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E.1 DISCUSSION OF LOT 1, BLOCK 1 IN BALD EAGLE INDUSTRIAL PARK <br />5TH ADDITION <br />The City of Hugo has a vacant lot in the Bald Eagle Industrial Park (BEIP). The City <br />was recently informed by the developer in possession of the lot hold agreement that he <br />would be relinquishing his hold on the lot as a result of their deal not coming together. <br />Staff has been in discussion with the current developer, and other potential developers of <br />the site, regarding potential uses of the sight. Staff would like to use this opportunity to <br />further inform the EDA about this situation. Specifically, Staff would like the EDA to <br />provide direction regarding the future of Lot 1, Block 1 in BEIP 5th. <br />The EDA board expressed its desire to see development occur on this site, but also <br />expressed the need to have more time to further discuss the potential of the property, and <br />the most appropriate means of proceeding. <br />Granger made motion, Klein seconded for the EDA to make a recommendation to the <br />City Council to accept Jim Faulkner's release of the lot -hold agreement, and to take the <br />property off the market until the EDA has developed a formal marketing approach for the <br />property. <br />All Aye. Motion Carried. <br />E. 2 CHANGE OF DATE AND TIME FOR JANUARY EDA MEETING <br />The regular January EDA meeting date also happens to be Martin Luther King Day, and <br />the City will be closed. Staff requested Board direction regarding the selection of an <br />alternate date in January. <br />Klein made motion, Granger seconded to schedule the January EDA meeting for January <br />24, 2005, to coincide with the City Council meeting scheduled for the same day. <br />F. ADJOURNMENT <br />Granger made motion, Arcand seconded to adjourn the meeting at 11:00 a.m. <br />All Aye. Motion Carried. <br />