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Member Riley asked if Mr. Gleason will be able to use the existing utility stubs. <br />Mr. Gleason explained how they will work the utilities into the development. He did not think <br />this would be good areas for children so he thought it would be for couples without children. <br />Member Skaff asked what the timeframe is for the development. <br />Mr. Gleason reviewed the process they go through before the actual construction work is done. <br />He noted they would build two models and show it and hope to be fully development within the <br />first year. <br />Mr. Pankratz stated this will be an age targeted development and would be detached townhomes. <br />Chairperson Steffen thought Mr. Gleason had a great plan for this parcel and was generally in <br />favor of the agreement. <br />Member Skaff agreed and thought the price point was right and the market is out there. <br />Economic Dev. Mgr/Assistant City Administrator Brama asked if the EDA wanted staff to work <br />with Coastal Living to negotiate a construction deadline. <br />The EDA agreed to have staff work with Coastal Living to negotiate a construction deadline. <br />Motion by Member Steffen, seconded by Member Skaff, to recommend to City Council to <br />authorize staff to execute the attached Purchase Agreement with Coastal Living and Homes for <br />OUTLOT A of Ramsey Town Center 8th Addition, subject to the review and approval of the City <br />Attorney. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Skaff, Burandt, Hardin, Riley, and <br />Williams. Voting No: None. Absent: Member Brunt. <br />4.04: CBRE Update <br />Brian Pankratz, CBRE updated the EDA on Ramsey's market snapshot. <br />4.05: 2016 Annual EDA Business Expo Recap <br />Public Information and Event Specialist Wenberg updated the EDA on the 2016 Annual EDA <br />Business Expo. <br />Member Riley asked if Ms. Wenberg received feedback from the businesses after the business <br />expo was done. <br />Ms. Wenberg stated general consensus was the businesses felt attendance was down but overall <br />felt it was worth it and she received positive feedback from the vendors. <br />Economic Development Authority/May 5, 2016 <br />Page 8 of 9 <br />