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Member LeTourneau expressed support for the opportunity to develop an industrial park and felt <br />it would provide a needed revenue source for the City and drive the future of the community. He <br />supported Site #1 as the City's first priority and Site #6 as the second choice. <br />Development Services Manager Gladhill stated that staff would like to invite MPCA staff to <br />attend an EDA meeting to hear MPCA staff's reasons for why it is important for them to <br />maintain their site. <br />Chairperson Steffen supported Site #1 and Site #2. <br />Member Skaff supported Site #1, Site #2, and Site #6. <br />Management Analyst Brama indicated that given the EDA's support for pursuing Site #1, staff <br />proposes to begin gathering numbers and prepare a feasibility study on the site while still <br />considering other sites. He stated information will be presented to the EDA at its next meeting <br />regarding what needs to be done from a zoning perspective, as well as a TIF analysis, <br />infrastructure improvements and costs. <br />Member Riley left the EDA meeting at 9:02 a.m. <br />4.03: Prospect Update <br />Management Analyst Brama advised that Prospect Echo is a new prospect located in New Hope <br />and in Ramsey that is interested in consolidating its operations in the City, adding that staff will <br />be meeting with them today. He advised that Prospect Foxtrot is interested in a 10-12 acre site <br />but is willing to do their relocation in phases with a six or seven acre parcel now. He indicated <br />that a possible site for Prospect Foxtrot is the City's public works campus noting the City owns <br />all five parcels but utilizes only three parcels. He stated Prospect Foxtrot is interested in all five <br />parcels and would agree to purchase three of the parcels at this time; the City would then lease <br />back a portion of the site to continue its public works operations. He presented a proposed <br />project site plan and stated the City does not want to move its salt shed on the site and will need <br />to retain access to this for the time being until it finds a permanent location. He recommended <br />that staff work with Prospect Foxtrot on an option agreement or right of refusal allowing this <br />prospect the right to purchase the remainder of the property when the City is ready to allow the <br />prospect to continue on with its full expansion. He noted this prospect is on a short timeline and <br />wants to be in the building in six months. <br />Member Hardin left the EDA meeting at 9:10 a.m. <br />Member Skaff asked who would be responsible for utility extension. <br />Management Analyst Brama indicated this item is up for debate at this time, adding this prospect <br />will be asking for business assistance and there are infrastructure grants available from outside <br />agencies. He reviewed next steps and stated that a letter of intent will be prepared outlining the <br />terms of the purchase agreement, etc., and staff will work with this prospect regarding potential <br />financial assistance based on their needs. <br />Economic Development Authority/May 16, 2013 <br />Page 6 of 7 <br />