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EDA Meeting#45 '' ab°°' <br /> November 10, 1997 <br /> Page 2 <br /> 1 Preferred Builders has offered$28,000 for the land and is proposing to build a three bedroom modified two <br /> 2 story single family home. Upon approval of the Participation Agreement the EDA and Preferred Builders will <br /> 3 have 30 days to enter into a Contract for Private Development which will specifically address the requirements <br /> 4 for the development of the lot and outline the specifications of the home. In addition,prior to approval of the <br /> 5 contract,staff will verify builder references and financial capabilities of Preferred Builders,Inc. The contract <br /> 6 will come back to the EDA for final approval prior to execution. <br /> 7 <br /> 8 Mr.Stigney inquired as to when the contractor will begin construction of the home. Ms.Bennett stated she <br /> 9 believed they would be starting as soon as possible. <br /> 10 <br /> 11 MOTION/SECOND: Stigney/Quick to approve Resolution No.97-EDA-75,Approving and Authorizing the <br /> 12 Execution of a Participation Agreement for 8365 Spring Lake Road. <br /> 13 <br /> 14 VOTE: 3 ayes 0 nays Motion Carried <br /> 15 <br /> 16 acting on any agreement. <br /> 17 <br /> 18 F. REPORTS: <br /> 19 <br /> 20 Report of EDA Board Members: <br /> 21 •22 Report of President McCarty: . No report <br /> 23 <br /> 24 Report of Vice President Koopmeiners: No report. <br /> 25 <br /> 26 Report of Commissioners: <br /> 27 <br /> 28 Commissioner Quick: No report. <br /> 29 <br /> 30 Commissioner Stigney: No report <br /> 31 <br /> 32 Report of Executive Director: No report. <br /> 33 <br /> 34 Report of Treasurer: No report. <br /> 35 <br /> 36 Report of Attorney: No report <br /> 37 <br /> 38 G. ADJOURNMENT: <br /> 39 <br /> 40 MOTION/SECOND: Quick/Stigney to adjourn the meeting at 7:45 p.m. <br /> 41 <br /> 42 VOTE: 3 ayes 0 nays Motion Carried <br /> 43 <br /> 44 <br /> 45 Respectfully submitted, <br /> 47 - • <br /> - <br /> 48 Tamara D.Saeflce • <br /> 49 Recording Secretary <br />