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The city has aggressively been trying to find money for the Armstrong Boulevard interchange <br />project. A grant application prepared by staff is currently at the Anoka County offices and is being <br />paired with their documentation before it is submitted to MnDOT. The sought after grant is through <br />a new program called TED (Transportation Economic Development), which was created this fall by <br />MnDOT and DEED The requirements of the application process are currently being worked on <br />and letters of support have been coming in from local businesses. Six other communities are also <br />vying for the funds. <br />In Mid - November, the City's Economic Development/Marketing Manager was contacted by a real <br />estate broker regarding a prospect interested in leasing a portion of the Old Municipal Center. The <br />prospect toured the building and provided a letter of interest to the City to lease approximately <br />6,100 sq. ft. of the main level starting in February 2011. The lease would not impact space <br />occupied by the Ramsey Fire Department and the prospect would pay for its portion of the utility <br />costs and for any leasehold improvements. The City's Economic Development/Marketing Manager <br />presented this opportunity to the City Council at its November 30, 2010 Work Session. The City <br />Council directed staff to pursue development of a lease agreement between the City and the <br />prospect that would be considered at a future meeting. An Interim Use Permit application was also <br />provided to the broker and prospect for the activity that was proposed for the Old Municipal <br />Center. In early December, after further discussions, it was conveyed to staff that the prospective <br />lessee had decided to lease space on an interim basis at the Ramsey Elementary School on Nowthen <br />Boulevard. There is a possibility that in the future the prospect may revisit a lease arrangement for <br />the Old Municipal Center. <br />The Shop Local project will be presented at the next meeting. <br />A precision manufacturing prospect contacted Economic Development/Marketing Manager <br />Backman with interest in locating to Ramsey. The company is from the U.K. and is a family -owned <br />company employing approximately 30 people. The company originally contacted Coon Rapids, but <br />Coon Rapids did not express interest in bringing the business to their city. <br />MEMBER INPUT <br />Member Steffen recognized Member Matt Look as this is his last EDA meeting and thanked him for <br />his service on the EDA. <br />ADJOURNMENT <br />Motion by Member Steffen, seconded by Member LeTourneau, to adjourn the meeting. <br />Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Skaff, Steffen, Williams, <br />Elvig, and Look. Voting No: None. Absent: None. <br />The regular meeting of the Economic Development Authority adjourned at 9:25 a.m. <br />Economic Development Authority/December 9, 2010 <br />Page 3 of 4 <br />