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<br />Motion carried. Voting Yes: Chairperson Steffen, Members Kanaventi, Hardin, and Burandt. <br />Voting No: None. Abstained: Members Kuzma and Riley. Absent: None. <br /> <br />4. EDA BUSINESS <br /> <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 /> <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 /> <br />Member Burandt took over as Acting Chairperson. <br /> <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 /> <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 />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 /> <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 /> <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 /> noted that his first choice <br />will be Walgreens or CVS. <br /> <br />Member Riley stated that these pads have been ready for many years and it is nice to see a <br />hands. <br /> <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 /> <br />