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EDC Minutes December 18, 2015 Page 2 of 5 Motion/Second: Commissioner Freichels moved and Commissioner Helgemoe seconded the approval of Resolution No. 15 -EDC -39 establishing the calendar of meeting dates for 2016 starting at 7:30 a.m. Motion Carried: 5 Ayes, 0 Nays EDC Applications Next, Chair Helgemoe presented the background on the EDC Applicants, stating there are three seats open and there were three applicants. Commissioner Freichels, and Helgemoe submitted applications for the two Business Representative openings, and Commissioner Stevenson submitted an application for the Resident Representative opening. Helgemoe stated that all three openings were for the term starting January 1, 2016 and ending December 31, 2018. Helgemoe called for a motion. Helgemoe thanked Commissioners Freichels and Stevenson for serving on the EDC and expressed his gratitude for the opportunity to serve. Motion/Second: Commissioner Larson moved and Commissioner Rieland seconded the approval of both Commissioner Freichels and Helgemoe as the Business Representatives and Commissioner Stevenson as the Resident Representative for terms starting January 1, 2016 and ending December 31, 2018 and made a recommendation to the EDA on same. Motion Carried: 5 Ayes, 0 Nays 6. REPORTS OF STAFF Crossroad Point Redevelopment Prosect Business Development Coordinator, Beeman provided the Commission with an update on the Crossroad Pointe redevelopment site. Beeman stated the EDA heard comments from The Beard Group on November 23, 2015 who requested to build a three level apartment structure as Phase I, the square shaped 2.05 acre area and use Phase II, the 1.78 acre triangular shaped property next to County Road 10 as a staging area. Phase I would be a 119 units with underground parking. The EDA reviewed and discussed the idea and ultimately decided to approve The Beard Group constructing in phases. One EDA Member expressed his concern with allowing apartments on this site and that the site was to be a destination and in his opinion, apartments are not a destination. However, with the TCAAP site being developed, the EDA unanimously approved allowing a phased development for apartments. The next step is to approve the pre -development agreement, then the actual development agreement. Once approved, The Beard Group is hoping to start construction at the end of the first quarter in 2016 or the beginning of the second quarter. It is assumed that the Beard Group will be submitting an application for a Redevelopment TIF which is why the EDC and EDA are reviewing and approving updates to all of the financial incentive policies.