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ECONOMIC DEVELOPMENT AUTHORITY <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />The City of Ramsey Economic Development Authority (EDA) conducted a regular meeting on <br />Thursday, August 11, 2022, at the Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, <br />Minnesota. <br />Members Present: <br />Members Absent: <br />Also Present: <br />Chairperson Michael Olson <br />Member Chelsee Howell (remote) <br />Member Rachal Johnson <br />Member William MacLennan <br />Member Chris Riley <br />Member Shanna Stewart <br />Member Scott Wiyning <br />Sean Sullivan conomic Development Manager <br />1. CALL TO ORDER <br />Chairperson Olson called the Economic Development Authority meeting to order at 7:30 a.m. <br />4.01: Consider Purchase Agreement for Outlot A, Gigi Addition; Case of Schiebout Family <br />Limited Partnership (Portions may be closed to the public) <br />Econ s • evelopme t Manager Sullivan presented the staff report. <br />Emily Allegro, applicant, provided a*pdate on the work that they have done in the last three <br />months including the market demand study, market research and economic demand research. She <br />stated that they are waiting on a final report, but the data has been encouraging and therefore they <br />want to continue to pursue the project. She noted that the project costs are not yet known but they <br />believe an 80-unit hotel model could fit on the site. <br />Chairperson Olson commeed that sounds encouraging. He asked if the hotel would have <br />conference facilities. <br />Ms. Allegro commented that based on the size of the lot it would be challenging to have larger <br />conference rooms. She stated that the models are just prototypes from one of the flags they have <br />been working with. She noted that they are still considering an extended stay hotel. <br />Economic Development Manager Sullivan identified the next steps, should a business assistance <br />application be submitted. He anticipated that financial analysis would demonstrate a need for <br />Economic Development Authority/ August 11, 2022 <br />Page 1 of 3 <br />