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BACKGROUND MEMO FOR THE EDA MEETING OF <br /> MONDAY, August 9, 2010 <br /> 3. APPROVAL OF MINUTES <br /> Staff recommends approval of the minutes from the JUIV 12, 2010 EDA Meeting as <br /> presented. <br /> 4. DISCUSSION ON LETTER TO RIVER BANK— RICCI'S BUILDING <br /> Staff has been working with the representative of the River Bank that owns the Ricci's <br /> property on the demolition of the building. The property owners are interested in <br /> demolishing the building, but know that there are constraints on the property that limit <br /> what can be developed there. Staff has drafted a letter for discussion with the EDA on <br /> what the City would be willing to help the property owner with as they redevelop the <br /> property. Staff recommends that the EDA review the draft letter and provide feedback to <br /> staff. <br /> 5. UPDATE ON DOWNTOWN REDEVELOPMENT <br /> Staff will update the EDA on downtown redevelopment. <br /> 6. UPDATE ON THE BR&E IMPLEMENTATION PROJECT TEAMS <br /> Staff made a presentation to the HBA on the BR&E Marketing and Events <br /> implementation project teams at its July 13, 2010, meeting. The outcome was to have a <br /> BR&E and HBA joint meeting on the implementation project and distinguish roles of the <br /> City and the HBA on each goal. The joint meeting is on August 17, 2010. Staff will <br /> update the EDA on the HBA meeting presentation on the BR&E implementation project <br /> teams. <br /> 7. DISCUSSION ON THE PARK DEDICATION FEES <br /> The City of Hugo Parks, Recreation and Open Space Commission discussed possible <br /> revisions to the Park Dedication Policy at their July 14, 2010 meeting. Currently, the <br /> Park Dedication Policy requires payment of$2,400 per acre with any commercial or <br /> industrial development. All funds that are dedicated are used by the Parks Commission <br /> to build new park facilities, which help meet the increased demand for parks brought by <br /> the development. The majority of funds received through dedication are from residential <br /> developments. Approximately $10,000 in park dedication has been paid to the city for <br /> commercial and industrial development between 1999 and 2009. Some cities do not <br /> require park dedication with commercial and industrial development. Parks Planner <br /> Shayla Syverson will discuss the Park Dedication Policy. <br />