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Motion carried. Voting Yes: Members Riley, Steffen, Skaff, LeTourneau, and Williams. Voting <br />No: None. Absent: Members Look and Elvig. <br />EDA BUSINESS <br />Case #1: POTENTIAL BIOTECH INCUBATOR PROJECT <br />Deputy City Administrator/Director of Community Development Nelson introduced this case and <br />stated that a Ramsey business named GMI, Inc. is proposing a biotech incubator project in Ramsey. <br />GMI, Inc., provides new and refurbished medical equipment, and would like to model their project <br />after a similar project by the name of University Enterprise Laboratories, Inc. (UEL). <br />Ms. Nelson explained that GMI is currently located on Bunker Lake Boulevard near the intersection <br />of. Sunfish Lake Boulevard, and their desired location is the former Health Quest property. It was <br />noted that a benefit of GMI heading up this venture is their ability to supply, and provide <br />maintenance and upkeep on equipment. <br />Economic Development Consultant Mulrooney spoke about the fact that GMI currently supplies the <br />majority of equipment for incubator type companies. Mr. Mulrooney reported that UEL is <br />interested in continuing discussion regarding a relationship with the City of Ramsey. The EDA is <br />not being asked to do anything at this time. More research needs to be done, including meeting <br />with the Board at UEL. <br />Member Riley is supportive of seeing something done at that site. <br />Member Steffen inquired if UEL is a privately held company. Mr. Mulrooney stated that it is <br />privately held, however, the ownership structure is unknown at this time. <br />Discussion continued regarding the size of the current Health Quest building, which is <br />approximately 20,000 square feet. GMI has proposed a project size of approximately 10,000 square <br />feet. Although a 10,000 square foot building feels small for the site, the goal would be to bring in <br />other businesses. <br />Ms. Nelson stated that continued research will take place and that additional information will be <br />brought back to the EDA for the August meeting. <br />Case #2: CONSIDER EXTENDING CONTRACT WITH THE TINKLENBERG <br />GROUP FOR COMMUTER RAIL STATION FUNDING AND <br />LEGISLATION <br />Deputy City Administrator/Director of Community Development Nelson explained that the contract <br />with The TinkIenberg Group for consulting services expired on June 31, 2010. Ms. Nelson <br />recommends extending the contract for another nine months to ensure the City continues to receive <br />The Tinklenberg Group's services in securing funding for the Commuter Rail Station. There is <br />$16,000 remaining on the contract. <br />Economic Development Authority / July 8, 2010 <br />Page 2 of 6 <br />