Laserfiche WebLink
Mr. Pankratz stated he has had inquiries from a couple of convenience stores and large box <br />stores. He indicated that things are picking up and as the population grows there will be more <br />commercial development happening. <br />Member Williams asked who the City would advertise to in the print ads that they are not <br />targeting now. <br />Mr. Pankratz stated that would target attorneys, architects, new deals or new developments that <br />may not know about Ramsey as well as the groups that are out there currently. He reviewed with <br />the Board restaurants in the City and how they can promote more restaurants to come to Ramsey. <br />Chairperson Steffen wondered why the City made a sunset clause for the restaurant subsidy and <br />if they were losing restaurants because it is no longer in effect. <br />Mr. Pankratz indicated they were not. <br />Member Riley stated the City Council did the Sunset Clause on purpose because they wanted to <br />get out of subsidizing restaurants. He indicated if the City would want to reinstate it they could <br />but he would need additional discussion. They specifically had the subsidy for a short amount of <br />time to hopefully get some businesses in and easily get out. <br />Member Skaff stated at that time they were not in the retail business and their emphasis was not <br />necessarily promoting retail as far as the EDA and he was not against going back to that either if <br />it helps in the total plan of building business. <br />Member Riley stated Ramsey was at a distinct disadvantage because if the business was going <br />into a pre -established restaurant site in another city the water credits had already been paid and <br />so with Ramsey, the business would have to go into a brand new site and they would have paid a <br />minimum of getting that multi -tenant building and for a restaurant to go into the building there <br />was a large additional cost to get the extra water credits so that was putting Ramsey at a <br />disadvantage over another city were they could go into an existing restaurant site. <br />Member Burandt asked what the value was of the incentive Acapulco received. <br />Econ. Dev. Mgr/Assistant City Administrator Brama thought it was around $150,000. <br />Member Riley stated it was tied to the building and the subsidy was given directly to the landlord <br />but flowed through as a rent reduction and there was an earn -out attached to it. <br />Chairperson Steffen thought they would consider the subsidy again if they actually had a deal on <br />the table. <br />Mr. Pankratz stated there is that distinction that needed to be made. They need to identify what <br />kind of restaurant the City would want, a fast food type or sit down type of business. <br />Economic Development Authority/August 13, 2015 <br />Page 3 of 7 <br />