Agenda - Council - 02/26/2019 - Laserfiche WebLink

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resolution, including the Purchase Agreement, which provides flexibility in the final determination of the site layout, subject to City Attorney approval. Rob Hardy, developer, stated that his nephew convinced him to come to Ramsey. He believes that Ramsey has reached a tipping point commercially, which will interest many retailers to come into the community. Councilmember Riley stated that he heard the qualifications of the developer during the EDA meeting and asked the developer to review those for the Council. Mr. Hardy reviewed his educational background and his experience developing shopping center/strip mall type commercial developments throughout the country. Mayor LeTourneau asked why Ramsey and why now. Mr. Hardy stated that typically, commercial development is rooftop driven and he believes that Ramsey has reached that tipping point. He stated that now that the City is up to 30,000 in population, there will be more interest from certain retailers. He hoped that the development would include a drug store such as CVS and perhaps an auto related retailer, such as Auto Zone or O'Reilly's along with two restaurant users. He noted that his layout is conceptual. He stated that it would be critical to have signage along Highway 10 and noted that he did provide a conceptual drawing to staff that would include the four tenant panels along with a welcome to the City of Ramsey panel and a panel that would say The COR. He noted that the signage would be paid for solely by the tenants, including the two Ramsey panels. Mayor LeTourneau stated that the response is very in line with the vision of the Council, to increase the number of rooftops in order to attract retail development. Councilmember Riley stated that the right -of -reentry was included in the staff presentation but noted that he did not see that element included in the Purchase Agreement. Economic Development Manager Sullivan explained that the Purchase Agreement references development of a right -of -reentry and noted that would be completed before the Purchase Agreement is closed. Councilmember Kuzma referenced the purchase price of $8 per square foot and asked how that fits into the guide for land sales. Economic Development Manager Sullivan replied that price falls within the City' s deal range and noted that the EDA recommends approval of the Purchase Agreement. Councilmember Shryock stated that she is excited that this is moving forward and is looking forward to working with the developer on this project. City Council / February 12, 2019 Page 5 of 8