Minutes - Economic Development Authority - 03/09/2017

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Mr. Johnson stated he would be as flexible as possible. He stated a firm like CBRE has a strong international and national reach and he would choose CBRE's path if just starting out. Secondly to that and as it would relate to engaging a developer, their interest in land anywhere is very tenant driven. He stated they could have a project built within twelve to twenty-four months. Chairperson Steffen stated the City has about 150 acres of available retail land located within/adjacent to The COR today. He asked if it was realistic for Ramsey to absorb that much retail land. Mr. Johnson thought right now there was too much land here for retail. He did not think it needed to be rezoned right away but they should look at the next step of retail development after the grocery. He thought better retail would be larger box stores such as Michaels, JoAnn Fabrics, Maurice's, TJ/MAXX, etc., which from a real estate risk profile, would be more difficult for a developer to do. He did not think there was the population or critical mass to pull that off. He would advise the big power centers to be built such as Home Depot, Menards, Lowe's, Fleet Farm, etc. Mr. Johnson stated, in closing, the best strategy would not be doing just another convenience store, the question is how do they grow the tax base. CBRE is already aware of this. He stated there is shovel ready, utility stubbed, soil corrected, large parcels of land in Minneapolis and there are very few of those left. People will be coming out further to surrounding communities. He stated Ramsey was probably in the position to respond to a larger land owner such as a manufacturing business use. The EDA thanked Mr. Johnson for his attendance at the meeting. 4.02: Anoka County Open-to-Business Program Update Economic Dev. Mgr/Assistant City Administrator Brama stated Kathleen DuChene with the Anoka County Open-to-Business Program was present to provide an update. Ms. DuChene updated the Board on the Open-to-Business Program in Anoka County and customers they have helped get financing and start, and grow their businesses. Ms. DuChene stated the trends she has seen in the last few years are very little brick and mortar businesses. A lot of new businesses are inside the home and online women's boutique businesses. She stated she has helped a business owner put together an online business in the travel industry for women who want to travel but travel alone. She stated another trend is micro- breweries and organic home to table micro greens businesses. She noted the pet industry is growing and specialty foods, mostly ethnic foods, and pastries and baked goods are also growing. Ms. DuChene thought there was a lot going on in different industries and retail is changing rapidly. She stated big box stores are having difficulties and closing stores and there are more global markets and more online shopping is happening. She thought there were some implications for economic development in cities and economic development brings in business Economic Development Authority/March 9, 2017 Page 3 of 11