Agenda - Council - 08/23/2022 - Laserfiche WebLink

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assistance based on the soft market and high building costs at this time. He stated that if the business assistance application is submitted and that need for assistance is demonstrated, it would be packaged into a TIF agreement. Member Riley thanked Ms. Allegra for her family's continued investment into Ramsey. He commented that this is exciting. He stated that while Ramsey would love to see a restaurant, this would also be a great opportunity. Ms. Allegra commented that it was a clear finding in their study that they do not recommend to have a restaurant in the hotel, but they will offer a full hot breakfast. She stated that the hotel will create a draw for more restaurants and an economic pull. She stated that once they are situated, they will actively market to bring restaurants to Ramsey as well. Member Johnson recalled that a previous meeting alled this a boutique hotel. Ms. Allegra commented that the previous hotel concept by Cobblestone was considered a boutique, but that project did not move forward. She stated that based on their demand study they will be using a major flag and are working with Hilton and Marriot. Motion by Member Johnson, seconded by Member MacLennan, to recommend to City Council to enter into the Purchase Agreement with The Schiebout Family Limited Partnership, LLLP as presented, subject to City Attorney review. A roll call vote was performed: i Member Stewart aye Member MacLennan aye Member Johnson aye Chairperson Olson aye Member Riley aye Member Howell aye Motion carried. 116 6. ADJOURNMENT .pr Motion by Member MacLe 4an, seconded by Member Johnson, to adjourn the meeting. A roll call vote was performed: Member Stewart aye Member MacLennan aye Member Johnson aye Chairperson Olson aye Member Riley aye Economic Development Authority/ August 11, 2022 Page 2 of 3