Agenda - Economic Development Authority - 03/15/2015

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needs. The Open to Business program can also offer professional referrals and link businesses to additional resources such as training programs, community or government services, and other industry or business professionals. For more information or to get started call 763- 438 -7315, email info(& opentobusinessmn.org, or visit www. opentobusinessmn. org. RALF and Armstrong City Owned Properties RALF: Over the past 45 days staff has spent a considerable amount of time working with tenants located on City owned properties along Highway 10 (commonly known as RALF properties). PACT Charter and Northern Light leases are due for renewal in 2015; and both new leases may require modifications to the premises. Staff expects lease proposals for both users to come forward in the next 60 days to the City Council. Youth First is in the process of designing a new, commercial - grade, kitchen for their space. A request for these improvements will come to the Council in the next 60 days. Staff continues to work with Independent Auto regarding number of property maintenance issues and other outstanding items. ARMSTRONG: Over the past 60 days staff has spent significant time working with previous property owners /tenants located on City property purchased for the Armstrong Interchange project. Anoka County, will be taking over the process of site demolition and clean-up for said properties in March. Staff is working with Anoka County to ensure all properties have been vacated by tenants; and all equipment and personal possessions have been removed. This includes an auction for equipment left in the Wiser Choice Liquor store building. F &C (Residence at The COR) Refinance /Sale As of late February, F &C has indicated they are now selling their property in Ramsey rather than refinancing. They expect to close on this sale in late March. As a result of F &C pursing a sale rather than a refinance, the City Council will need to re -adopt a set of new/ updated resolutions and amendments related to pervious agreements with F &C (this will be the second time the Council will review/ adopt said documents). Purchase Agreements: PSD LLC Currently completing preliminary design for site plan and preliminary plat. Expected for April Planning Commission and Council review. The project is one month behind the originally anticipated schedule. If the applicant is able to move forward efficiently, the original closing date of May 1 can still be attained. NIK Management: Currently completing preliminary design for site plan and preliminary plat. Expected for May Planning Commission and Council review. This project is one month behind the originally anticipated schedule; however, still will be able to close in the time -frame desired by the bueyer (June 1). NIK Management has contacted staff regarding potential City financing solutions for public improvements. NIK Management has indicated they are no longer considering said option. Casey's General Store Have attained site plan and plat approval. This project is nearly ready to close; Casey's is currently resolving title issues. Closing is set to take place no later than April 23. 24 Restore Staff has not received an executed copy of the PA from 24 Restore. Staff has received word from the Buyer's broker that 24 Restore may not be willing to move forward with this Purchase Agreement (due to unexpectedly high project costs). Updates to come. Staff is working with this prospect to develop alternatives. Common Bond Communities Currently completing preliminary design for site plan and preliminary plat. Expected for June Planning Commission and Council review. This project is two months behind the originally anticipated schedule. The original PA calls for a May 01 closing; and includes the ability to extend to July 01. Staff expects Common Bond to exercise this provision in the PA (to extend) in the next 30 days.