Agenda - Economic Development Authority - 08/12/2021

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Economic Development Manager Sullivan commented that it was not the best time to be a speculative developer with the timing of the pandemic. He noted that Mr. Hardy continues to work with staff to solicit retailers. Chairperson Steffen noted that it has been difficult to fill that corner, even pre -pandemic and therefore to say the same thing should be done across the street would not seem to make sense. He agreed that it could be helpful to have a joint meeting with the Planning Commission to ensure they are on the same page, whether or not the Council is involved. Member Cords asked if this developer had a timeline they would preHe asked if this is a concept or something they really want to move forward on Economic Development Manager Sullivan commented that another iteration would come forward that carves out the retail and believes that the developer would want to enter into a purchase agreement this year with grading and perhaps buildin begin in 2022. He confirmed that he has received sufficient input from the EDA on this topi eaffirmi the vision to include aportion of 11 retail with residential. 4.04: Authorize 2021 Annual Ramsey EDA Business Expo Budget mik Economic Development Manager Sullivi presented the staff report. Member Riley commented that the Council has made it a priority to return to normal as much as possible as fast as it can and therefore, he would love to see this move forward. He asked if they should hurry to do it in October oowait until the normal timeline of April. yamlas . Member Johnson stated that perhaps staff should reach .•ut to the businesses to get that input. She stated that if there is interest it could move forward ; not, it could wait. Economic Development Manag=`: Sullivan c""' ented that the City has a business contact list he could reach out to gauge interest. It was confirmed that could be done through email but noted that there is an advertising deadline that would need to be met in order to support an October event. He believed that it would be important to commit today and if that cannot be done, he would prefer to wait until April. He stated that in2019 the City paid some deposits, one vendor is willing to roll that into 2022, while the other vendor would not. 1 Member MacLennan commented that the cost for a business to participate is low at $50 and many businesses are looking for opportunities to get out there. He believed it would be worth it to hold the event and signal to the community that the businesses are open. He asked if the event were held in October, would it be held again in April as that would seem a quick turnaround. Economic Development Manager Sullivan commented that staff would suggest returning to the regular schedule. He commented on the uniqueness of the pandemic and noted that this would provide two opportunities for businesses to get out in front of residents and other businesses. He stated that typically there is cross marketing that occurs between the businesses as well at the event. Economic Development Authority/ July 8, 2021 Page 9 of 12