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MINUTES FOR THE EDA MEETING OF JUNE 13, 2011 <br />Miron called the meeting to order at 8:30 am. <br />PRESENT: Arcand, Bever, Graff, Puleo, and Miron <br />ABSENT: Denaway and Klein <br />STAFF: Mike Ericson, City Administrator <br />Bryan Bear, Community Development Director <br />Rachel Juba, Planner <br />APPROVAL OF MINUTES FOR THE EDA MEETING OF MAY 9, 2011 <br />Arcand made motion, Bever seconded, to approve minutes for the EDA meeting of May 9, <br />2011. <br />All aye. Motion carried. <br />DISCUSSION ON PEARSON MECHANICAL BUILDING - 13497 FENWAY <br />BOULEVARD NORTH <br />The Pearson Mechanical building and property located at 13497 Fenway Boulevard North is <br />now available for sale or lease. North Star Bank holds the mortgage on the property and has <br />been working with the current owner to sell or lease the property. Jack Ritt, Chairman/CEO <br />of North Star Bank, had a discussion with the EDA on the availability of the building. He <br />wanted to make a connection with the EDA and the City as he markets the property. <br />Commissioner Graff stated that the bank should note that there is rail access in the BEIP. <br />DISCUSSION ON FLEXIBLE OFFICE SPACE <br />At the April EDA meeting there was discussion on flexible office space and possible <br />opportunities in Hugo. Commissioner Graff started the discussion and stated that he would <br />like to meet with property owners that have vacant space and talk to them about this concept. <br />The EDA directed staff to work with Commissioner Graff and set up meetings with property <br />owners. <br />Staff and Commissioner Graff met with Matt Alexander and Jack Appert from Kraus - <br />Anderson, who owns the Healtheast Building and has vacant space. They have heard of <br />flexible office space, but Kraus -Anderson has not used the concept before. They mentioned a <br />company called Regus that purchases space and converts it into flexible office space. In <br />regards to the Healtheast vacant space, Kraus -Anderson has not finished the space. The space <br />would need to be finished and furnished. This is not an expense they would be willing to <br />incur to accommodate for flexible office space. They also stated that the space would need to <br />be managed and they do not see Kraus -Anderson managing the short-term lease involved <br />with flexible office space, but would be open to a company leasing the vacant space to <br />operate and manage flexible office space. <br />