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MINUTES FOR THE EDA MEETING OF MAY 14, 2012 <br />Miron called the meeting to order at 8:33 am. <br />PRESENT: Arcand, Bever, Denaway, Klein, Puleo, and Miron <br />ABSENT: Graff <br />STAFF: Bryan Bear, City Administrator <br />Rachel Juba, Planner <br />APPROVAL OF MINUTES FOR THE EDA MEETING OF APRIL 9, 2012 <br />Klein made motion, Puleo seconded, to approve minutes for the EDA meeting of April 9, <br />2012 <br />All aye. Motion carried. <br />INSURANCE ADVISORS — GREG YOUNG INSURANCE AGENCY <br />Staff invited Greg Young from Greg Young Insurance Agency, a new business in Hugo. <br />The business is located in the Bald Eagle Industrial Park in Grant Barrett's office <br />building on Fenway Boulevard Circle. A few months ago Mr. Barrett had a vacancy in <br />his building and he created three smaller offices for flexible office space. Mr. Young is <br />leasing one of the offices for his business. <br />Mr. Young stated that he started leasing space from Grant Barrett this year and has been <br />involve with the HBA and BNI over the last few months. He stated that his agency works <br />with over 40 insurance companies to provide the best coverage for each individual. The <br />flexible office space is working well for Mr. Young since his clients are from different <br />cities in the metro area. <br />Miron asked if Mr. Young would buy office space in the future. Mr. Young stated not at <br />this time. The flexible office space is working well for Mr. Young since his clients are <br />from different cities in the metro area and a lot of the work is completed via email. He <br />stated that if he were to acquire more employees he may be open to owning office space. <br />Miron asked what the EDA can do for Mr. Young's business. Mr. Young stated that the <br />City continuing to be involved in business events like Kidz n' Biz fest. The networking <br />between businesses is really important. <br />The EDA welcomed Greg Young as a new business owner in Hugo <br />DISCUSSION ON THE PURCHASE AGREEMENT FOR THE CITY OWNED <br />PROPERTY <br />The development team had discussion with the EDA on a year extension of the purchase <br />agreement for the property. The purchase agreement expires June 6, 2012. <br />At its February 13, 2012, meeting the EDA heard from the development team on its <br />marketing efforts for the property. The development team presented several iterations of <br />