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Mr. Haid stated that PDI would provide the financing for the project as an equity partner. <br />Mr. Minea stated that PDI would not take equity in the property and would simply provide <br />financing. <br />Councilmember Riley asked the equity that Mr. Haid would put into the project. <br />Mr. Haid explained that his personal equity would be $800,000 to $900,000. <br />Mr. Minea stated that the balance, after Mr. Hai d's contribution and the City' s contribution <br />would be financed. <br />Councilmember LeTourneau stated that it is interesting and exciting and would like to see this <br />move along. He noted that this is the first time he is seeing this concept. He stated that in the <br />future he will be thinking about the investment the City would be asked for and the methods in <br />which that could be done. He stated that he would like to mitigate the risk as much as possible <br />and determine how the investment would be structured. He stated that as a community they do <br />not embrace risk well. <br />Councilmember Williams stated that she agrees with Councilmember LeTourneau. She stated <br />that this seems to be very sudden and noted that she would like to know what a community <br />center means to the residents and whether a fitness center would qualify. She agreed that this is <br />an exciting project. <br />Councilmember Shryock echoed the comments made thus far. She asked how this would play <br />along with the Lake Ramsey discussions and the facilities they have talked about providing at <br />that location. She stated that this is a wonderful concept to have something like this in the <br />community. She stated that when people say community center she thinks of the Eagle's Nest <br />where there is a fitness center, play area, and meeting rooms. She agreed that she would like to <br />continue to explore this idea. <br />Mayor Strommen stated that this is not the equivalent of a community center and instead views <br />this as a fitness center. She stated that the concept of a community center for Ramsey would <br />look very different than the Eagle's Nest. She stated that her view would be more deconstructed <br />as there are multiple locations within The COR that would provide those services. She agrees <br />that the opinion of the residents would be helpful to determine their thoughts on a community <br />center. She agreed that this should continue to move forward. She noted that this is a fitness <br />center that has its own merits and agreed that more information would be helpful. <br />City Administrator Ulrich stated that there are examples of hybrid centers, such as Champlin and <br />Andover. He agreed that there would need to be public engagement to determine if there are <br />public and private uses that could work together. He stated that this plan fits within the confines <br />of a public/private hybrid. He agreed that community engagement could help to determine the <br />public uses. He stated that the private portions of the center would take a huge financial burden <br />off the City. He stated that this is a great opportunity that fits the hybrid model and would need <br />more information on the public aspects of the model that would be desired. <br />City Council Work Session / February 14, 2017 <br />Page 4 of 7 <br />