Feb 16, 2026 Economic Development Corp. (Type A)

4A Board · February 16, 2026

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10:31

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6:00

8:00

10:31

Developer presentation of incentive package and pro forma

Presentation

3:49 → 5:33(1m 45s)

Presenter (developer representative) outlined the proposed redevelopment agreement: $3,000,000 capital investment (excluding land), $1,100,000 purchase price with closing by April 1, developer to commence construction by Oct. 31 (commencement defined as pouring the foundation), complete construction by 12/31/2027 and obtain certificate of occupancy (CO) and open by 05/01/2028. EDC/4A would provide staged cash grants totaling $950,000 tied to asbestos removal/demolition ($350,000), issuance of building permit ($300,000), and CO/corporate relocation ($300,000). The pro forma shows CapEx of $4,0

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The 4A board reviewed and approved a land sale and an incentive package to support a two-story redevelopment, including up to $950,000 in staged cash grants and a schedule of construction and closing milestones.

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Transcript

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