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Motion carried. Voting Yes: Chairperson Steffen, Members Kanaventi, Hardin, and Burandt. <br /> Voting No: None. Abstained: Members Kuzma and Riley. Absent:None. <br /> 4. EDA BUSINESS <br /> 4.01: Consider Purchase Agreement for Lots 1, 2, and 3, Block 1, COR TWO; Case of <br /> RGH Ramsey LLC (Portions may be closed to the public) <br /> Chairperson Steffen noted that the developer is his uncle and he made the introduction to staff, <br /> therefore he will abstain from the review and decision for this case. <br /> Member Burandt took over as Acting Chairperson. <br /> Economic Development Manager Sullivan presented the staff report and the recommendation to <br /> approve the Term Sheet to be incorporated into the Purchase Agreement, which provides <br /> flexibility in the final determination of the site layout subject to City Attorney approval. <br /> Rob Hardy provided background information on himself and his experience in commercial <br /> development, noting that he has over 40 years of experience in shopping center development. <br /> He stated that he would like to get interest from a drug store tenant (Walgreens or CVS), with a <br /> possible quick service restaurant/drive-thru, and perhaps an auto related retailer. He stated that <br /> his plan B would include talking to a Trader Joe's or Aldi. He stated that any of his users would <br /> be proposed for 2020 as most of these retailers look ahead on at least a 12-month cycle. He <br /> believed that the City is on track to meet the goals of The COR and this retail center. He stated <br /> that putting additional retail in that area will increase the use of the existing retail in that area and <br /> help prevent leakage of consumers going outside the community to get those retail services. <br /> Member Riley stated that the City has had interest from Aldi and asked if the developer has <br /> experience with Aldi or whether that is being considered a warm lead because of the interest. <br /> Mr. Hardy stated that he does have experience with Aldi and is currently working with Aldi on <br /> the project in North Dakota. He stated that typically Aldi likes to locate near a Walmart, and <br /> therefore he was surprised that Aldi had interest in this site. He stated that he does have contacts <br /> with the regional team for Aldi out of Minneapolis. He stated that he would like to run this site <br /> by Trader Joe's, as many retailers want to be near a Trader Joe's but noted that his first choice <br /> will be Walgreens or CVS. <br /> Member Riley stated that these pads have been ready for many years and it is nice to see a <br /> developer that is interested and has real plans and would like to take the land off the City's <br /> hands. <br /> Member Hardin referenced the extensions and asked if there are any benchmarks that the <br /> developer would need to meet during that time. <br /> Economic Development Manager Sullivan stated that the language is similar to other purchase <br /> agreements that the City has. He explained that under a typical city purchase agreement the <br /> developer can request two extensions, each two months in length. He provided additional details <br /> Economic Development Authority/January 10,2019 <br /> Page 2 of 6 <br />