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Motion by Member Riley, seconded by Member Hardin, to approve the December 3, 2015, <br />minutes as presented. <br />Motion carried. Voting Yes: Acting Chairperson Skaff, Members Riley, Hardin, Brunt, Burandt, <br />and Williams. Voting No: None. Absent: Chairperson Steffen. <br />4. EDA BUSINESS <br />4.01: Review Update on the City's Potential Future Business Park — Economic <br />Development Analysis <br />Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. <br />Chairperson Steffen arrived at 7:36 a.m. <br />Economic Dev. Mgr/Assistant City Administrator Brama reviewed the findings report. <br />Member Skaff asked if the land the EDA owns is considered industrial or would it be considered <br />retail. <br />Economic Dev. Mgr/Assistant City Administrator Brama stated it is zoned COR Retail 2. <br />Chairperson Steffen stated his biggest concern is Elk River and how does Ramsey compete with <br />them when Elk River owns their land and Ramsey does not. <br />Economic Dev. Mgr/Assistant City Administrator Brama stated there are a handful of ways to <br />compete. There is an advantage to keep the businesses you have and often times economic <br />development is more about being ready for a prospect. They want to make sure they are ready <br />and respond quickly. He stated one advantage Ramsey has over Elk River is a lower tax rate and <br />better selling points. He thought they could be competitive and Ramsey land prices will be <br />comparable. <br />Mr. Mulrooney thought the City needed to be as site ready as they can be. He noted the roadway <br />needs to be upgraded at some point. One way they can compete is to keep a healthy and <br />cooperative relationship with the landowners. <br />Member Williams asked if Elk River' s property listed by CBRE, the same team that lists <br />Ramsey' s. <br />Economic Dev. Mgr/Assistant City Administrator Brama did not believe so. He believed the <br />County owned some of the property in Elk River. He stated today their existing business park is <br />nearly full and new business is looking at land that needs to be built upon. <br />Member Hardin did not believe it was listed with them. He noted in addition to TIF, Elk River <br />also does tax abatement for companies, which Ramsey and the County do not offer. <br />Economic Development Authority/January 7, 2016 <br />Page 2 of 5 <br />