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Chairperson Cords asked if all the businesses would be run out of this location. <br />Mr. Serra replied that two of his businesses are home -based. He stated that the general contracting <br />company that he owns is kept to a minimum, with 12 customers perhaps per year. He provided <br />background information on how his general contracting business led to him starting the window <br />and door business. <br />Chairperson Cords commented that it sounds like a good opportunity and a good fit for Ramsey. <br />Member Johnson commented that she knows the applicant's wife and asked if she should abstain <br />from voting. She confirmed that it is just a personal relationship. <br />Member Riley commented that because it is just a personal relationship, he did not believe she <br />would need to recuse herself. <br />Member Steffen stated that this will be a great project for Highway 10, and he will be excited to <br />never again call this property the old bookstore. <br />Member Riley asked if there have been negotiations on the property price. <br />Economic Development Manager Sullivan stated that the hardest part was finding a property that <br />would be suitable for the use. He stated that the offer provided by the applicant was fair and <br />therefore he did not push back. He stated that the asking price was $4 per square foot, while the <br />offer was around $3 per square foot in addition to what this development would bring to the site. <br />He noted that this site would have great visibility from Highway 10. <br />Mr. Serra commented that staff had been great reaching out to him and following up. He noted <br />that the main reason for the length of time was that he was trying to find a site that had a structure <br />that would work for him. He noted that because he was unable to do that and Economic <br />Development Manager Sullivan continued to reach out to him, he decided to pursue this site and <br />build. <br />Member MacLennan asked if there is a timeline for construction. <br />Mr. Serra replied that he would like to begin as soon as possible. He stated that they are working <br />on the blueprints and Weathershield will do the inside build out. <br />Motion by Member MacLennan, seconded by Member Steffen, to recommend that the City <br />Council approve the Purchase Agreement for Lot 4, Block 1, Riverside West, subject to City <br />Attorney review. <br />Motion carried. Voting Yes: Chairperson Cords, Members MacLennan, Steffen, Howell, <br />Johnson, Olson, and Riley. Voting No: None. Absent: None. <br />Economic Development Authority/ September 9, 2021 <br />Page 2 of 3 <br />