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Mr. Pankratz commented that everyone agrees that Highway 10 will be a benefit once completed <br /> but noted that no one can anticipate how that construction will impact businesses. He stated that <br /> the population growth through recent residential developments help to bring interest from retailers. <br /> Economic Development Manager Sullivan commented that the intersection of Armstrong and <br /> Highway 10 will see increased traffic during construction and therefore it will place a lot of eyes <br /> on that corridor. <br /> Mr. Pankratz commented that office uses have high vacancy, industrial remains a hot market and <br /> retail is starting to make a comeback. He noted that residential development continues to be hot <br /> across the market. <br /> Motion by Member MacLennan, seconded by Member Howell, to recommend to City Council to <br /> approve the Listing Agreement with CBRE from February 2, 2022 through January 31, 2023. <br /> A roll call vote was performed: <br /> Member Howell aye <br /> Member Heineman aye <br /> Member Steffen aye <br /> Member Johnson aye <br /> Member MacLennan aye <br /> Acting Chairperson Olson aye <br /> Motion carried. <br /> 4.02: Receive 2021 Business Retention and Expansion Presentation <br /> Economic Development Manager Sullivan presented the staff report. <br /> Member Heineman asked if transportation is shown as a weakness. <br /> Economic Development Manager Sullivan confirmed that the item referred to Highway 10 <br /> transportation issues. <br /> Member Heineman referenced the weakness shown as too many homes/rentals and asked for <br /> clarification. <br /> Economic Development Manager Sullivan replied that item reflects a comment from businesses <br /> stating that there are too many apartments. He stated that perhaps those are businesses that have <br /> been here longer that are also Ramsey residents that would like to see less growth and less <br /> apartments. <br /> Member Heineman asked if that is a specific type of business. He recognized that many residents <br /> would prefer to see less apartments, but apartments to equal more people which could equate to <br /> more customers for a business. <br /> Economic Development Authority/January 13, 2022 <br /> Page 3 of 6 <br />