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PROPOSED PURCHASE OF ANTIQUE STORE/OLD NADEAU'S BUILDING <br />At its August 16, 2004 meeting, Council directed staff to proceed with negotiations with Mike and <br />Catherine Anderson for the purchase of the antique store, formerly doing business as the old Nadeau's <br />Market. Staff has inspected the building, and has had several meetings with City Assessor Frank Langer <br />and the Andersons, and is prepared to present a purchase agreement, subject and contingent to a funding <br />Source. At its October 4, 2004 meeting, Council directed this matter be placed on the agenda for the first <br />EDA meeting and direct staff to find a funding source for purchase of the property. <br />Community Development Director Bryan Bear informed the Authority about the newly created <br />Community Development Block Grant (CDBG) program from Washington County. Washington County <br />recently became an entitlement County meaning it is now able to receive Federal funding through the <br />Department of Housing to help fund projects beneficial to populations with low and moderate income. <br />Bryan stated that the purchase of the antique store, and the remaining non -City owned parcels along Egg <br />Lake, could be eligible to receive CDBG funds. Bryan also stated that he would be attending an <br />informational meeting, regarding CDBG, with Washington County on November 7, 2004 and that any <br />interested Board members would be welcome to attend. <br />The Board directed staff to attend the meeting with Washington County and to report back. No formal <br />Board action was taken. <br />ADJOURNMENT <br />Arcand made motion, Klein seconded, to adjourn the meeting at 10:30 am. <br />All Aye. Motion Carried. <br />Tom Denaway <br />Administrative Intern <br />