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<br />Economic Development Manager Sullivan stated that there is not language related to an extension <br />and he would not recommend including those options. He noted that this lease is necessary <br />because the applicant is not able to lease the space in Ramsey Elementary due to COVID-19, and <br />therefore that opportunity may present itself in the future. <br /> <br />Member Heineman asked if there is information showing the savings the City would receive by <br />not having to complete the upkeep, noting that perhaps that would make up the difference in the <br />below market rate rent rate. <br /> <br />Economic Development Manager Sullivan stated that when a RALF property is rented that revenue <br />is then put back into the RALF account for upkeep of the properties purchased with RALF funds. <br />He stated that having an available revenue/balance in that account ensures that the City can fund <br />those upkeep expenses. <br /> <br />Chairperson Steffen stated that if this were not a church or nonprofit, he would perhaps look at it <br />differently. He stated that he would support this request. <br /> <br />Motion by Member Kuzma, seconded by Member Cords, to recommend to City Council to <br />approve the Lease as presented, subject to City Attorney review. <br /> <br />Motion carried. Voting Yes: Chairperson Steffen, Members Kuzma, Cords, Heineman, and <br />Riley. Voting No: None. Absent: Member Burandt. <br /> <br />4.04: Consider Purchase Agreement for Outlot B, COR Stone Brook Academy; Case of <br />Stories Foundation (Portions of the meeting may be closed to the public) <br /> <br />Manager Heineman stated that he will be abstaining from this discussion because he has a personal <br />connection to the organization. <br /> <br />Economic Development Manager Sullivan presented the staff report. Sullivan highlighted the fact <br />that this was a mixed-use project, the offer was within the City deal range and that it would involve <br />the sale of a challenging remnant parcel. <br /> <br />Mark Thurston, representing the applicant, provided background information on the creation of <br />Stories Foundation which aims to raise awareness on human trafficking and sex trafficking. He <br />stated that their desire has been to have a brick and mortar building with a café with a small store <br />component and apartments. <br /> <br />Chairperson Steffen asked if the project is being funded through donations and fundraising. <br /> <br />Mr. Thurston stated that it would be a combination of financing and donations/fundraising. He <br />stated that the land would be paid for in cash. He provided details on the potential leasing of the <br />apartment components. <br /> <br />Economic Development Authority/ October 8, 2020 <br />Page 4 of 7 <br /> <br />