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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 on Parcel 50 <br /> Economic Development Manager Sullivan presented the staff report. <br /> Mark Krogh, Java Companies, stated that they currently own the O'Reilly's property, 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, the car 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 and asked if those are ideas or solid. <br /> Mr. Krogh replied that they have relationships with these tenants but are at the letter of intent phase <br /> of development. He stated that the tenants are ready to go, but they still need to work through the <br /> City process. He would aim to move forward with phase one in 2022 and perhaps even begin in <br /> 2022 with phase two, depending on the timing of City approvals and plan development. He stated <br /> that if they could get the land under control and develop plans over the winter, they could begin <br /> construction in the spring. <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 />