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Member Rieck stated that the committee should begin by asking this TIF request be <br /> considered by the Council. <br /> Member Smith stated that he didn't have any further questions; Member Jurchen had <br /> covered all of his issues. He will vote in favor of moving forward with the request but <br /> would have had a preference for Justin Bolz-Andolshek to be doing the project. With <br /> their roles as economic development, anything but to recommend to move forward would <br /> have been a disservice to the community. <br /> Member Jurchen stated he was trying to remove the emotions; if the dollars and cents <br /> make sense,he would consider going forward. <br /> Chair Larsen stated he does not see a direct conflict of interest with Member Jurchen. <br /> Member Smith also has financial dealing with some people involved. Redevelopment <br /> spurs other redevelopment. He would like to recommend continuing to look at the <br /> project and leave the final decision up to the Council. A lot of questions need to be <br /> answered before the final decision can be made. <br /> Mr. Bolz-Andolshek, speaking as a businessman and not as a member of the Committee, <br /> stated the past week or so has been very challenging. He and his wife have contemplated <br /> what they can do to redevelop their store. Over the past 9 years they have looked at <br /> several new sites and done feasibility studies. Their last conversation with a land owner <br /> was right before the Council switched the alignment of the highway to the bypass route. <br /> They preferred to have long term exposure. <br /> Mr. Bolz-Andolshek stated he would like to have a meeting with the City Planner to <br /> possibly find a suitable location. He will be requesting an update of the feasibility study <br /> tomorrow. He has contacted a contractor and will be obtaining multiple bids. He plans <br /> to more forward quickly. He hadn't wanted to ask the City for almost a million dollars <br /> and didn't want to make the tax payers of Pequot Lakes business partners. There has got <br /> to be some regulation of TIF. He will be asking the Council for some consideration and <br /> most likely will be coming back with a proposal, an additional project. There may be two <br /> different stores, but he is not backing down and going away. He is discouraged,but <br /> engaged. <br /> Chair Larsen stated he is in favor of moving this forward. The decision is at the City <br /> Council level. <br /> Member Jurchen recommends further consideration of the request. There are more <br /> questions that need to be answered. <br /> Chair Larsen suggested that after all of the information is in place,that information could <br /> be brought back to this group as follow-up. <br /> Member Smith stated this is a good project to warrant further consideration. People have <br /> made huge investments in town. The bypass has affected new investment and <br /> redevelopment. A project like this could bring people to town, shopping at other <br /> �.. businesses. <br /> Minutes 2 <br /> Economic Development Committee <br /> July 28, 2009 <br />