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MEETING OF THE PEQUOT LAKES ECONOMIC DEVELOPMENT COMMISSION TUESDAY, MARCH 17, 2020 Members Present: Chair Lindholm; Commissioners Becklin, Crochet, Holley, Lubke and Rieck Members Absent: Commissioner Lelwica Others Present: Nancy Malecha, City Administrator; Angie Duus, City Clerk/Treasurer; Tyler Glynn, BLAEDC; Scott Pederson, City Council Liaison; and Mark Jurchen 1. Call Meetinq to Order The meeting was called to order by Chair Lindholm at 8:00 a.m. 2. Consider Aqenda COMMISSIONER RIECK MOVED TO APPROVE THE AGENDA AS PRESENTED. COMMISSIONER CROCHET SECONDED THE MOTION. MOTION CARRIED 5-0. 3. Approve EDC Minutes Commissioner Lubke arrived at meeting. COMMISSIONER HOLLEY MOVED TO APPROVE THE FEBRUARY 18, 2020 ECONOMIC DEVELOPMENT COMMISSION MINUTES. COMMISSIONER CROCHET SECONDED THE MOTION. MOTION CARRIED 6-0. 4. Heart of the Good Life Discussion with Close Converse Nancy Malecha presented the proposal from Nate Gortzke at Close Converse. She stated that Mr. Gortzke noted some resources that they would utilize to provide the Heart of the Good Life with maximum exposure which included marketing packets and several real estate exchanges and websites. Ms. Malecha stated that Mr. Gortzke also included comparisons with Brainerd and Baxter noting that they both are offering land at $1 per square foot. He noted that the pricing Pequot Lakes is marketing at is good but a potential buyer may use the other cities as leverage on their offer. Ms. Malecha stated that Close Converse is proposing a commission 7% of the purchase price or $5,000, whichever is greater. Discussion ensued about the price of lots being around $62,500 and that everything is negotiable. Commissioner Crochet asked about taxes being reduced for a time period and if the City has considered it. Ms. Malecha stated that the only way she knew they