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Member Riley asked how long should the RFP process be. <br /> Ms. Bell stated it depends on what the City is looking for. <br /> Member Riley asked Ms. Bell to talk about the possibility of purchasing the property, how much <br /> Kraus Anderson would involve the City and their vision for the property and also how else Kraus <br /> Anderson would work with the City, another format that would keep the City vision and City <br /> control a little bit more. <br /> Ms. Bell stated this is a tough one to answer because Kraus Anderson has not done any studies or <br /> FIT tests on it. She understood the City has a vision of strong retail draw so assuming this would <br /> be the only thing Kraus Anderson could do is retail she would let the City know they will have a <br /> hard time getting off the ground because her gut feeling is that is probably too much. She would <br /> want to do a market study to see how saturated the context, where is the draw. It is not a perfect <br /> circle or ring that crosses geographic border. It has to be realistic. It is an uneven line that goes <br /> all over the place. That begins to tell her how much retail can fit in an area. She did not know <br /> the way this market is drawn if it can support a large box retailer so she would need to find out <br /> what this market can support and what are the complimentary categories the City may not have <br /> thought of or could use more of She would love to be able to execute the City's vision as they <br /> see it. She noted this is an informational study and she was not sure they were there yet. <br /> Ms. Bell thought flexibility was important and in everyone's best interest to succeed. She stated <br /> Ramsey needs to know its own market and always think about sustainable needs and to be open- <br /> minded. <br /> Chairperson Steffen stated Ramsey's land has been for sale for a few years and Kraus Anderson <br /> has not made an offer on the land,which tells him there is something off, price or positioning. <br /> Ms. Bell stated that is true but Kraus Anderson has been in a different mode as a company for a <br /> long time. She stated construction has been a leader and development has been more ancillary. <br /> Their clients are the key and Kraus Anderson does not market or typically go after business. <br /> They typically have repeat clients so those relationships are well worn so the need to go out and <br /> look for and the need for people to find them is less. She added their development company is <br /> less than a year old—their strategy is different. <br /> Chairperson Steffen asked if Kraus Anderson did not have ownership interest, would they work <br /> on some sort of consulting arrangement with the City and would their compensation be some sort <br /> of retainer, or project based or results based. <br /> Ms. Bell stated this would be scope based; what are Ramsey's needs and how do they want to <br /> scope it. There is no definitive answer. It could be fee based. <br /> Kraus Anderson left the meeting. <br /> Economic Development Authority/February 9,2017 <br /> Page 4 of 10 <br />