Minutes - Economic Development Authority - 02/11/2021

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Mr. Pankratz agreed that traffic patterns and counts will change in the coming year as more people return to work. He stated that within a three-mile radius of Armstrong and Bunker there is a median income of $113,000 and that information would be used to market Parcel 46 within The COR. Economic Development Manager Sullivan commented that he has a great relationship with Mr. Pankratz and believes the partnership to be beneficial to the City. He asked the EDA to support the one-year extension of the contract. Member Cords asked the sense from the business community related to the construction challenges that Highway 10 could bring. Mr. Pankratz stated that there is probably talk about it related to local distribution truck routes, but he is unsure that the larger business community understands the scope of the project through Anoka. He stated that once the Anoka portion of the project, it will help to increase the speed and flow of traffic with the removal of those stoplights. He stated that groups are beginning to see the attraction to Ramsey and its workforce with the access to Highway 10, using the example of Delta ModTech and the recent concept proposal from Oppidan. He stated that he has not yet heard direct concerns related to the Highway 10 construction. He noted that when you figure in the entitlement process, plan development and construction, many businesses would not be opening until the backend of that project. Economic Development Manager Sullivan stated that in the past year staff has met with many businesses to discuss potential impacts from Highway 10. He stated that retail and industrial sectors understand that there is something coming, that it could be painful for a time, but it is necessary and will provide a benefit in the end. He stated that he has not heard many comments from businesses concerned that this would kill their business. He noted that staff is working with an auto part retailer on the site adjacent to Casey's, noting that the business is aware of the project and that has not deterred their desire to come to Ramsey. Member Heineman commented agreed that questions will arise related to the Highway 10 construction and noted that it will be helpful to have data driven facts available to respond with. He stated that while he would agree that gathering additional traffic counts during COVID may not provide accurate numbers, it could help if those numbers show favorably compared to other communities during that time. Motion by Member Riley, seconded by Member Cords, to recommend to City Council to approve the Listing Agreement with CBRE from February 1, 2021 through January 31, 2022 as presented. A roll call vote was performed: Member Riley aye Member Cords aye Member Heineman aye Member Howell aye Acting Chairperson Burandt aye Economic Development Authority/ February 11, 2021 Page 4 of 8