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A <br /> BACKGROUND MEMO FOR THE EDA MEETING OF <br /> MONDAY, May 9, 2011 <br /> 3. APPROVAL OF MINUTES <br /> Staff recommends approval of the minutes from the April 11, 2011, EDA Meeting as <br /> presented. <br /> a. DISCUSSION ON CITY OWNED PROPERTY MARKETING EFFORTS AND <br /> PURCHASE AGREEMENT <br /> The development team would like to have a discussion with the EDA on their marketing <br /> efforts for the City owned property. They will make a presentation to the EDA. The <br /> development team would also like to have a discussion on a year extension of the <br /> purchase agreement for the property. The purchase agreement expires June 21, 2011. <br /> 5. DISCUSSION ON FLEXIBLE OFFICE SPACE <br /> At the April EDA meeting there was discussion on flexible office space and possible <br /> opportunities in Hugo. Commissioner Graff started the discussion and stated that he <br /> would like to meet with property owners that have vacant space and talk to them about <br /> this concept. The EDA directed staff to work with Commissioner Graff and set up <br /> meetings with property owners. <br /> Staff and Commissioner Graff met with Matt Alexander and Jack Appert from Kraus- <br /> Anderson, who owns the Healtheast Building and has vacant space. They have heard of <br /> flexible office space, but Kraus-Anderson has not used the concept before. They <br /> mentioned a company called Regus that purchases space and converts it into flexible <br /> office space. In regards to the Healtheast vacant space, Kraus-Anderson has not finished <br /> the space. The space would need to be finished and furnished. This is not an expense they <br /> would be willing to incur to accommodate for flexible office space. They also stated that <br /> the space would need to be managed and they do not see Kraus-Anderson managing the <br /> short-term lease involved with flexible office space, but would be open to a company <br /> leasing the vacant space to operate and manage flexible office space. <br /> Staff and Commissioner Graff will be contacting other property owners that have vacant <br /> space. <br /> Commissioner Graff would like to discuss the outcome of the meeting and other <br /> information he has gathered for flexible office space. <br /> Mike Brass, Welsh Co., will also be present at the meeting and will provide examples of <br /> where it has worked in the surrounding areas and the best ways the concept works. <br /> 6. DISCUSSION ON COMMERCIAL AND INDUSTRIAL DESIGN GUIDELINES <br /> Please see attached staff report and draft of design guidelines. <br /> 7. DISCUSSION ON TAX ABATEMENT <br />