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demolition of buildings and site cleanup of the Subject Property. <br />The EDA and City Council authored a partial payment to Sauter & Son's in February (90%). Upon establishment of <br />turf on the Subject Property, Staff will release final payment (10%, $2,350). <br />(3) Annual Business Appreciation Golf Tournament <br />Based on tradition, Tuesday, August 20 has been selected as the date for the 2013 Annual Business Expo. Staff will <br />be working on the details of this event over the coming months. <br />(4) Business Retention & Expansion Program <br />The EDA and City Council Reviewed the 2012 Business Retention and Expansion (BR&E) Program report in <br />February. Staff was directed to continue the BR&E program in 2013, to expand the scope of target businesses and <br />to develop a branded letter to be sent to all businesses visited in 2012. Staff will begin the 2013 program in late <br />April. <br />(5) Prospect Update <br />Staff is working with five prospects considering expansion in the City of Ramsey. Said businesses shall remain <br />anonymous until directed. <br />A. The City has been working with Diamond Graphics over the past two months to negotiate the sale of City <br />owned Property located at 14280 Azurite Street NW. See attached reference map. <br />The Subject property is 4.8 acres in size, is located on the north side of Bunker Lake Boulevard adjacent to <br />MultiSource Manufacturing and Diamond Graphics. The Subject Property is zoned Employment 1 (El). <br />The Council approved the sale of the Subject Property on March 26, 2013 for the price of $410,000 to <br />Diamond Graphics. Moving forward, the Council needs to adopt an ordinance to sell the Subject Property; <br />Staff will be drafting and executing a purchase agreement with the buyer. <br />B. A large/significant Ramsey manufacturing has expressed interest in making a significant expansion in <br />Ramsey. Since December, this prospect has shown no activity. This prospect is cold. <br />C. This prospect is interested in expanding a function of their businesses from 5,000 to 10,000 square feet. <br />Their primary business is located in a facility they own, totaling 60,000 square feet. They have additional <br />space within their existing location in which they lease out to a significant Ramsey manufacturer. The will <br />be taking over that space in the summer of 2014. <br />Staff is contacting said lessee to find a solution for their business in Ramsey. <br />D. A medium sized Ramsey manufacturing company has expressed interest in expanding their existing <br />20,000 square foot facility by 10,000. This prospect has indicated they are working with builders to develop <br />cost estimates. <br />E. A small sized, quickly growing, Ramsey manufacturer has expressed interest in an expansion to their <br />existing 10,000 square foot facility. They intend to expand this summer; and will be looking for a long term <br />home for their business in 2014. <br />F. A small sized, quickly growing, Ramsey concrete business has expressed interest in purchasing City <br />owned property located off of Ramsey Boulevard and Highway 10. This successful business needs room to <br />expand in the next 1-2 years. Today, they are working with contractors to develop cost estimates. <br />(6) Economic Development Manager <br />