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Motion carried. Voting Yes: Chairperson Steffen, Members Skaff, Riley, Brunt, Burandt, and <br />Hardin. Voting No: None. Absent: Member Williams. <br />4. EDA BUSINESS <br />4.01: Prestmore Academy & Daycare Purchase Agreement for OUTLOT B of CORE <br />ONE <br />Economic Dev. Mgr/Assistant City Administrator Brama stated the purpose of the case is to <br />review a draft project concept. The case is expected to come back to the EDA/Council in <br />January to be reviewed formally. The intent of the case is to provide the prospect with <br />preliminary feedback, identify any major red flags, and to provide a counter offer of any major <br />deal points, if desired. <br />Economic Dev. Mgr/Assistant City Administrator Brama reviewed the background of the case. <br />He noted Mr. and Mrs. Johnson reviewed sites in Ramsey and neighboring cities. The COR is <br />their ideal location, and where they are proposing their new facility. They looked at multiple site <br />locations within the COR. This is their most desired site, they like that it is centrally located, is <br />on Sunwood Drive, good access, good visibility and near residential development and future <br />development. They like that the site is reasonably priced. <br />Member Williams arrived at 7:35 a.m. <br />Mr. and Mrs. Johnson were introduced to the Board, made a quick presentation and were <br />available for questions. <br />Chairperson Steffen asked what kind of market research have they done that indicates 150 <br />children would fit into the COR area. <br />Mr. Johnson stated there are numerous records and research that has been done through the State <br />which they have reviewed. He stated the building market has increased and foreclosures have <br />decreased and people are choosing to live here in Ramsey. There are a lot of people who <br />commute from Elk River to Anoka or downtown. He felt there is a big call for child care in the <br />area. <br />Chairperson Steffen asked what the price point would be for the child care. <br />Mr. Johnson stated they took the prices from the high end to the lower end to find out what the <br />area would allow. He stated the prices will fit the market value for the area. <br />Member Skaff asked what the age range would be. <br />Mr. Johnson stated it would range from infant to pre-school and with the PACT school in the <br />area they would like to work with them. <br />Member Skaff asked if they were planning on operating the business or just own it. <br />Economic Development Authority/December 8, 2016 <br />Page 2 of 11 <br />