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Member Howell aye <br />Member Riley aye <br />Chairperson Cords aye <br />Member Steffen aye <br />Motion carried. <br />4. EDA BUSINESS <br />4.01: Review Development Proposal from Java Properties o rcel 50 <br />Economic Development Manager Sullivan presented the staf <br />Mark Krogh, Java Companies, stated that they currently own the O'Reilly' ,;.erty, which will <br />soon begin construction. He stated that they have been looking at the remainder Of the property <br />since their discussions began on the O'Reilly site. He stated that for good retail development, you <br />need good access and traffic counts. He noted that charter schools are more flexible in location, <br />and it would be a shame to develop anything but retail on this corner. He stated that for the tenants <br />they have discussed on the site plan, thlia wash and grocer want to remain anonymous at this <br />time, but Caribou Coffee would be looking at its coffee cabin drive-thru model for this site. He <br />stated that they have experience with all of the tenants they are in discussion with at this time in <br />other locations. He stated that there is a financial institution and restaurant that are also interested <br />in the space. He stated that the grocer moves slow but would most likely move faster when other <br />tenants announce their presence. He stated that they vision this corner as the new retail hub for <br />Ramsey. <br />Member Riley referenced the prospective tenants an 'asked if those are ideas or solid. <br />Mr. Krogh replied that they have relationship h these tenants but are at the letter of intent phase <br />of deve ent. He stated that the tenants are ready to go, but they still need to work through the <br />City s. He would aim to move forward with phase one in 2022 and perhaps even begin in <br />202 wi w se two, depending on the timing of City approvals and plan development. He stated <br />that if they . get the land under control and develop plans over the winter, they could begin <br />construction i` pring. <br />Member Riley referenced the restaurant site in the northwest site and asked if that is a hot prospect <br />as that has been a goal of the City and EDA. <br />Mr. Krogh stated that there are a few users interested in that pad, a dollar store and quick <br />service/fast casual restaurant. He stated that currently the dollar store would like that location, but <br />the locations are interchangeable for certain pads within the site. <br />Chairperson Cords stated that it sounds like there is a reasonable level of confidence in the <br />prospects at this time. He asked if the developer is involved in the business case for the prospects <br />Economic Development Authority/ October 14, 2021 <br />Page 2 of 7 <br />