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Mr. Mulrooney explained to the Board the reason why they would want to create a new TIF <br />District rather than use the money in the current TIF District. <br />Chairperson Steffen asked where Life Fitness is at in terms of projects. <br />Econ. Dev. Mgr/Assistant City Administrator Brama stated they have not and cannot start their <br />project until this process is complete. <br />Chairperson Steffen thought staff and the advisors explained why this is the best solution. <br />City Administrator Ulrich stated he could see if the City Finance Director would be available to <br />come down to discuss with the Board the options available. <br />Mr. Aarsvold stated they can help on what the pooling requirements would be. <br />Chairperson Steffen stated he liked the idea that this project fits into the District and they will <br />have extra funds to use elsewhere. <br />Motion by Member Skaff, seconded by Member Burandt, to recommend the City Council adopt <br />the Resolution to Modify Development District 1, Establish TID District 15, and adopt a Plan for <br />TIF District 15 and finalize and adopt the attached Development Agreement between the City of <br />Ramsey and Brunswick Corporation. <br />Further discussion: Chairperson Steffen indicated he would like the additional piece available <br />for the City Council. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Skaff, Burandt, Brunt, Riley, <br />Williams. Voting No: None. Absent: Member Hardin. <br />4.03: Consider Authorizing Economic Development Analysis for the City's Potential <br />Future Business Park <br />Econ. Dev. Mgr/Assistant City Administrator Brama presented the staff report to the Board and <br />asked Mr. Mulrooney to discuss the analysis with the Board. <br />Mr. Mulrooney reviewed the three phases of the project with the Board. He believed they could <br />complete each phase within a 90-day timeline. <br />Chairperson Steffen asked if they decided to proceed would he envision being back before the <br />Board in October with a market analysis. Mr. Mulrooney indicated that was correct. <br />Econ. Dev. Mgr/Assistant City Administrator Brama stated to note in the recommendations <br />section, when they consider the funding source for this work, the EDA annually does budget as <br />significant dollar amount for miscellaneous professional services and staff would consider this in <br />line with that work. They do have nearly sufficient funding left in that account to complete this <br />Economic Development Authority/September 3, 2015 <br />Page 3 of 7 <br />