Minutes - Economic Development Authority - 09/13/2012

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City Administrator Ulrich stated the EDA has its own funds, e.g., the Revolving Loan Fund that could be used to do economic gardening either with the County or with a private consultant. Management Analyst Brama advised that staff will present a structured approach regarding this program at the next meeting including whether to pursue economic gardening through the County. City Administrator Ulrich added the proposal for EDA consideration will include how this program might be done with EDA money using services from the County without using the levy and availability of other funding sources. 4.05: Prospect Update, Mike Mulrooney Mr. Mulrooney reported he met with a manufacturing company currently located in a neighboring community and presented two possible sites. He stated the 50,000 square foot building was more expensive than this prospect anticipated and the manufacturing company has cut back its plans to either expand its current location or go with a smaller facility. He stated he identified a 24,000 square foot building for $1.5 million with outside storage is waiting for feedback from the prospect. Mr. Mulrooney reported that an existing Ramsey business, that has a second location in Rogers, is expecting to move its operations completely out of Ramsey into their second location. This business constructs custom canvasses for boating and commercial industry. Lakes Region RV is planning on taking over the building/lot left vacant by the former Ramsey business and expanding into the adjacent lot. Lakes Region RV is relocating from their existing store on the west side of the City. He reported he met with another prospect yesterday involved in precision manufacturing that is looking to double the size of its facility. He stated he anticipates the City will receive another request for RLF financing for equipment related to that expansion at its next meeting. Member McGlone stated he had a conversation with a prospect who is interested in moving their dance studio from Andover to Ramsey. 4.06: 2013 EDA Budget City Administrator Ulrich indicated that the City Council did not approve the additional levy allocation and the City Council reduced the HRA levy. He stated that operating expenses remain the same as last year with slight increases in basic personnel functions. He added that the 2013 EDA budget does include a full -time HRA/EDA person to focus on assisting this group. Chairperson Riley stated the 2013 EDA budget will be on the October 11 EDA agenda for formal adoption. Member Wise left the meeting at 9:00 a.m. Economic Development Authority /September 13, 2012 Page 6 of 9