Laserfiche WebLink
Economic Development / TIF Specialist SUlliVan inquired if a letter should go out from the EDA <br />to all of the Ramsey banks informing them of this opportunity to be sure they have completed <br />due diligence and have not locked themselves into CMDC. Member Gromberg replied CMDC <br />facilitates small loans and is not a bank, so this would not be a problem. <br /> <br />Motion by Member Gromberg, seconded by Member Steffen, to direct staff to work with T J <br />Associates to erect three 4 x 8 development signs, requesting input from T J Associates on the <br />best solution to utilize signs for development and redevelopment, and to work with EDAM to <br />determine specific language for the signs. <br /> <br />Further Discussion: Economic Development / TIF Specialist Sullivan indicated he would bring a <br />sample of the sign for the EDA to see before it is ordered. He asked if the EDA would like the <br />Ramsey logo on the signs. The consensus of the EDA was to include the Ramsey logo on the <br />signs. <br /> <br />Motion carried. Voting Yes: Chairperson Riley, Members Gromberg, Steffen, Kiefer, <br />LeToumeau, and Steffen. Voting No: None. Absent: Members Kurak and Strommen. <br /> <br />Case #3: Potential Businesses for the Martin Property <br /> <br />Economic Development / TIF Specialist Sullivan reviewed that the EDA has made it clear that <br />they want to be involved in the selection pr6cess to determine what business locates on the <br />Martin Property. The selection process should take into account diversity, tax impacts, job <br />creation, growth potential and other factors. The City periodically receives inquiries about <br />available property and currently there are three businesses interested in this site or one in the <br />general area. He reviewed information with the EDA regarding two precision machine shops <br />and one office/professional building and explained staff is requesting input from the EDA as to <br />what business will be the best fit. <br /> <br />Economic Development / TIF Specialist Sullivan indicated the project that seems to have the <br />greatest positive impacts for the City is the Office/professional building. It will create the highest <br />market value and more importantly, will lead to businesses diversity in the area. The fact that <br />this business will likely lack docks and will have some nice architectural features will greatly <br />enhance the curb appeal of Bunker Lake Boulevard. <br /> <br />Member Gromberg inquired if the office/professional building will meet the TIF requirements <br />for job creation. Economic Development / TIF Specialist Sullivan responded in the affirmative. <br /> <br />Chairperson Riley stated he likes the information that has been compiled for the EDA to review. <br />He asked if these businesses have all just made inquiries. Economic Development / TIF <br />Specialist Sullivan replied he has received letters from all of these businesses and he requested <br />information from all of them. He has not received any formal proposals. The next step will be <br />for him to sit down with the businesses to get toknow them better and get a feel of what they <br />want to do for a project. He indicated one thing that is noteworthy is that the EDA has made a <br />big push to retain Ramsey businesses within the City, and one of the precision machine shops is <br /> <br />Economic Development Authority/October 13, 2004 <br /> Page3 of 5 <br /> <br /> <br />