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Mr. Pankratz explained why it is difficult to compare fees with other cities because it depends on <br />many factors including the motivation of the City to attract development, but he thinks Ramsey's <br />fees are average. He noted that if the approval process is aggressive, it can remove that concern <br />for the developers. <br />Mr. Pankratz described their methods of marketing that included monthly e -mail blasts, <br />marketing brochure updates, tracking new developments and market information, and being in <br />constant contact with City staff on inquiries, prospects, and status of agreements. He stated they <br />have received over 200 inquiries in the past year, closed one deal with four single - family lots, <br />and have four more under purchase agreement. <br />Mr. Palmiter stated they constantly point people towards Ramsey and the opportunity that is <br />here, which is now showing up in the results. <br />City Administrator Ulrich asked about the market's perspective of The Residence that recently <br />sold to a nationally recognized company. <br />Mr. Pankratz stated that company is known for holding its property long -term (40 -50 years) as <br />they are proud of the projects they own and take care of them. <br />Asst. City Administrator/Economic Development Manager Brama stated staff has had a very <br />good working relationship with CBRE and found they bring a lot of value and professionalism. <br />He thanked Messrs. Pankratz and Palmiter for their work with staff. <br />Councilmember Riley asked about the timing to release the marketing piece. <br />Asst. City Administrator/Economic Development Manager Brama stated the marketing piece in <br />the Council's packet is an older version. <br />Mr. Pankratz stated he will verify that marketing piece has been updated. <br />Councilmember LeTourneau stated the Council's decisions came with some assumptions on how <br />the property will come to market and be priced. He asked if it is time to reevaluate anything, <br />such as pricing. <br />Mr. Pankratz stated they have had a number of people show interest and the few purchase <br />agreements that have not worked out were not based on pricing but were related more to the <br />buyer not being able to build a large enough building/parking lot to serve their needs and handle <br />stormwater or there was an issue related to access. He stated the City may need to be creative on <br />a few lots if they are of odd shape and discuss whether a lower price makes sense to get the <br />property back on the tax rolls. <br />Mr. Palmiter stated developers are not going elsewhere due to the land price and when demand <br />comes, the price will be close. <br />City Council Work Session / April 14, 2015 <br />Page 5 of 7 <br />