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Mr. McComb's next suggestion was that a master plan for the area should be created. He noted a determination would need to be made regarding whether the existing buildings and businesses should be part of the plan, as the older businessmen would have a hard time justifying the capital expenditures needed for redevelopment. Mr. McComb also recommended that housing development close to the commercial area should be encouraged. He noted if a variety of housing products were offered the density would increase at a faster pace. He suggested that retail planning and design firms be engaged to generate concept plans. He noted they would advise how, when, and where development phasing would occur. He felt that a relationship between the private property owners and the City would be needed to accomplish this. Mr. McComb also noted that there was abundant north/south road access in Ramsey and very little east/west road access. He specifically mentioned that there was no connection between Highway 47 and County Road 7. He felt if that connection existed the trade area of the shopping center would be expanded, as ability to travel across the Rum River was prohibited. He indicated, even though this could be a 20- to 30-year process, it was worth contemplating without a bridge. Mr. McComb stated that his recommendations were designed to make sure Rum River became a viable commercial area. He felt, as population grew, there would be more than enough population to maintain the City's commercial nodes. Member LeTourneau asked about the possibilities of public/private partnerships. Mr. McComb responded that he was not a good source for that type of information; however, public assistance would help jumpstart the project. He acknowledged that the levels of government funding were now somewhat reduced for this type of effort. Acting Chairperson Kiefer asked if there were any questions from the business owners and landowners attending the meeting. Discussion ensued regarding the following issues: A question was asked regarding the estimated total acreage of commercial land available within the next 20 years. Mr. McComb suggested that 15 to 20 acres would make up the commercial/service component. He added that housing would be well above that figure. A question was asked if redevelopment meant taking down existing buildings and/or improving existing buildings. Mr. McComb responded that he saw the area including both existing and new buildings. He felt the changes would need to be phased and/or orchestrated, as it would not be acceptable to begin "knocking down" buildings immediately. Decisions would need to be made regarding what was an appropriate fit and what was not an appropriate fit with the master plan, along with suitable timing for changes to be incorporated. Economic Development Authority / July 14, 2003 Page 3 of 7