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AGENDA ITEM #5.2 <br /> <br /> <br /> <br /> <br />REPORT TO CITY COUNCIL <br /> <br />Report Prepared by: Traci Pederson & Angie Duus <br /> <br />Date: April 1, 2024 <br /> <br />Subject: EDC Update <br /> <br />Report: Economic Development Commission verbal update by EDC Member <br />Brad Becklin, including topics: <br /> Hwy 371 Billboard <br />o Two (2) potential designs attached <br /> HOTGL Facilities <br />o Packet included, provided by EDC Member, Mark Hallan for <br />Council’s review <br /> EDC Website Update <br />o Working with BLAEDC on ideas to move forward in the process <br /> Trailside Estates Letter of Intent <br />o Letter of Intent provided at EDC Meeting, 3/19/24. There was another <br />proposal received at the end of 2023 which was not presented to the <br />EDC as the EDC was looking at hiring realtors. City Staff has reached <br />out to the individual that presented this proposal to see if they are still <br />interested in the property. The City Attorney stated the City can sell <br />the property the following ways: <br /> Direct negotiations with multiple parties <br /> Request for Proposal <br /> Negotiate with a single party <br /> Competitive bidding <br />The Attorney also stated the City Council could close a meeting to <br />discuss the sale of City owned property in terms of discussing and <br />setting an asking price or to consider offers or counter offers. <br /> <br />