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MINUTES <br /> New Brighton Economic Development Commission <br /> Regular Meeting—July 11, 2006 <br /> 7:00 a.m. <br /> Members/Liaisons Present: Gina Bauman, Bob Benke, Gene Delaune, Dennis Flahave, <br /> Linda Harmon, Lisa Harreld, John Kaufhold, Steve Larson, Mark Nelson, Bruce Nustad, Jim <br /> Sculthorp, Gary Stang, and Jim Witkowski <br /> Members/Liaisons Absent: <br /> Staff Present: Jeanna Troha, Grant Fernelius, and David Black. <br /> Call to Order <br /> Mark Nelson called the meeting to order at 7:00 a.m. <br /> Approval of Minutes <br /> The minutes of the June 13, 2006 meeting were presented for approval. All approved. <br /> Due to technical difficulties there are no minutes for this EDC Commission <br /> Meeting. Below is the agenda that was discussed for reference. <br /> Northwest Quadrant Report <br /> Site Preparation <br /> Post Office. A court date has not yet been set to hear the eminent domain action against the <br /> property owners, Dr. Alvin Zelickson and the estate of Andrew Froehlich. <br /> Staff and counsel had a lengthy conference call with representatives of the U. S. Postal Service in <br /> Denver. The purpose of the discussion was to gain insight on the methodology used to obtain the <br /> updated"asking price" and the process for reaching a final decision on redevelopment. <br /> The difference between the current lease rate and the market rate was calculated based on an <br /> appraisal obtained by USPS in 2005. The actual lease rate to be charged by developers Ryan and <br /> Pratt Ordway may well be different. The Postal Service wants a level-term lease over 10-15 <br /> years, with options for additional terms with inflationary increases. The buildout figures, though <br /> seemingly high, are based closely on actual expenses at recent post office projects. Costs may be <br /> paid over the life of the lease rather than up-front. All of these factors will impact the final <br /> agreement between the City and USPS. <br /> The City will be continuing to evaluate financial options and make a written counter-proposal. <br /> The final decision goes to Washington, and may take another three months. <br /> Railroad. M. T. Properties and Minnesota Commercial Railway received the City's offer <br /> Page 1 of 4 <br />