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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. Raid'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 />