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Economic Dev. Mgr./Assistant City Administrator Brama stated that is does not appear that there <br /> are any concerns and confirmed the consensus of the EDA to support this project moving <br /> forward with a preference for Concept C. <br /> 4.02: Maple Investments LLC (dba Sharp & Associates) Purchase Agreements (Portions <br /> of this case may be closed to the public) <br /> Economic Dev. Mgr/Assistant City Administrator Brama presented the staff report. <br /> Councilmember Kuzma asked if there would be exclusivity for the second purchase agreement <br /> or whether that would be open to anyone. <br /> Economic Dev. Mgr./Assistant City Administrator Brama stated that the property would be tied <br /> up similar to any purchase agreement,with the exception being the timing. <br /> Councilmember Kuzma asked if there is additional interest built in for the second purchase <br /> agreement, like an inflation to support the timing. <br /> Dennis Sharp, Sharp and Associates, stated that the proposed separation of the purchase <br /> agreements would help the cost of the project. He noted that they are attempting to lower the <br /> costs as much as possible. He stated that while this is not a good short-term investment for him, <br /> he believes that the long-term return would be beneficial. He stated that he is attempting to <br /> lower the costs on the first building as much as possible and the suggestion was made to split the <br /> purchase agreement into two. He stated that his tenants are small users and there are requests to <br /> build their own buildings. He stated that they have not had a piece of property in Ramsey that <br /> has been available for that type of activity and therefore some of their businesses have ended up <br /> moving to other nearby communities. He stated that this would allow him to have that space <br /> available for additional businesses that want to expand in the future. <br /> Acting Chairperson Riley asked if the proposed timeline for the second building fits within the <br /> timeline for the developer. <br /> Mr. Sharp replied that it is pretty quick but he has had a few interested calls already. He stated <br /> that more than likely the proposed timeline would work. <br /> Member Hardin asked if there is an estimate of the holding costs for the other piece of land. <br /> Economic Dev. Mgr./Assistant City Administrator Brama stated that he would have to look into <br /> that, as staff has not contemplated that in the past. He noted that it is City owned land and <br /> therefore there would not be taxes. <br /> Member Williams asked how much in taxes the City would be giving up in that year delay. <br /> Economic Dev. Mgr./Assistant City Administrator Brama stated that he did not have the figures. <br /> Economic Development Authority/August 10,2017 <br /> Page 5 of 8 <br />