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4.01: Review Contract for Services with ACG City Administrator Ulrich presented the staff report and indicated they have relied heavily on Mr. Mike Mulrooney, ACG, to assist with critical components such as business retention and future business opportunities. He recommended to continue services on an hourly basis. Mr. Mulrooney gave a brief summary of the projects he has worked on for the City of Ramsey and his involvement with the business retention and expansion program in the City. He additionally defined the retainer as a more extensive approach rather than hourly, which is reacting to inquires coming into the City. Mr. Mulrooney indicated he is the follow up person once a prospect comes into the City and explained currently there are six fairly solid prospects but the difficulty is the City is rapidly running out of sites that can accommodate. He provided a few examples of these prospects. Member McGlone expressed concern of hiring a consultant without an RFP. City Administrator Ulrich stated he will have the budget schedule for the next work session and will provide status regarding a permanent hire for 2013. He added in the interim, with things in flux, a consultant is a good stopgap to have on an hourly basis. Motion by Member LeTourneau, seconded by Member Williams, to recommend to City Council to continue a per hour charge compensation structure for services from ACG until the monthly cost of services approaches the retainer amount ($3,750 per month); at which time staff shall bring back this item for EDA consideration. Further discussion: Member Steffen requested City Administrator Ulrich advise when an amount reaches close to the retainer in any given month. Motion carried. Voting Yes: Chairperson Riley, Members LeTourneau, Williams, McGlone and Steffen. Voting No: None. Absent: Members Skaff and Wise. 4.02: EDA Budget Discussion City Administrator Ulrich presented the staff report and requested input on moving some staffing costs over to HRA, which would not affect staff capacity. Input is also requested on reserves. He added he can bring back a more formal budget to the July meeting. The consensus of the EDA was that the position should be added and filled. Discussion ensued regarding what is the proper amount or target reserve. The reserve is not just cash flow but operational for projects and for economic development opportunities. It was suggested to have a policy to document a clear function. The recommendation was to review historical reserves, annual activity, and how that compares to history as well as to balance and possible future behavior. Economic Development Authority /June 14, 2012 Page 2 of 5