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Case #2: Chicago Mixed-Use Tour On August 23, 2001, the City of Ramsey took 42 persons to Chicago in order to tour mixed-use developments located near commuter rail stations. Participants of the tour included City Councilmembers, Planning, Park, Charter, and EDA Commissioners, City consultants, City staff, Ramsey business leaders, and interested Ramsey citizens. The group visited four municipalities in the Chicago area; Arlington Heights, Deerfield, Highland Park and Lincolnshire. In each community, the group met with city staff and conducted a walking tour of the mixed-use developments. Some of the things learned from the trip include the need for public investment through the years of TIF Funds to make a mixed-use project viable and other is that it takes strong political will to successfully plan and implement a mixed-use project. The Commission briefly discussed the Chicago tour and Commissioners that attended described their experiences. Case #3: Sunfish Commons Revolving Loan Application During the EDA meeting of August 20, 2001, the EDA recommended that funds be transferred to the Economic Development Revolving Loan Fund in order to allow an application to be made by Sunfish Commons Partnership. Sunfish Commons is a 1,440 square foot multi-tenant, commercial space constructed at the intersection of Highway #10 and Sunfish Lake Boulevard. The project encountered additional expenses that were not anticipated when the demolition of the former McKay Auto required asbestos removal. The applicant had been sent an application form, however, staff has yet to receive the application form. The Committee agreed to table the item until next month's meeting in order to review the application prior to consideration of the matter. The EDA asked staff to supply background of what fund will be utilized for the financing of the Revolving Loan and what security position the City would take in the loan process. Case #4: Altron North Property During the May 15, 2001, Council meeting, the City Council authorized staff to contact the property owner of Altron in order to determine the availability of the vacant parcel north of Altron to Sunwood Drive. Staff had been in contact with the owner of the vacant property (Allen C. Phillips), it had been in the process of acquiring comparable market value for the property. Staff had determined that the comparable market value of the approximate nine acres would come to approximately $1,106,300. The Commission agreed that the vacant site provides an attractive entrance to AEC Energy Park if a quality industrial development project were built on the site. Motion by Riley seconded by Scheiber, recommended City Council authorize staff to being direct negotiations with Altron for sale of the vacant property north of Altron for industrial development purposes. Motion carded. Voting Yes: Chairperson Wagner, Members Riley, Scheiber, Anderson, Blaha, and Zimmerman. Voting No: None. Absent: LeTourneau Economic Development Authority/September 17, 2001 Page 2 of 3