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<br />Economic Development Manager Sullivan presented the staff report. <br /> <br />Chairperson Steffen asked if the salon would be taking more land as Cobblestone will be taking a <br />little less. <br /> <br />Economic Development Manager Sullivan explained that the area around the well will be <br />retained as greenspace buffer. The two businesses are almost splitting the remaining parcel in <br />half. <br /> <br />Member Cords asked if the name change means that the entity is based in Minnesota. <br /> <br />Economic Development Manager Sullivan stated that the new LLC entity is based in Minnesota <br />which is common practice when businesses open in new states. He further explained that it is the <br />same ownership group, which was based out of Wisconsin. <br /> <br />Motion by Member Cords, seconded by Member Burandt, to recommend to City Council to <br />approve the First Amendment to Purchase Agreement for Part of Outlot A, COR Stonebrook <br />Academy, subject to City Attorney approval as to legal form. <br /> <br />Motion carried. Voting Yes: Chairperson Steffen, Members Cords, Burandt, Hardin, and Riley. <br />Voting No: None. Absent: Member Kuzma. <br /> <br />4.02: Consider Purchase of 6336 Highway 10 NW (JAC Auto) (Portions of this case may <br />be closed to the public) <br /> <br />Deputy City Administrator Gladhill presented the staff report. <br /> <br />Member Cords stated that staff mentioned that Anoka County has discussed possible interchange <br />designs that could impact Do All Printing He asked if the City or Anoka County would be <br />responsible for the property acquisition if that land is needed for the Highway 10 project. <br /> <br />Deputy City Administrator Gladhill stated that the hope is that the funding would come from the <br />47M bonding bill being considered by the state legislature. He noted that if there is a gap in <br />funding for the project there would be a continued negotiations. An example is the Armstrong <br />interchange project where the City acquired some parcels and the County acquired some parcels. <br />He noted that if the City purchases the property <br />contribution for the project. <br /> <br />Member Hardin asked if the city would be eligible to be reimbursed for the cost of this parcel if <br />it ends up being part of the Highway 10 project. <br /> <br />Deputy City Administrator Gladhill stated that the City may not see cash back, but if the parcel is <br />used for the highway project, that purchase <br />contribution towards the overall project. <br /> <br />Economic Development Authority/ March 12, 2020 <br />Page 2 of 4 <br /> <br />