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DISCUSSION STATUS <br />From a long term perspective, it appears the Council and EDA do not want to use a traditional broker and do not <br />want to use a professional services firm. It does appear that strong consensus exists, generally, to work with a <br />developer(s). <br />RE the EDA specifically: <br />• It appears the EDA is concerned about working with a developer that is not invested in Ramsey/ The <br />COR (in other words, the EDA doesn't want to work with a developer that doesn't have any skin in the <br />game). The EDA wants a developer to be financially committed to Ramsey, at some level. <br />• The EDA also concerned about demand. The EDA is unsure if/ what level of interest the City will receive <br />from developers —due to the fact that The COR has been available for 10 years now and has been <br />marketed by multiple parties with no success in attracting a new major developer (outside of PSD). <br />WHAT IS THE NEXT STEP? <br />In order to enter into a new long term contract/ relationship, staff believes two major items need to be <br />addressed. <br />A. SCOPE: we need to decide what the scope of "working with a developer(s)" means. <br />B. TIMING: we need to decide when to engage a developer(s)? <br />Page 2 of 5 <br />