City of Rock Falls Industrial Development Commission met March 16.
Here is the minutes provided by the Commission:
Attendees:
Chairman Jeff Bright, Michael Clark, Aldermen Glen Kuhlemier and Brian Snow, Robbin Blackert - City Administrator, Mark Searing - Building Inspector and Sylvia Frey
Absent:
Bethany Bland - RF Chamber, Jeff Moore
Public Attendees: Pam Eggemier - SVM, Alderman Rod Kleckler
Roll Call was taken - Quorum was met - Official business can be conducted. Meeting started at 4:00pm.
Approval previous month's minutes (3/17/16): Chairman Jeff Bright asked members for their approval of last March's minutes. A motion was made by Michael Clark, seconded by Alderman Brian Snow to approve minutes as presented.
Motion carried.
Audience Requests: Chairman Jeff Bright asked if there was anyone from the audience wanting to address the commission. No one came forward.
Letter of Intent - Riverfront property: Chairman Jeff Bright asked Robbin Blackert to present this item. The city's economic development firm, Retail Attractions, has been able to secure a Letter Of Intent from 1768 Investments LLC for riverfront property at the SE corner of East 2nd Street and Avenue A(5.6+acres). Letter of Intent establishes purchase price at $789,000.00 and names Due Dilligence Period as 180 days; whereas, the city's approval will facilitate purchase/sale contract negotiations thereafter. It will establish a $5,000.00 Earnest Money 'Escrow Account' within 10 business days of contract execution. For their review, Mayor Wescott gave the members short bio on 1768 Investments LLC and/or assigns working with Southeast Commercial/GBT Realty Corporation. Robbin Blackert stated further information will be forthcoming on the development project on this site.
A motion was made by Alderman Glen Kuhlemier, seconded by Alderman Brian Snow, to approve this Letter Of Intent as presented and authorizing Robbin Blackert, City Administrator, to sign this Letter and proceed with contract negotiations with 1768 Investments LLC. Motion carried - yes (4). Vote Tally: Jeff Bright (yes), Michael Clark (yes), Alderman Brian Snow (yes) and Alderman Glen Kuhlemier (yes).
With no further business, a motion was made by Jeff Bright, seconded by Alderman Brian Snow to adjourn this meeting.
Meeting was adjourned at 4:21 pm.
http://www.rockfalls61071.net/download/agendas_and_minutes/2017_agendas_and_minutes/2017_committees_boards_and_commissions/industrial_development_committee/2017_idc_minutes/3-16-2017-IDC-Minutes.pdf
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