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Sullivan indicated if there were a business interested in locating a large project of approximately 20 acres the City would not have the inventory available for the project at this time. Economic Development Consultant Mulrooney advised socioeconomic factors come into play when planning out a community and making it work. A Top 100 Manager at 3M once discussed with him how important it is for a community to have jobs available for its citizens close to where the people live if you really want a community to work. If people leave the community at 5:00 a.m. and get back at 7:00 p.m. there is not a lot of time for family and children, and you end up with a community that is not likely one you want to live in for the long run. Economic Development Consultant Mulrooney indicated there was a study done not long ago where 80% of the people that live in Anoka County not only don't work in the community, they travel outside of the county to work. To the extent the City can create more job opportunities in Ramsey they will have a much better community to live in for the long run. Case#3: Staff Update The EDA reviewed the Staff Update. Economic Development/TIF Specialist Sullivan reviewed the Community Revitalization Projects. Acting Chairperson Steffen inquired about the strategy for marketing the Amoco site. Economic Development/TIF Specialist Sullivan replied a gentleman contacted him and expressed interest in the site for office use. There will likely be interest by others as well once it is clear that the building is down and the site has been cleared. It is his intention to bring numerous proposals to the EDA and have this body recommend which project to pursue. This is a site that was spearheaded by the EDA and they should have a controlling interest on the site. Acting Chairperson Steffen questioned if another gas station could be located on the site. Economic Development/TIF Specialist Sullivan replied there was a stipulation with the City's purchase of the property that another gas station could not be located on the site. There cannot be a full basement on the site due to the previous use, which lends itself to an office use. Acting Chairperson Steffen inquired if the sign on the site would include For Sale. Economic Development/TIF Specialist Sullivan replied there could be information included on the sign to direct development inquiries to contact the City. This has not been the procedure in the past. Generally interested parties contact him when they see the redevelopment sign on the site. MEMBER INPUT None. ADJO URN Motion by Member LeToumeau, seconded by Member Strommen, to adjourn the meeting. Motion carried. Voting Yes: Acting Chairperson Steffen, Members LeToumeau, Strommen and Kiefer. Voting No: None. Absent: Chairperson Riley, Members Elvig and Gromberg. Economic Development Authority/November 16,2005 Page 4 of 5