The Shakopee Economic Development Authority (EDA) held a regular meeting on July 8, 2026. The primary action was the approval of a contract for private redevelopment of the former Shakopee Gravel site, involving a $44,575,582 tax increment financing (TIF) note. The meeting was called to order by the Chair.
I would like to call to order the Shockabi Economic Development Authority meeting for July 7th, 2026. Please make note of the roll. Oops. Number two on our agenda is approval of that agenda. Commissioners. I'll make a motion to approve the agenda. Motion on the floor. Is there a second? Motion and second to approve the agenda. Second. Any all those in favor say aye. Aye. Any opposed? All right. We have an agenda. Item three is our consent business, which has our uh EDA minutes. I'll move the consent agenda. I'll second. All right, we'll give that a motion by uh Commissioner Lehman, seconded by Commissioner Lara this time, uh to approve the minutes. Um all those in favor say aye. Aye. Any opposed. All right. Uh general business item 4A. We're on a contract for private development for the former Shacopee Gravel site. Mr. Kursky Chair and Board members. So this is the uh next step. The TIFF district was created. Now this is the contract for private development with the developer that sets aside the creation of the necessary items to be completed and uh sets a note at 44 million five hundred and seventy-five thousand five hundred and eighty-two dollars. Um that once the project starts, that's how the note will be paid from the tax revenue generated from the project. All right. Questions of staff. I have one. Commissioner Laman. Mr. President, question I had was on the advance. Uh there's an advance form in here and it talks about it, but I are are we doing an advance on this? No. No. Okay. Any other questions? Commissioner Contreras. Uh I don't have a question. I'd just like to make a motion to approve resolution E 2026-005 for the contract for private redevelopment between the economic development authorities for the City of Shacopee and the Eagle Ventures LLC, and authorizing the President and the Executive Director to execute the agreement and related documents. All right, we're going to give this one to Commissioner Delaney this time. Uh we have a motion by Contreras, second by Delaney. Uh any discussion? Discussion? Discussion?