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Chairperson Riley suggested that a statement be sent to the City Council and potential partners <br />regarding the purpose of the EDA. <br />Member LeTourneau left at 8:50 a.m. <br />Member Strommen recommended adding business impact studies to the Work Plan. <br />City Administrator Ulrich recommended adding a health study of Ramsey businesses to the Work <br />Plan. <br />Member Steffen commented more could be done to promote Ramsey businesses. <br />Member Kiefer suggested a link off the EDA Website to the businesses. <br />Member Elvig suggested adding a discussion on the MPCA site purchase. <br />Information only, no motion. <br />Chairperson Riley left at 9:07 a.m. <br />Case #6: Consider Acquisition of 8050 147 Avenue NW <br />Economic Development Coordinator Sullivan reported on the Ramsey Crossing project and stated <br />that the area had been designated blighted property. Economic Development Coordinator Sullivan <br />stated the City had been contacted by the attorney for a Jim Stanton owned parcel expressing the <br />City's willingness to purchase that parcel. He requested direction from the EDA. <br />Member Elvig stated that because this would be a long -term hold property, he is not interested in <br />pursuing the property unless an attractive price is conveyed. <br />Economic Development Consultant Mulrooney suggested exploring financing options for the <br />purchase of this parcel including, but not limited to, an option agreement. <br />Economic Development Coordinator Sullivan stated he did not believe this would be a financially <br />responsible purchase due to the parcels centralized location in a area identified for a large scale <br />project. The inability to redevelop the site as a stand alone project would lead to long holding <br />costs <br />Motion by Member Elvig, seconded by Member Steffen, to recommend to City Council that staff <br />contact the property owner, request a purchase price, and indicate there is little to know interest <br />unless the land is very reasonably priced. <br />Motion carried. Voting Yes: Members Elvig, Kiefer, Schindel, Steffen, and Strommen. Voting <br />No: None. Absent: Chairperson Riley and Member LeTourneau and Schindel. <br />Economic Development Authority /January 10, 2008 <br />Page 6 of 7 <br />