Agenda - Economic Development Authority - 07/13/2017

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Economic Development Authority (EDA) Meeting Date: 07/13/2017 Submitted For: Patrick Brama, Administrative Services By: Patrick Brama, Administrative Services Title: Strategy for Marketing and Selling City Owned Land Purpose/Background: PURPOSE Continue discussion regarding the City's strategy for selling city -owned land and marketing The COR. 4. 1. CASE TRACKING Please see previous cases and minutes for detailed background information, previously reviewed detailed alternatives, and various market feedback logs. Or, please contact staff directly --staff can provide supplemental information via email, or can meet in person. • EDA October 2016 • EDA December 2016 • Council January 2017 • EDA February 2017 • EDA March 2017 • EDA April 2017 • EDA July 2017 • Council July 2017 Notification: NA Observations/Alternatives: Please see attached staff discussion guide. Funding Source: NA Recommendation: Staff recommends the city take the following steps (listed below). In the future (for example, 6-9 months from now), when significant progress has been made on these items, staff would suggest revisiting this discussion. Staff is concerned that moving forward with a long term agreement/ partnership now (considering the outstanding items below), may not be an effective/ efficient approach. (1) Allow COR Vision Process to Unfold -- Please see attached staff discussion guide for details. Having a clear vision is important to prospect developers considering Ramsey and it is also important for the city when evaluating development proposals. (2) Allow Market to Adjust to Major Projects -- Please see attached staff discussion guide for details. The long list of major development projects currently taking place in Ramsey may have an effect on the market (i.e. future demand). We won't know the effect until said projects make more progress.