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Commissioner Kurak stated that EDC feels that serious consideration should be <br />given to setting a policy for subsidizing development of office/warehouse/ <br />manufacturing facilities and that the incubator concept could be carried out on <br />an individual basis to those that qualify by offering rent subsidies to locate <br />in those office/warehouse/manufacturing facilities. <br /> <br />Commissioner Fults noted that existing businesses in Ramsey need assistance to <br />expand which will also improve l{amsey's economic development; those existing <br />businesses should receive the same consideration as new development projects. <br /> <br />Members of EDC stated that they feel the proposal from Iron Works does not <br />carry out the true intent of an incubator facility but it does merit city <br />participation to have a facility of that type in Ramsey. <br /> <br />Councilmember Cox stated that Iron Works has indicated to Council that what is <br />proposed is as close to the intent of an incubator as is economically feasible; <br />Iron Works knows it is beyond the concept of an incubator and is looking for a <br />response from Council. <br /> <br />City Administrator Hartley suggested that a policy for city participation on <br />desired development projects be based on number of years for payback rather <br />than a fixed dollar amount. <br /> <br />Councilmember DeLuca stated that what Iron Works is proposing may not be a true <br />incubator facility but it would take businesses out of the pole barns, freeing <br />up those pole barns to be used by businesses operating in residential areas. <br />With the Iron Works proposal, the city would have payback in about 6 years; <br />after that the city would have a free-standing, privately owned business that <br />would be generating business and tax base. Consideration is still being given <br />to including language that would obligate renters of the facility to relocate <br />in Ramsey upon expansion or pay back subsidies received during incubation. <br /> <br />Commissioner Ippel stated that EDC agrees that the type of facility Iron Works <br />is proposing is useful even though it is not really an incubator. EDC does not <br />have a problem with the payback period and the level of support being given but <br />what level of support is to be given to owner of office space on Hwy. #10 that <br />is losing his building. EDC's consensus is that if it is not a true incubator <br />facility, then the city should not spend thousands on things like advertising/ <br />marketing plans. <br /> <br />Mayor Reimann agreed with the idea of establishing a policy for city <br />participation in projects that will enhance Ramsey's tax base. <br /> <br />It was the consensus of those present to adjourn at 10:30 p.m. <br /> <br />Respectfully submitted, <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />EDO-PZ-Oouncil/November 20, 1 986 <br /> <br />Page 7 of 7 <br /> <br /> <br />