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2009.12.14 EDA Packet
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2009.12.14 EDA Packet
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Commissions
Meeting Date
12/14/2009
Document Type
Agenda/Packets
Commission Name
EDA
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MINUTES FOR THE EDA MEETING OF NOVEMBER 9, 2009 <br /> EDA Vice President Phil Klein called the meeting to order at 8:30 am. <br /> PRESENT: Jan Arcand, Jim Bever, Tom Denaway, Mike Granger Phil Klein, and Fran <br /> Miron <br /> ABSENT: Brian Thistle <br /> CITY STAFF PRESENT: City Administrator Mike Ericson, Community Development <br /> Director Bryan Bear, Associate Planner Rachel Simone, and Shayla Syverson, Economic <br /> Development/ Parks Intern <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF OCTOBER 12, 2009 <br /> Arcand made motion, Granger seconded, to approve the minutes for the EDA meeting of October 12, <br /> 2009. <br /> All ayes. Motion carried. <br /> DISCUSSION ON CITY OWNED PROPERTIES IN DOWNTOWN <br /> Mark Finnemann, Richard Fischer and their realtor Mike Brass were present at the meeting <br /> to showcase their plans for the City owned property in downtown. The team of developers <br /> has been to the EDA before to present their ideas for the City owned property. The plans <br /> included a mix of office, retail and residential uses. Included in the packet is the plan that <br /> they submitted for the EDA to review at the previous meetings. The team of developers also <br /> presented a letter of intent to purchase the City owned properties. They discussed the plans <br /> and the letter of intent with the EDA. Staff recommended that the EDA discuss with the <br /> developers the plans and the letter of intent to purchase the properties. <br /> The CD Director gave an overview of the previous meeting and the plans that were <br /> presented. The development team presented a new concept for the City owned property. <br /> They stated that they did not like the way the entrance is planned into the Carpenters <br /> Restaurant Property, but showed it on the plans. It showed a large park in the center and <br /> retail corner to the north close to 147th Street. It also showed two office buildings. <br /> They were presenting their plans for a one arce piece of the City owned property and would <br /> like to market the office buildings and property before construction. They talked about a <br /> public and private partnership with the City. The development team presented a letter of <br /> intent to purchase the properties and gave the EDA marketing information. It is planned to be <br /> a 1 — 1 V2 year project to market the properties and buildings. They want to have a ready to <br /> move in building. They would like the building to the south of the City owned property <br /> demolished. <br /> Mike Brass talked to the EDA about the commercial real estate market. He stated that office <br /> condo's are over built and are now selling for$100 per square foot, where they were <br /> previously selling for$200 per square foot. He stated that space planning for businesses is <br /> real and that he feels this is what businesses are now looking for. <br /> Granger asked if the development team was going to own the building or lease it out. The <br /> developers stated that their plan is to sell the buildings to an end user. <br />
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