09-17-2008 EDAMEDA Board of Directors
Special Meeting Minutes
4:30 PM Wednesday, September 17, 2008
Members present in bold print:
Members
Tim Ulrich Diane Gordon Steve Jansick Marc Vaillancourt
Casey Stotts Jim Haugen Mike McGraw
Staff
Miles Seppelt, EDA Director
Mike Solinger, EDA Assistant
Ken Merrill, Finance Director
Marc Sebora, City Attorney
I. Call to Order
Tim Ulrich called the meeting to order at 4:31 PM
II. Approve Agenda
No action
III. Industrial Park Contract - for -Deed
The EDA Director reviewed the overall parameters of the proposed land purchase. Mr.
Hackbarth has agreed to all the proposed provisions except that he intends to retain the 6 '/2
acres he owns south of 5th Avenue. It is not for sale.
Discussion followed and the Board agreed that purchase of the 68 acres north of 5th Ave
would be sufficient.
Finance Director Ken Merrill discussed potential funding for the property acquisition. There are
sufficient dollars in the Community Improvement Fund to cover the down payment and annual
payments up through year 3 of the proposed contract - for -deed. After that it may become
necessary to liquidate the Stritesky Parcel to make the final payments.
City Attorney Marc Sebora reviewed the various provisions in the contract - for -deed for the
benefit of the Board. The purchase price reflects the appraised value of the property and
recognizes the gift to the city. In addition, the city shall have the right to make improvements
and develop the property as opportunities arise.
The existing agricultural lease on the property was discussed. It was agreed that if at all
possible the City should take over the lease — primarily because of the need to install
infrastructure on the site in the near future.
Further discussion ensued.
M IS /P: Gordon, Haugen to recommend approval of the Contract - for -Deed to the City Council,
with final details to be worked out by the EDA Director, City Attorney and City Administrator.
Passed Unanimously.
IV. Other Business
The EDA Director explained that he had to have grass planted on the EDA lot located between
the Cenex Grain Elevator and the Charter school so that it did not become a weed patch.
M IS /P: Jansick, Gordon to authorize payment of the invoice for grass seed. Passed
Unanimously.
V. Adjourn
With no further business to attend to, the meeting adjourned at 5:12 PM
Respectfully Submitted,
Miles Seppelt
EDA Director