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MINUTES <br /> ■.. ECONOMIC DEVELOPMENT COMMITTEE <br /> JULY 21,2009 <br /> MEMBERS PRESENT: Ed Larsen, Mark Jurchen, Patrick Smith, Justin Bolz- <br /> Andolshek and Cindy Rieck. <br /> ALSO PRESENT: Elissa Rogers, BLADC; Mayor Adams; Sheila Holley, <br /> Realtor Advisor; Dawn Bittner, Zoning Administrator; and <br /> Sandy Peine, City Clerk <br /> 1. Call Meeting to Order <br /> Chair Larson called the meeting to order at 8:04 a.m. <br /> 2. Consider Minutes <br /> MARK JURCHEN MOVED TO APPROVE THE JUNE 16,2009,EDC <br /> MINUTES. CINDY RIECK SECONDED THE MOTION. MOTION <br /> CARRIED 5-0. <br /> 4. Next Regular Meeting Date <br /> Chair Larson noted that the next regular meeting of the EDC will be on August <br /> 18, 2009. <br /> 4. Other Business <br /> Sheila Holley distributed a summary report on residential, commercial, and land <br /> sales in the City. Sheila reviewed the data in the report. <br /> 3. Developer Presentation <br /> Introductions were made. Paul Tucci representing Oppidan was present. Elissa <br /> Rogers from BLADC gave a presentation on the proposed project. She noted that <br /> the developer has entered into a purchase agreement with the owners of the <br /> Bradmore Motel and with Mr. Babinski for a portion of his property. She noted <br /> that the proposal is to develop a 33,000 square foot grocery facility that would <br /> possibly include one or more tenants. Elissa noted that the community benefits <br /> from this project would include capital investment, economic development, <br /> redevelopment and growth, and job creation and retention. Elissa noted that the <br /> developers are requesting approximately $800,000 in tax increment financing <br /> assistance for 10— 15 years at 7.5% interest. Elissa reviewed the proposed project <br /> timeline. <br />