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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 />