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HRA BUSINESS <br />Case #1: COR Development Management Kick-Off <br />City Administrator Ulrich noted that the Development Team had handed out a more detailed <br />agenda. <br />Darren Lazan, Landform stated this meeting is a means to provide information on how he and his <br />Development Team will work on the COR development and to solidify the vision of the HRA. <br />Team members Ryan Cronk and Michael Greeby were introduced and their credentials provided. <br />I. Project History <br />Mr. Lazan gave some history of the Town Center project. <br />a. New Ownership, New Image/Identity, New Plan <br />Mr. Lazan stated that last year, property was acquired by the City's HRA. We are working to <br />establish a new image, identity -anew plan. <br />b. Interim Management to Full-Time Management <br />It was stated we are in the process of transitioning from interim management to full-time <br />management. This will help the HRA to understand where we believe the project should go and <br />to pull in concepts to solidify this effort. <br />Mr. Cronk stated that specific to the history of this project and what this new Ramsey Town <br />Center or COR in direction will be derivative of what we want to come. ~ This project history <br />needs to be reintroduced and to put an end to this chapter. A lot of that is marketing and a lot is <br />selling. <br />II. Real Estate Development <br />a. Creating Value <br />Mr. Greeby stated we will keep coming back to this concept. There are various stages where you <br />can influence value at the greatest extent possible. <br />b. Ramsey holds the key to what happens here <br />The City holds the key to what happens and the roles of the development management team are <br />to support the idea, bring in reality checks, identify challenges, and find solutions and options. <br />c. Mindful of market conditions, but we create markets to a certain extent <br />The market will drive us in a certain direction. Knowing what not to do can often be more of a <br />value than just doing something. <br />d. NOT simply brokerage -deal makers, project coordinators <br />Mr. Lazan stated we are not your broker - we are your development management team. He <br />explained the difference. <br />Mr. Cronk stated that on a typical development project, you will have a tier of people. He talked <br />about the different tiers and talked further about the distinction between brokers and the <br />Housing and Redevelopment Authority/Apri17, 2010 <br />Page 2 of 16 <br />