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Economic Development Manager Sullivan stated that there is an area along the north lot <br /> boundary that is identified in the greenway corridor. He noted that the greenway corridor would <br /> be addressed during the site plan process by the Planning Commission. <br /> Chairperson Steffen asked if there is information on a financial ask. <br /> Economic Development Manager Sullivan stated that based it is approximately a $15,000,000 <br /> project and that there was a request for $1,500,000 in TIF financing in the business assistance <br /> application. He noted that analysis would be done to determine the need for assistance, potential <br /> TIF,to address the "But For"test and to review the rate of return. <br /> Member Riley stated that this is not City owned land and therefore a different request than the <br /> previous and would not require a city purchase agreement. <br /> Economic Development Manager Sullivan confirmed that the action requested today would be to <br /> ask the City Council to call for a public hearing to consider creating a TIF district and awarding a <br /> business subsidy. <br /> Chairperson Steffen asked for additional information on what Delta ModTech does. <br /> Mr. Shiebout provided additional information on what the business does and how it has evolved. <br /> Motion by Member Burandt, seconded by Member Hardin, to recommend to City Council to call <br /> for a public hearing for the modification to the Development Program for Development District <br /> No. 1 and the proposed establishment of TIF District No. 17: Delta ModTech. <br /> Motion carried. Voting Yes: Chairperson Steffen, Members Burandt, Hardin, Berg, Kanaventi, <br /> Kuzma, and Riley. Voting No: None. Absent: None. <br /> 4.04: Consider Purchase Agreement with Knoll Properties, LLC (Portions may be closed <br /> to the public) <br /> Economic Development Manager Sullivan presented the staff report. He recommended approval <br /> of the Purchase Agreement as presented. <br /> Mr. Dave Knoll provided background information on previous expansions, noting that the <br /> 100,000 square foot expansion was expected to last five to seven years but only lasted one year. <br /> He stated that they would like to build this new facility across the street from their existing <br /> business for efficiency and to provide the business with the space it needs to keep up with the <br /> demand of its customers. <br /> Member Riley stated that this is exactly what the City would want to see on this land and it <br /> would help an existing Ramsey business expand. <br /> Economic Development Authority/April 11, 2019 <br /> Page 5 of 12 <br />