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Cash flow within the TIF District to determine if purchase could be covered in the <br /> short-tenn. <br /> , Potential length of lease with Tom Sauter. <br /> , Spreadsheet demonstrating cost per property, including purchase price and clean up. <br /> <br />Additional discussion ensued concerning the timeframe for a quick take and when a decision <br />needed to be reached to ensure possession was completed prior to the June 2003 deadline. <br /> <br />Motion by Member LeTourneau, seconded by Member 8teffen, to table the issue until further <br />information was provided on the above stated items. <br /> <br />Motion carried. Voting Yes: Vice Chairperson Kiefer, Members LeTourneau, Steffen, <br />Anderson, Gromberg. Voting No: None. Absent: Chairperson Riley and Member Zimmerman. <br /> <br />Case #3: Staff Update <br /> <br />The EDA reviewed the staff update. Associate Planner Wald gave a summary of the Direct <br />Enclosures sale, explaining that this was for information only. <br /> <br />Member LeToumeau asked what had happened to Direct Enclosures. <br /> <br />Associate Planner Wald indicated they went out of business. She noted that since the property is <br />in a TIF district the City Council would have to approve the TIF agreement under the new <br />buyer's name. <br /> <br />Vice Chairperson Kiefer questioned who held the agreement in the interim. <br /> <br />Member Gromberg stated the bank has it until sale is made. <br /> <br />Vice Chairperson Kiefer explained that the City Council had tabled the U.S. Highway #10 <br />Moratorium until February or March of 2003. <br /> <br />Vice Chairperson Kiefer asked if there was any update on Panther Precision. <br /> <br />Associate Planner Wald explained that they were moving ahead with building plans. <br /> <br />MEMBER INPUT <br /> <br />Vice Chairperson Kiefer asked the EDA what role they felt they should play in reviewing the <br />impact of the new Downtown Center on existing businesses to ensure they aren't hurt by new <br />construction. <br /> <br />Member Gromberg questioned how this is any different than Panther Precision conflicting with <br />Command Tool, which already exists in Ramsey. He indicated the key is looking at all areas and <br />finding a balance. <br /> <br />Economic Development Authority / November 18, 2002 <br /> Page 4 of 5 <br /> <br /> <br />