.
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