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<br />Commissioner Monson explained the County has been working for the past 13 months to <br />negotiate an agreement with Alatus and now there was only five months left. She stated once a <br />purchase agreement was reached, this would go to the County Board for approval. Ms. Mitchell <br />reported this was the case and noted the JDA would not have an official role. <br /> <br />Commissioner Monson discussed how the purchase agreement would assist the JDA in reaching <br />the sustainability goals for this project. She was of the opinion it would be challenging to reach <br />a purchase agreement in five months. <br /> <br />Commissioner Jebens-Singh questioned what would have to happen in order to keep the <br />project on the proposed timeline. Mr. Tierney stated an extension could be negotiated if the <br />timeline needed to be extended. She reported this was quite common, especially for a project <br />this complicated. <br /> <br />Commissioner Monson asked if the JDA would want staff to make the JDA aware a substantial <br />agreement has not been met in order to give the developer 30 days’ notice, or should the JDA <br />push this. <br /> <br />Chair Wicklund recommended the JDA bring this back for further discussion at the next <br />meeting. <br /> <br />Commissioner Weber indicated he would like to hear from the developer if it was feasible to <br />reach a purchase agreement in five months. <br /> <br />Commissioner Monson anticipated the developer wanted to make this work, but noted <br />Commissioner Frethem made the JDA aware of the fact at the end of 2024 that she did not <br />believe an agreement would be reached. <br /> <br />Ms. Mitchell explained she had spoken with Alatus for a timeline on how to reach the <br />agreements and noted she had received a draft timeline. <br /> <br />Commissioner Miller reviewed the term sheet that was provided by Alatus and noted the items <br />that had been completed to date. <br /> <br />Chair Wicklund stated it appears the JDA should further discuss this item at the March meeting. <br /> <br />Director Jagoe indicated staff could have the timeline refined and presented to the JDA in <br />March. <br /> <br />Ms. Tierney commented the JDA would have to direct staff to have a consultation with the <br />developer in order to put the 30 day notice in place. She indicated the JDA could discuss this <br />process further in March. She stated the JDA could give staff direction on the consultation at <br />this meeting, unless the JDA wanted additional information from staff regarding this matter.