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The consensus of the Board was for staff to proceed with negotiations contingent on Council <br />approval. <br /> <br />Member Steffen asked how the difference from the approved amount will be financed. <br />Economic Development / TIF Specialist Sullivan replied this property was initially looked at <br />being purchased entirely from funds from the TIF district, and that still could be done. His <br />thought was that they need to allocate these funds within this calendar year. He would like to <br />supplement that, and TIF District No. 2 funds'are more flexible. <br /> <br />Chairperson Riley inquired if the property could be purchased with 100 percent TIF funding and <br />the $150,000 used on another property outside of TIF District No. 2. Economic Development / <br />TIF Specialist Sullivan replied it would belimited to the KIH, B & A Cylinder, or Debee <br />properties, or a property in this area near the Chies and Morrell properties, which was identified <br />as a redevelopment area. To switch the funding outside of this area the application would need <br />to be reentered and the funding could be lost. <br /> <br />Member Kurak asked if the funding can be used for clean up or strictly for purchasing property. <br />Economic Development / TIF Specialist Sullivan replied the funding that was received during <br />the current funding cycle can only be used for acquisition. <br /> <br />Member Strommen noted using the funds for this property seems to make sense, as this is the <br />property that seems to be moving the fastest in negotiations. <br /> <br />Chairperson Riley asked when the funds need to be spent by. Economic Development / TIF <br />Specialist Sullivan replied the funds must be spent or be earmarked for a specific project by the <br />end of this year. <br /> <br />Motion by Member Kurak, seconded by Member Steffen, to recommend to the City Council that <br />the City of Ramsey 2004 CDBG allocation of $150,000 be reallocated to be used on the 14040 <br />Azurite ST NW (Hanson Property). <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members Kurak, Steffen, LeTourneau, and <br />Strommen. Voting No: None. Absent: Members Gromberg and Kiefer. <br /> <br />Case #2: Martin/Gorecki Property Acquisition <br /> <br />Economic Development / TIF Specialist Sullivan reviewed that staff has been given clear <br />direction from the EDA in regards to development and redevelopment in the City of Ramsey. <br />The major area of interest of the Ramsey EDA is the Critical Blight Redevelopment Area. Staff <br />has been directed to negotiate sales development and redevelopment in this area when <br />opportunities present themselves. The EDA's support in this area makes it possible to redevelop <br />more blighted properties at a faster rate. Staff continues to negotiate sales and market the newly <br />acquired properties to developers for quality development. The EDA, in the past, assisted in <br />purchases for blighted properties as documented by the Alloy Recovery acquisition. <br /> <br />Economic Development Authority/August 9, 2004 <br /> Page 3 of 12 <br /> <br /> <br />