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Economic Development Authority (EDA) <br />Meeting Date: 11/05/2015 <br />Submitted For: Patrick Brama, Administrative Services <br />By: Patrick Brama, Administrative Services <br />Title: <br />Review Update on the City's Potential Future Business Park - Economic Development Analysis <br />Purpose/Background: <br />PURPOSE: <br />Review update on the City's potential future business park - economic development analysis. <br />4. 4. <br />It should be noted, the "economic development analysis" includes three steps. The purpose of this case is to review <br />work completed for step #1 and authorize step #2. <br />STEPS <br />(1) Market Analysis <br />(2) Cost -Benefit Analysis <br />(3) Alternatives and Recommendations <br />BACKGROUND (Economic Development Analysis): <br />At the September EDA meeting, ACG Consulting was authorized to complete the attached professional services <br />work order --an economic development analysis for the City's potential future business park. Please see attach case <br />MEMO and work order proposal from ACG Consulting for detailed background information (three step process). <br />BACKGROUND (Future Business Park): <br />Please see attached "Background" and "Process & Next Steps" documents for details. In summary, the EDA/ <br />Council are currently in the middle of a process to consider pursuing a new future business park for the City of <br />Ramsey. <br />NOTE: the analysis will be emailed to EDA members individually; and will not be attached to this case <br />Notification: <br />NA <br />Observations/Alternatives: <br />NA <br />Funding Source: <br />EDA Miscellaneous Professional Services Account. <br />Recommendation: <br />NA <br />Action: <br />