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MINUTES FOR THE EDA MEETING OF JANUARY 14, 2014 <br />Weidt called the meeting to order at 5:00 pm. <br />PRESENT: Arcand, Bever, Denaway, Gallivan, Klein, Puleo, and Weidt <br />ABSENT: None <br />STAFF: Bryan Bear, City Administrator <br />Rachel Juba, Planner <br />APPROVAL OF MINUTES FOR THE EDA MEETING OF DECEMBER 10, 2013 <br />Arcand made motion, Klein seconded, to approve minutes for the EDA meeting of <br />December 10, 2013. <br />All ayes. Motion carried. <br />MARKETING RFO PROPOSAL INTERVIEWS <br />The realtors were asked to give a short presentation prior to the interview. The EDa <br />interviewed Northco and High Pointe Realty partnering with Wakota Commercial <br />Advisors. Staff provided a few questions that could be asked to the realtors. <br />Bill Bergeson, representing High Pointe Realty, provided their background and stated <br />that he is very familiar with the property since he sold the Carpenters parcels to the City. <br />Jeff Hough, representing Wakota was also present for the interview. They stated that they <br />have been following the EDA's vision to have a restaurant or hospitality type business on <br />the property. They felt like that would be a good fit for the property and want to make <br />sure they attract businesses that he EDA would like to see in downtown. They discussed <br />their marketing plan for the property. They stated they were willing to discuss a revised <br />compensation, if a lead for a buyer came from the City. They informed the EDA that no <br />commission would get in the way of a deal to sell the property. <br />Dick Allendorf and Chris Kubesh, representing Northco, provided their background to <br />the EDA. They discussed their marketing plan for the property. Mr. Allendorf stated that <br />they were not open to a flexible compensation, if a lead on a buyer came from the City. <br />They stated that they would look for a hole in the market for Hugo and start there. He <br />stated that a restaurant user would be good for a portion of the property, but the rest <br />would need to be evaluated. <br />After the interviews, staff recommended that the EDA provide direction to staff on how <br />to proceed with marketing the City owned property. <br />The EDA generally agreed that the partnership between High Pointe Realty and Wakota <br />Commercial Advisors would be a good fit for marketing the City owned property in <br />downtown. The EDA liked that they knew the property and had a vision on what would <br />be best there based on the EDA goals. <br />