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Economic Development Authority (EDA) 4. 7. <br />Meeting Date: 04/11/2013 <br />Submitted For: Patrick Brama By: Patrick Brama, Administrative Services <br />Title: <br />UPDATES <br />Background: <br />Updates, Multiple: <br />1. Annual EDA Business Expo <br />2. 8020 147th Ave NW, Nordvick Property <br />3. Annual Business Appreciation Golf Tournament <br />4. Business Retention & Expansion Program <br />5. Prospect Update <br />6. Economic Development Manager <br />Observations: <br />(1) Annual EDA Business Expo <br />Saturday, May 4, 2013 - 9:00 am to 2:00 pm <br />Below is a status update on a number of items related to this event: <br />• Venue: Fountains of Ramsey, Secured ($350), 35 tables needed ($385) <br />• Event Flyer: Created, see attached <br />• Marketing: <br />o Mailers, 9,000gty, color half page ($2,300), 2-3 weeks before event <br />o Mobile Sign Boards, Five ($750), 3 weeks before event <br />o PACT Charter, Color Full Page, 1,800gty, ($350) <br />o Ramsey Resident, Facebook, Dynamic Display (free) <br />• Exhibitor Registration Form: Created, see attached <br />o Past participating exhibitors have been contacted <br />o Staff personally contacted 50 businesses <br />o Registration is full <br />Budget for this event is $3,500. Considering items above, expenditures will be $4,500. Staff estimates revenues <br />will be $1,350. The difference between estimated costs and revenues would be $3,150 ($3,500 budgeted). <br />Therefore, the EDA would have an estimated $350 balance. <br />(2) 8020 147th Ave NW, Nordvick Property <br />The City of Ramsey is in the process of improving the existing Highway 10/Armstrong Boulevard intersection to a <br />highway overpass/interchange. Part of this process required the City to purchase privately owned land to dedicate <br />for future right of way (ROW). <br />The EDA became involved in this process when they assisted the purchase of a property located at 8020 147th Ave <br />NW ("Subject Property"). A small portion of the Subject Property will be dedicated for future ROW. The larger <br />remaining portion was intended to be used for economic development purposes. <br />The property located at 8020 147th Ave NW contained two commercial buildings; along with various other site <br />improvements. In order to prepare the site for future development, the EDA contracted with Sauter & Son's for the <br />