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Further discussion: Councilmember Williams stated that given the absence of the cross access <br /> easement language she cannot support the motion. <br /> Councilmember Riley withdrew this second of the motion. <br /> The motion failed for lack of second. <br /> Asst. City Administrator/Economic Development Manager Brama stated that the Council can <br /> either move forward with the proposed motion which was silent of the language regarding cross <br /> access easements, or the Council can reach consensus on whether to include the cross access <br /> easements. <br /> City Administrator Ulrich stated that the Council can approve the purchase agreement with the <br /> additional language and staff can work with the City Attorney. <br /> Motion by Councilmember LeTourneau, seconded by Councilmember Riley, to approve the <br /> purchase agreement with Stone Brook Academy for one acre of land located near the center of <br /> The COR for a children's academy and childcare center, with the inclusion of a provision that <br /> the purchaser provide a cross easement with language acceptable to the City Attorney. <br /> Motion carried. Voting Yes: Mayor Strommen, Councilmembers, LeTourneau, Riley, Johns, <br /> Kuzma, LeTourneau, Shryock, and Williams. Voting No: None. <br /> 7.04: Approve Request from Ramsey Business for Use of EDA Revolving Loan Fund; <br /> Case of American Print & Digital <br /> Asst. City Administrator/Economic Development Manager Brama reviewed the case and the <br /> recommendation to approve the request from a Ramsey business, American Print& Digital, for <br /> use of an EDA Revolving Loan Fund. He provided an update that has occurred to provide a <br /> different collateral than originally approved. <br /> Councilmember Kuzma stated that there is a big different between a second mortgage on a home <br /> versus used equipment. He stated that if there was a problem it would be easy for the business <br /> owner to walk away and it would be risky for the City to recoup the cost. He stated that he <br /> would not support this item. <br /> Councilmember Riley stated that as discussed earlier, the position of the City is not to act as a <br /> bank but as a lender of last resort. He stated that this is a business loan and it makes more sense <br /> to have business collateral rather than a personal residence. He stated that the City now has the <br /> first position which is stronger than a second position and therefore he will continue to support <br /> this item. <br /> Motion by Councilmember Riley, seconded by Councilmember Williams, to approve the request <br /> from American Print and Digital for use of the EDA Revolving Loan Fund in the amount of <br /> $72,500 subject to the items in the case. <br /> City Council/March 14,2017 <br /> Page 9 of 10 <br />