Agenda - Economic Development Authority - 04/10/2014

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(8) Casey's General Store The City received a letter of interest (LOI) from Casey's General Store for purchase of property in the SW quadrant of the Sunwood Dr. and Ramsey Blvd. intersection. On January 14th, the City Council made a motion to accept to the LOI and move forward with negotiations to craft a purchase agreement (PA) to be brought back for final approval. Staff has been working with Casey's to provide infrastructure information, development cost estimates, and design related information. Ramsey's City Attorney has directed Staff to allow for a purchase agreement to be crafted by Casey's. Review of the PA will start with internal Staff and be brought to Council at a future meeting for approval. 3/7/14 Casey's stated the PA is under construction —both Legal and Design Teams are reviewing the design standards (City Staff has had extensive conversations on design with Casey's) and will incorporate design/development details into the PA ensuring clarification of expectations for both parties. Update Staff communicated with Casey's in regards to various development/design related concerns. Casey's continues to develop the PA. (9) Armstrong Interchange Update Staff will provide an update upon the close of the Legislative Session re: funding for the Armstrong Interchange. (10) Sunfish Express Staff and Council recently received notification from Sunfish Express (Shell gas station, Cousin Subs, and Taco-Pulco) that the business will be closing its doors. Sunfish Express stated a large factor in their decision to close was access to the property after the medians on Sunfish Lake Blvd. were installed. On January 28th, Ramsey HRA discussed the topic as an update item on the agenda. HRA Members expressed concern with the closing of the business. It was generally agreed upon that this topic be added to an HRA/EDA meeting in the future. Staff will contact the real estate agency charged with marketing that node to discuss opportunities and challenges. Upon receiving their feedback Staff is recommending the EDA discuss the "node" more formally. No action to date. (11) HRA Dissolution Staff will provide the EDA an update on 4/10 due to a City Council presentation by City Attorney Joe Langel on dissolution strategies on 4/8. Dissolution of the HRA has been identified as a priority in the Council's Strategic Plan.