Minutes - Economic Development Authority - 07/16/2020

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Brian Pankratz, CBRE, provided a brief update on the market and COVID impacts. He stated that housing and industrial continue to be active while retail and office/business tend to be bigger questions because of the impact of COVID. Motion by Chairperson Steffen, seconded by Member Cords, to recommend to City Council to approve the Listing Agreement with CBRE from August 1, 2020 through January 31, 2021. A roll call vote was performed: Member Heineman aye Member Cords aye Member Burandt aye Member Riley aye Member Kuzma aye Chairperson Steffen aye Motion carried. 5. MEMBER / STAFF UPDATE Economic Development Manager Sullivan stated that planning continues to move forward for Business Appreciation Day and online registration has begun with 40 people signed up. He stated that staff has been working with local partners to respond to a RFI for a business looking for 20+ acres. He thanked the community partners, including Connexus Energy, GRE and DEED, that assisted in answering the RFI. He noted that staff will wait to hear if Ramsey moves to the next level. He stated that 10 businesses have chosen to take advantage of the ad program in the next Ramsey Resident. He provided a brief update on the timelines for Cobblestone and Gigi’s Salon. He indicated that the closing for Cobblestone would occur by September according the terms of the purchase agreement, whereas Gigi’s could occur closer to the end of the year. 6. ADJOURNMENT Motion by Chairperson Steffen, seconded by Member Riley, to adjourn the meeting. A roll call vote was performed: Member Heineman aye Member Cords aye Member Burandt aye Member Riley aye Member Kuzma aye Chairperson Steffen aye Motion carried. The regular meeting of the Economic Development Authority adjourned at 9:25 a.m. Economic Development Authority/ July 16, 2020 Page 10 of 11