01.19.16 EDA Packet - Laserfiche WebLink

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MINUTES FOR THE EDA MEETING OF DECEMBER 15, 2015 Chair Weidt called the meeting to order at 5:04 pm. PRESENT: Denaway, Gallivan, Houle, Klein, Petty, Weidt. ABSENT: Puleo. STAFF: Rachel Juba, Planner Bryan Bear, City Administrator Rachel Leitz, Community Development Assistant APPROVAL OF MINUTES FOR THE EDA MEETING OF NOVEMBER 17 2015 Klein made motion, Gallivan seconded, to approve minutes for the EDA meeting of November 17, 2015. All Ayes. Motion carried DISCUSSION ON MARKETING OF CITY -OWNED PROPERTY Juba provided the EDA with the background summary of the parcels the City owns and the process the City has went through in marketing the properties for redevelopment. This summary included the approved development criteria, the meeting with the St. Paul Port Authority, creating a summary of financing options, putting together a marketing brochure and flyers, reaching out to brokers, and meeting with interested parties. Juba stated that staff would like to have a conversation with the EDA regarding future marketing of the City -owned property. She listed three potential options that the EDA could consider: Staff to continue to market the property while attending more commercial broker events, to contract with the St. Paul Port Authority for brokerage or consulting services, or to pursue another path. Commissioner Petty asked if staff knew how long of a contract is required if a brokerage firm was brought in for support. Juba stated had received a sample agreement that she can look over, but believes the contract length could be negotiated. Commissioner Petty stated that she liked the idea of a concept plan being put together for the property, but isn't sure how long such a thing would take and how much money that would cost. Juba reminded the EDA that the City does have a few concept plans for this site already prepared. Commissioner Denaway stated that he would like to see a brokerage service utilized in marketing the property. He stated that the City could potentially change the cost of the property to something similar to $1.00 plus the commission fee, which would cover the 5-7% commission fee the St. Paul Port Authority would charge. Denaway described that the broker the City previously hired didn't give the City the results that were wanted so then staff gave it a try and now it may be time to go back to finding a broker. Denaway stated that he didn't believe the City was losing anything, especially if the property didn't sell. Chair Weidt asked staff if people are looking for properties in the winter or if this is a discussion that should occur in the spring.