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enter into full negotiations with this property owner and to acquire this blighted 'property for <br />redevelopment. <br /> <br />Member Elvig inquired about the square foot cost of land in the industrial park. Economic <br />Development/TIF Specialist Sullivan replied the cost ranges form $1.50 to $2.00 per square foot, <br />based on the size. The price for smaller parcels is closer to $2.00 per square foot. This parcel is <br />about 80,000 to 90,000 square feet. <br /> <br />Member Elvig commented due to the prices in the area he Cannot see this parcel being worth <br />much more than $300,000. Economic Development/TIF Specialist Sullivan replied he would be <br />pleased if the City can purchase the property for $315,400. The building will need to come <br />down and the lot will need to be cleaned up. The clean up of the lot will be at acost of <br />approximately $30,000. He indicated he envisions that the negotiations could get difficult on <br />this parcel due to the rationale on the price difference. <br /> <br />Member Elvig asked if the property has been determined as blighted. Economic <br />Development/TIF Specialist Sullivan replied he does not thing there would be a problem having <br />the parcel determined blighted. <br /> <br />Member Elvig commented there could be a strategy in putting the property in position as <br />blighted and then informing the property owner they need to use the property or the City will <br />play hardball. Economic Development/TIF Specialist Sullivan replied staff can discuss that with <br />City Attorney Goodrich. He suggested the process start by entering into meaningful <br />negotiations. <br /> <br />Motion by Member Elvig, seconded by Member LeTourneau, to recommend to City Council that' <br />the City enter into meaningful negotiations with Saint Paul Terminals to acquire the property at <br />14050 Basalt ST. NW. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members Elvig, LeTourneau and Strommen. <br />Voting No: None. Absent: Members Gromberg, Kiefer, and Steffen. <br /> <br />Case #8: Staff Update <br /> <br />The EDA reviewed the staff update. <br /> <br />Associate ?lanner Wald reviewed the statu~ of Town Center, the NAIOP study, and the 2005 <br />budget. She noted the 2004 Minnesota Report includes a full piece about the City of Ramsey. <br />She congratulated members Riley, Kiefer and Steffen for their reappointments to the EDA. She <br />reported Chairperson Riley will be assisting with the Business Connection, and two staff <br />members from Community First Bank will be the focus of the business spotlight. <br /> <br />Member Strommen commented Ramsey is noted in the Mpls/St. Paul Magazine as a community <br />that is turning around and trendy. <br /> <br />Economic Development Authority/December 8, 2004 <br /> Page 9 of 10 <br /> <br /> <br />