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Member Williams stated that she has experience as a parent of a child that went to Adrenalin <br /> Sports, and once this is open she will go to Acapulco rather than stay at Adrenalin. She believes <br /> that many other parents will do the same and frequent businesses in The COR. <br /> Motion by Member Williams, seconded by Member Hardin, to recommend to City Council to <br /> accept a business subsidy application from PDS LLC and call for a public hearing on July 25, <br /> 2017. <br /> Motion carried. Voting Yes: Chairperson Steffen, Members Williams, Hardin, Burandt, Riley, <br /> and Skaff. Voting No: None. Absent: Member Brunt. <br /> 4.0.6: CBRE Update <br /> Mr. Pankratz provided the first quarter statistics metro wide, noting that net absorption for office <br /> and retail are negative. He stated that the retail world is changing as many retailers continue to <br /> close their doors and follow the virtual trend. He stated that the trend is now on food and fitness. <br /> He stated that traffic patterns take time to change and people are now utilizing the Armstrong <br /> interchange more often. He stated that the residential market is booming. He stated that Ramsey <br /> is in between two retail nodes and with large stores closing in Riverdale, retailers will most <br /> likely backfill in that location. He noted that the additional homes being built in Ramsey will <br /> help to attract businesses. He stated that the restrictive covenant is no longer in force, which is <br /> good for additional food locations that may want to come. He stated that the additional industrial <br /> and PSD projects will bring in additional traffic and could attract more business. He stated that <br /> they continue to see interest from medical office tenants. He provided an update on marketing. <br /> He noted that he has been pushing Ramsey for quick food users and hard goods and has heard <br /> that Ramsey is on their growth plans. He noted that he has also reached out to gas stations in <br /> attempt to bring a tenant to Armstrong as traffic patterns push more vehicles on that route. He <br /> reviewed the marketing suggestions and next steps. <br /> 4.07: Review Architectural Design for Stonebrook Academy (Project #17-101); Case of <br /> Michael and Kristen Johnson <br /> Community Development Director Gladhill presented the staff report. <br /> Chairperson Steffen asked for details on the materials for the Sunwood side of the building. <br /> Community Development Director Gladhill provided details on the proposed materials. <br /> Member Williams stated that it appears that no landscaping is proposed for the west side. She <br /> asked if the windows are all real. <br /> Community Development Director Gladhill confirmed the lack of landscaping for the west, <br /> noting that it would allow for future development on the adjacent parcel and meets the <br /> requirements of The COR. He stated that it is his understanding that they would be real <br /> windows, although they may be shaded. <br /> Economic Development Authority/June 8, 2017 <br /> Page 7 of 9 <br />