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(4) Sophia- Ramsey Agreement Termination Request Update Staff will bring the EDA's recommendation to the City Council on January 14t The EDA's recommendation from our last meeting is to: recommend accepting Sophia - Ramsey's request for termination realizing a savings of $3,524.80. All indicators (taxes paid, assessments, utility billing, and licenses) point in a positive direction. (5) Prospect Updates Staff has been and will be reaching out to existing and potential prospects (existing businesses) in conjunction with the BR &E effort. Prospect Alpha Update A Ramsey precision manufacturer is experiencing significant growth and is looking to expand at their existing location in 2014. However, due to size limitations of their existing site, this manufacturer is also looking for a long term solution. Staff is working with this prospect to provide options for expansion on their existing site as well as other locations in Ramsey. NOTE: Staff has worked with this prospect multiple times over the past few years. This prospect has indicated interest in utilizing State and City loan funds for the purchase of a 5 -axis CNC machine. Prospect was offered assistance in filling out the applications (walking them through the process) — applications were provided. No feedback to date. Staff brought the prospect's expansion plans to the Development Review Committee. The Committee agreed to entertain the requests of the business. The Committee requested a sketch of the building layout from the prospect to provide greater detail /understanding of the variance requests that will be brought to the Planning Commission for review. (6) Business Retention & Expansion Program (BR &E) Update EDA agreed to tap into the BR &E resources that Greater MSP has to offer — creating local efficiencies (recording, developing reports, tracking, etc.) and greater regional cooperation to drive economic development. Staff has started to combine Ramsey's specific survey with Greater MSP's for use in visits in 2014. A priority list of businesses has been created (prior to Ted's arrival). EDA requested EDA Members be involved in business visits. (7) Greater MSP Presentation Staff has contacted Greater MSP to provide an informative presentation to the EDA at an upcoming meeting, potentially on January 9th.