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4. EDA BUSINESS <br />4.01: Platinum Properties Purchase Agreement <br />Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. <br />Jeff Hagen and James Polk from Platinum Properties, Jason Jacob, Adrenaline Properties, and <br />Brian Pankratz, City Broker, were at the meeting. <br />Mr. Hagen, Platinum Properties, introduced himself to the Board and provided background <br />history of his company. <br />Mr. Polk, Platinum Properties, introduced himself to the Board. <br />Mr. Jacob, Adrenaline Properties, introduced himself to the Board and provided background <br />history of his company. <br />Mr. Polk made a presentation to the Board. <br />Chairperson Steffen asked what they like about Ramsey and this site. <br />Mr. Hagen stated he did not know anything about Ramsey until Mr. Pankratz sent him an email <br />and the City looked interesting to him. He said Ramsey has everything that would be found in a <br />downtown. He stated there is a need for more space and the strongest markets are in the West <br />and North West Twin Cities. He noted Adrenaline Properties helps by being involved in the <br />project. He stated the highway system to Ramsey is very good. <br />Chairperson Steffen asked how long Mr. Hagen anticipated the other half of the building to sit <br />empty. <br />Mr. Polk indicated he did not know. Their main goal is to get Building B leased up and then <br />they will move onto Building A. He stated they cannot build both building at once and once they <br />get Building B leased up he did not have a problem moving forward with Building A. He stated <br />this really is contingent on Ramsey and what type of tenants they are looking for. <br />Mr. Hagen stated it is a really tough question to answer but has a good feeling about leasing the <br />building up. He thought once they get going on this they will get the balance of it being leased <br />and get commitments of smaller businesses for the next building. <br />Member Skaff asked who the tenant pool will be that they will be seeking. <br />Mr. Hagen stated it is any kind of business. Building B will have larger bays so will lease to <br />larger companies and Building A will have smaller bays for the smaller type company. <br />Member Skaff asked if there is a possibility of some retail in the buildings. <br />Economic Development Authority/September 1, 2016 <br />Page 2 of 6 <br />