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r <br /> MINUTES FOR THE EDA MEETING OF MAY 14, 2012 <br /> Miron called the meeting to order at 8:33 am. <br /> PRESENT: Arcand, Bever, Denaway, Klein, Puleo, and Miron <br /> ABSENT: Graff <br /> STAFF: Bryan Bear, City Administrator <br /> Rachel Juba, Planner <br /> APPROVAL OF MINUTES FOR THE EDA MEETING OF APRIL 9, 2012 <br /> Klein made motion, Puleo seconded, to approve minutes for the EDA meeting of April 9, <br /> 2012 <br /> All aye. Motion carried. <br /> INSURANCE ADVISORS—GREG YOUNG INSURANCE AGENCY <br /> Staff invited Greg Young from Greg Young Insurance Agency, a new business in Hugo. <br /> The business is located in the Bald Eagle Industrial Park in Grant Barrett's office <br /> building on Fenway Boulevard Circle. A few months ago Mr. Barrett had a vacancy in <br /> his building and he created three smaller offices for flexible office space. Mr. Young is <br /> leasing one of the offices for his business. <br /> Mr. Young stated that he started leasing space from Grant Barrett this year and has been <br /> involve with the HBA and BNI over the last few months. He stated that his agency works <br /> with over 40 insurance companies to provide the best coverage for each individual. The <br /> flexible office space is working well for Mr. Young since his clients are from different <br /> cities in the metro area. <br /> Miron asked if Mr. Young would buy office space in the future. Mr. Young stated not at <br /> this time. The flexible office space is working well for Mr. Young since his clients are <br /> from different cities in the metro area and a lot of the work is completed via email. He <br /> stated that if he were to acquire more employees he may be open to owning office space. <br /> Miron asked what the EDA can do for Mr. Young's business. Mr. Young stated that the <br /> City continuing to be involved in business events like Kidz n' Biz fest. The networking <br /> between businesses is really important. <br /> The EDA welcomed Greg Young as a new business owner in Hugo <br /> DISCUSSION ON THE PURCHASE AGREEMENT FOR THE CITY OWNED <br /> PROPERTY <br /> The development team had discussion with the EDA on a year extension of the purchase <br /> agreement for the property. The purchase agreement expires June 6,2012. <br /> At its February 13, 2012, meeting the EDA heard from the development team on its <br /> marketing efforts for the property. The development team presented several iterations of <br />