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MEMO DATE: TO: FROM: RE: September 8, 2003 Economic Development Authority (EDA) Sean Sullivan and Amy Geisler Staff Update Business Appreciation Day: Once again we were blessed with good weather for the Business Appreciation Day event. The clouds were a blessing because without them it would have been unbearable. It was a group effort to put this function on this year and without Megan's guidance it wouldn't have gone so smoothly. Thanks to all that assisted and participated to make this event a success. Community Development Block Grant (Chics/Morrell): We have purchased and closed on the Morrell Trucking Property and have a signed purchase agreement with Lorraine Chics. Many of hours of Staff time were put into the negotiations and it has led to a mutually acceptable purchase agreement. The CDBG Grant states that the lots need to be cleared one year from purchase. The City looks forward to finding new businesses to help in the redevelopment effort in TIF No. 2. Precise Metalcraft: The City has closed on the land and expects the project to break ground sometime in late September or Early October. A 12,500 S.F. Manufacturing facility will be completed by December 31, 2003. A warm welcome goes out to DeWayne Muschik from the City of Ramsey. Cabinetry Concepts: A cabinet shop out of Andover has submitted a site plan and looks to build a 12,000 S.F. cabinet shop in Ramsey. Staff is negotiating details of a development agreement with the owner. The business will be located on Lot 3, Block 1, Sunfish Lake Business Park 2na Addition. Planning Commission is reviewing the Site Plan on the 4th of September and it should be ready for Final approval by Council on the September 23. Rum River Dental Creations: This business will be constructing a small (approximately 3,000 S.F.) dental lab on Lot 1, Block 3, Sunfish Lake Business Park. They make crowns and other accessories and look forward to joining the Ramsey community. This project is scheduled to close in September and ground should be broken in October. Basalt Properties, LLC: The City is currently negotiating a deal with a company to develop land located on Basalt Street adjacent to Tom Sauter's new project. The City is excited at the possibility of the redevelopment accelerating in this area. The prospect would like to begin construction this fall. Panther Precision: Panther Precision has moved into its new building in Sunfish Lake Business Park. The building looks great and the owners are excited about joining the Ramsey business community. A warm welcome goes out to Panther Precision.