8. EDSR 10-08-2007ITEM # 8.
ver
MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic Development
DATE: October 8, 2007
SUBJECT: Concept Review -Entertainment Center
Attachment
• Gateway Business Center Area Map
Background
In late August 2007 staff was approached by a developer, Energy Entertainment Enterprises, LLC
who had indicated interest in locating an entertainment/hospitality center within the Gateway
Business Center area. Initially the developer was looking at utilizing one of the privately owned
parcels and a portion of the city owned property. Following their discussions with the private
landowners, the developer is now focusing on utilizing a portion of the city owned property. Staff
has been working with the developer since that time to provide information about the EDA's vision
for the use of the property, preliminary layout plans, and to discuss site constraints and
opportunities to work with adjacent land owners.
At the EDA meeting the developer will be presenting their preliminary development concept for
review and feedback from the EDA in an effort to gauge the EDA's interest in the project prior to
proceeding in formalized development plans and applications. It is important to note that staff has
not yet had an opportunity to review and analyze the proposed concept for any planning/zoning
modifications, applicability of City financing policies or sensitivity analysis on land and infrastructure
costs related to the proposed development.
Requested Direction
Following the developer's presentation, staff requests the EDA's discussion and direction on the
following policy questions:
1) Does the proposed concept fits within the EDA/City Council's vision for the Gateway
Business Center development area? Is the EDA willing to enter into a letter of intent in
order for the developer to proceed?
2) Is the EDA is willing to consider providing financing assistance to the proposed project?
Based on the EDA's direction on the above issues, the EDA may wish to direct staff to proceed
with negotiations to refine the site layout, analyze land and infrastructure costs, and prepare a
proposal for financial assistance.
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