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EDC Minutes March 17, 2020 Page 2 of 6 ----------------------------- could do that is thorough tax increment financing or tax abatement. She stated they would still pay the property taxes to the City directly and then the City would reimburse the developer for those taxes for a number of years. Discussion ensued about the Heart of the Good Life being marketed only on the City website and though BLAEDC currently. Commissioner Becklin asked if anyone thought of leasing the land and said there could be a possibility to do for an example a 99 year lease with the right prospect. Discussion ensued other properties that are leased currently. Chair Lindholm stated the lease option did come up in the funding discussions about the ball field. Commissioner Holley stated that there are tax benefits of buying the property instead of leasing. Commissioner Rieck asked Commissioner Holley what her opinion was about the rates Close Converse are proposing. Commissioner Holley said they are being very generous to the City and the commission is within range of where it shoutd be. Commissioner Becklin asked what kind of a time limit would there with Close Converse. Discussion ensued about deadlines and requirements being include in the contract. Commissioner Lubke asked Tyler Glynn if he has been involved in any situations large commercial lands are leased. Mr. Glynn sta#ed that he has not and he does not know how that affects a City owned property but believes it is a good idea. Mr. Glynn did state that he could look back at scenarios where BLAEDC has seen that. Commissioner Holley stated that it would need to be cleared with the City Attorney. Mr. Glynn reminded the EDC Commission that they need to take into consideration and exclude negotiations the City is currently in with from the Close Converse contract. Ms. Malecha stated that the City is in negotiations with a developer who hopes to present to the EDC Commission at the April meeting and that the City wouid like to exclude that contract. COMMISSIONER LUBKE MOVED TO APPROVE THE CITY ADMINISTRATOR TO OBTAIN A QUOTE FROM CLOSE AND CONVERSE TO MARKET THE HEART OF THE GOOD LIFE DEVELOPMENT EXCLUDING ANY NEGOTIATIONS THE CITY IS CURRENTLY IN. COMMISSIONER RIECK SECONDED THE MOTION. MOTION CARRIED 6-0. 5. Welcomina Communitv Advocacv Group Update Ms. Malecha stated that she needs to get the list of people and their contact information for the Advocacy Group to Region Five and then they can begin that process of organizing those meetings.