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Ms. Nelson stated that if the members had any questions or concerns regarding The COR to contact <br />her or Development Manager Darren Lazan who is in the office on Tuesdays. <br />Ms. Nelson stated the final development agreement was approved for the Legacy Christian <br />Academy project. <br />Discussion ensued regarding financing of the Flaherty and Collins project and if the EDA would be <br />a participant in the financing. At this time EDA will not be brought into the financing and this <br />update is informational. <br />Chairperson Riley asked if the Development Management Team was using the Buxton Study and if <br />now was the time to have the update done. <br />Ms. Nelson stated the study is being used, it helps shape who the City reaches out to and helps <br />guide the marketing. <br />Economic Development/Marketing Manager Backman stated the update is part of the 2011 Work <br />Plan. <br />Member Williams communicated that the president of the MSCA complimented the development <br />team and was impressed with the presentation and marketing materials presented at the MSCA <br />conference. <br />CASE #3 HRA/EDA Powers and Responsibilities <br />Economic Development/Marketing Manager Backman presented the Staff Report and an updated <br />"Comparison of HRA and EDA Entities in Minnesota" handout. <br />Members discussed the similarities and differences of the HRA and EDA as presented in the <br />"Comparison of HRA and EDA Entities in Minnesota" handout. <br />Chairperson Riley stated from reviewing this handout both entities have been operating within their <br />statutory framework. <br />Mr. Backman stated the attorneys would have spoken up to the boards if they were not acting within <br />their boundaries. <br />Case #4 Staff Project Update <br />Economic Development/Marketing Manager Backman presented an update on the 2011 Business <br />Expo. He stated it was at the Fountains of Ramsey, a new location this year, which made it more <br />convenient for attendees to access both expos. There were 49 exhibitors and a waiting list of <br />businesses wanting to be at the event. This is the first year that businesses could set up the night <br />before and approximately 40% did so. Mr. Backman thanked Member Skaff for helping at the <br />event. <br />Mr. Backman stated he is continuing to work with the Minneapolis company that is looking at re- <br />locating to Ramsey, among other states. The State of Minnesota prepared a tax comparative with <br />Economic Development Authority/May 12, 2011 <br />Page 3 of 4 <br />