Minutes - Economic Development Authority - 03/19/2009

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APPROVE MINUTES Motion by Member Skaff, seconded by Member LeTourneau, to approve the following meeting minutes: 1. Economic Development Authority regular meeting minutes dated February 12,2009. Motion carried. V oting Yes: Chairperson Riley, Members Elvig, LeTourneau, Look, Skaff and Steffen. Voting No: None. Absent: None. EDA BUSINESS Case #1: 2009 EDA Work Plan / EDA Role in Town Center Economic Development Coordinator Sullivan noted that on February 12, 2009, the EDA approved the 2009 Work Plan, which identifies actions and projects that Staff and the EDA will undertake in 2009 and into the future. He advised that the primary purpose of this meeting was to define the purpose of the EDA in relation to the Town Center. He explained that although this body does not need their work plan approved by the Council, they would still like the input. Chairperson Riley advised that some items on the plan are ongoing, while some are new and changing. He advised of some of the ongoing, more general items on the work plan. He explained that the group likes to keep track of which properties are available, and which areas could be developed to create a tax base. He stated that for the last few years the EDA has concentrated on a certain area and creating good buildings that they could be proud of. He thought good progress had been made in that area, and only a few buildings are left that could be developed or redeveloped. He advised of the outside funds the EDA tries to obtain. He thought that another business park would soon be needed and explained that the EDA is trying to identify an area for that. He advised that the EDA has a revolving loan fund, established five or six years ago. Economic Development Coordinator Sullivan explained that the Sunfish Lake project was the first utilization of that fund. He advised that as of last year there was $200,000 that could be loaned out. Chairperson Riley explained that the EDA tries to ensure that the project is of good quality if that fund is going to be used. He thought that the fund could be used to help businesses clean up, when the City identifies that need. He stated that the EDA has acquired signs to place on properties that are being redeveloped, and they are also looking into Ramsey monument signs. Economic Development Coordinator Sullivan explained that this would not be looked at again until 2010, as that is no longer an action item. Chairperson Riley stated that in terms of marketing, most items are continuing and ongoing. He stated that a zip code for Ramsey has been brought up, as currently there is not a separate zip Joint Economic Development Authority/City Council / March 19,2009 Page 2 of 11