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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 />