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Economic Development Coordinator Sullivan reviewed that Brandon Norell, Territory Division Manager for Buxton, presented a proposal to develop a Retail Economic Development Strategy at the May 15,2008 EDA meeting. Staff has been in contact with the business community and is attempting to solicit interest and funds to assist in the study. A suggestion has been made that the scope of the retail economic development effort be broadened to include other parties that are not located in the three study areas but are also interested in the success of Ramsey. The cost of the study is $70,000. Staff recommends moving forward regardless of private participation, while soliciting private funds for assistance. Community Development Coordinator Sullivan requested authorization from the EDA to host a meeting of owners from the three commercial nodes, as well as other community leaders, to discuss the future of Ramsey and to ask for financial support of the Buxton Study. He advised there are funds available in the EDA budget that could be reallocated from land acquisition. He suggested one or two EDA members should be present at the meetings. The EDA is also requested to provide suggestions for the list of participants. Chairperson Riley inquired about the process that would be involved in relation to land not being owned by the City. Economic Development Coordinator Sullivan replied that Ramsey Town Center involves a public/private partnership and this is one more piece the City could bring to the table. There is the potential for a partially owned City project at the J 67th Avenue node, as one of the landowners has expressed an interest in selling. He stated with the Town Center area the housing groups were not included in the discussions; however, there was support. He suggested bringing K. Hovnanian to the table and indicated suggestions for participants should not be limited to retailers. Chairperson Riley questioned if it would be more beneficial to proceed with the retail economic development strategy after the land acquisition in Town Center is settled. Economic Development Coordinator Sullivan explained that upgraded data will. be provided on the third year of participation. He suggested with the EDA'sexpanded involvement into retail, they may want to schedule a meeting with this group every other month with one or two EDA members attending. ' The following were suggested as participants in the Buxton Study: PSD, LLC, The Solomon Group, K. Hovnanian, Sharp and Associates, 5th Street Ventures, John Peterson (developer), Robert Mueller, Premier Commercial Properties, Rum River Hills Golf Course, Anoka Area Chamber of Commerce, Anoka Technical College Corporate Center, City Banks, Major Employers in the City, RJM, Life Fitness, Vision Ease, Gaughan (Sunfish Commons Management Group), Member LeTourneau questioned the primary function of the group. Economic Development Coordinator Sullivan replied the primary function is twofold. First, rather than rely on other people to tell them what the market is they will determine it themselves. This may initiate Council involvement in the process. The second part is to provide professional marketing packages to the participating businesses. Economic Development Authority/June 12, 2008 Page 2 of 6