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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 />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 />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 />