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MINUTES FOR THE EDA MEETING OF OCTOBER 8, 2013 <br /> Weidt called the meeting to order at 5:15 pm. <br /> PRESENT: Arcand, Denaway, Gallivan, Klein, Puleo, and Weidt <br /> ABSENT: Bever <br /> STAFF: Bryan Bear, City Administrator <br /> Rachel Juba, Planner <br /> Eric Maass, Community Development Intern <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF SEPTEMBER 10, <br /> 2013 <br /> Klein made motion, Denaway seconded, to approve minutes for the EDA meeting of <br /> September 10, 2013. <br /> All ayes. Motion carried. <br /> UPDATE ON MARKETING RFQ <br /> Rachel requested that Bryan provide the EDA with an update on his talks with the <br /> Lakeshore Players Theatre. Their interest in the land was important information for the <br /> EDA to consider as they moved forward with the potential selection of a marketing firm. <br /> Bryan informed the EDA that the City of Hugo was one of the locations being considered <br /> by the Lakeshore Players Theatre. The new theatre would have an approximate seating <br /> capacity of 286, and cost the Lakeshore Players about.4.5 million dollars to construct. <br /> Bryan stated he would inform the EDA when he received an update. <br /> Staff informed the EDA that they had received four applications from the marketing <br /> RFQ. The applicants were: Coldwell Banker, Bill Lentsch, Wakota Commercial <br /> Advisors/High Pointe Realty, and Northco Real Estate Services. Coldwell Banker and <br /> Bill Lentsch failed to provide much of the requested material located in the RFQ. <br /> Wakota Commerical Advisors/High Point Realty and Northco Real Estate Services <br /> provided much more complete applications. Wakota stated that they would require a 7% <br /> commission upon the sale of the land, or an 8.5% commission if the sale was a co- <br /> brokered transaction. Wakota stated they would complete a web based marketing <br /> campaign in addition to cold calling potential buyers, and providing signage on the <br /> property. Wakota demonstrated their experience with restaurants and commercial <br /> properties through a listing of successfully completed projects. Northco Real Estate <br /> Services stated they required a$0.50/square foot commission upon the sale of the land. <br /> Northco stated they would complete a web based marketing plan in addition to <br /> completing cold calls, creation and distribution of marketing brochures, as well as <br /> providing signage on the property. Northco demonstrated their experience with <br /> commercial and restaurant properties with a list of successful clients served. <br />