Laserfiche WebLink
Azurite Street Sewer and Water Project: Ms. Wald explained that construction is underway for <br />the construction of sewer and water extension in Tax Increment Financing District No. 2. <br />Construction of the utilities will be complete this year and the final overlay will occur during <br />2004. This project will serve the newly acquired Chies and Morrell parcels as well as other <br />properties in the area. <br /> <br />Panther Precision Machine: Ms. Wald stated that the $95,000 disbursement supplied by a MIF <br />Grant from Department of Employment and Economic Development (DEED) was made to <br />Panther Precision on November 3, 2003. The funds are being used to finance a machine for <br />Panther. Special thanks should be directed to Mike Mulrooney of Advance Resources for <br />Development and Cheryl Johnson of DEED for all their assistance in this process. The City will <br />receive the payments for the loan and will be able to loan the money out again for qualifying <br />projects through its revolving loan program. <br /> <br />2003 New Industrial Construction: Ms. Wald advised that Precise Metalcraft, Basalt Properties <br />and Paddock Investments have all started construction of their projects. Completion of these <br />projects should be around years end. Rum River Dental Creations has yet to start construction <br />on their facility but it should begin very shortly. The four projects, along with Panther Precision <br />has lead to quality job growth in the City of Ramsey. <br /> <br />2004 CDBG Grants: Ms. Wald reported that City staff met with Karen Barton of Anoka County <br />CDBG on October 15th, 2003. She outlined the types of projects the grant money could be used <br />for and encouraged the City to seek additional funding to complete the Chics and Morrell <br />transactions. City Staff will be meeting on November 4th tO discuss projects that the City might <br />be willing to submit. Projects that the EDA has expressed interest in as well as new projects will <br />be discussed at that meeting. Ms. Wald reviewed a copy of an e-mail between Karen Barton and <br />the City outlining some possibilities of four projects that can be explored. <br /> <br />MEMBER INPUT <br /> <br />There was nothing new at this time. <br /> <br />ADJOURNMENT <br /> <br />Motion by Member Steffen, seconded by Member Gromberg, to adjourn the meeting. <br /> <br />Motion carried. Voting Yes: Members Steffen, Gromberg, Kiefer, Kurak, LeTourneau, and <br />Strommen. Voting No: None. Absent: Chairperson Riley. <br /> <br />The regular meeting of the Economic Development Authority adjourned at 7:59 p.m. <br /> <br />Respectfully submitted, <br /> <br />Economic Development Authority/November 12, 2003 <br /> Page 4 of 5 <br /> <br /> <br />