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road extension. The EDA also discussed how the cost sharing would work with the five-year payback <br />period. <br />Blake Schwieters addressed the EDA on behalf of Victor Land Holdings, LLC. Schwieters stated that <br />the company has been expanding rapidly and continues to grow. The additional building will expand <br />the capacity of existing operations and will add an additional 40 employees to their company. <br />Chair Weidt asked Schwieters about the traffic that could be expected with the additional building on <br />site. Schwieters responded that circulation will exist within the site, however, there will be more <br />activity on 140th Street. <br />Commissioner Denaway motioned to approve the recommendation of the cost sharing of the design <br />and construction of 140th Street between the City and Victor Land Holdings, LLC, seconded by <br />Commissioner Puleo. <br />All ayes. Motioned carried. The recommendation will go to the City Council. <br />UPDATE ON DOWNTOWN REDEVELOPMENT <br />Staff provided an update on downtown redevelopment. Denny Trooien has submitted his land use <br />applications for the Downtown Hugo project and staff shared the preliminary site plan to the EDA. <br />UPDATE ON LIONS PARK REDEVELOPMENT AND DOWNTOWN STREET IMPROVEMENTS <br />Staff provided an update on Lions Park redevelopment. <br />ADJOURNMENT <br />Commissioner Klein made a motion, seconded by Commissioner Gallivan, to adjourn at 6:23 pm. <br />Ayes: <br />Nay: None. Motion Carried. <br />Respectfully submitted. <br />Emily Weber, Community Development Assistant <br />