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4.01: Review Letter of Intent for Purchase of Property (PID #34-32-25-13-0005) 6710 <br />Highway 10 NW Ramsey, MN (Portions may be closed to the public) <br />Member Lambrecht arrived at 7:32 a.m. <br />City Administrator Ulrich presented the staff report. <br />Dave Steinbring, Sterling Trophy, stated that they are a family owned and operated business that <br />has been providing awards and engravings for over 19 years. He stated that they have evolved <br />from just youth associations to major corporations and events. He reviewed some of the <br />equipment the business has and noted that they have been in the location in Anoka for 15 years <br />and have simply outgrown that space. He stated that they have been pursuing projects for the <br />past 3.5 years in attempt to find a new location and would love to be a part of Ramsey's growth. <br />Chairperson Steffen asked why the applicant is attracted to this site. <br />Mr. Steinbring replied that they like the visibility that this site has. He noted that accessibility is <br />also important and noted that he is not concerned with future access being provided by Riverdale <br />Drive. <br />Chairperson Steffen asked for details on the timeline of the applicant. <br />Mr. Steinbring replied that they would like to be in the building by fall/winter of this year <br />because they have significantly outgrown their current location. He stated that currently they <br />have five employees and within the next ten years he would hope to have 10 employees. <br />Chairperson Steffen asked and received confirmation that the business, parking and stormwater <br />facilities would only use half of the site. He asked if there are plans for the remainder of the site. <br />Mr. Steinbring stated that he would like to create as much square footage as possible. He noted <br />that there are other complimentary businesses, such as apparel, that could fit well with his <br />business. <br />Member Riley stated that this would be a great addition to the community and he would be <br />interested in the redevelopment of this site, removing it from City ownership. <br />Member LeTourneau stated that he is also excited about the business coming to the community. <br />He stated that the inventory for available lots for development in the community has been <br />studied and programed. He noted that the offer price falls within the deal range and will assist in <br />turning over properties ready for development and putting them back on the tax roll. <br />Chairperson Steffen received confirmation that the property has been vacant for over five years <br />and has been on the active market for five years. <br />Member Burandt agreed that this is a great business and an offer within the deal range for a <br />property that has remained vacant. <br />Economic Development Authority/June 14, 2018 <br />Page 2 of 10 <br />