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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, October 13, 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 <br />Member Rachal Johnson <br />Member William MacLennan <br />Member Chris Riley <br />Member Sharma Stewart <br />Member Scott Wiyninger <br />Sean Sullivan, Economic Development Manager <br />4.02: Consider Cancella ion of Purchase Agreement for Parcel 50; Case of Java <br />lit <br />Companies, LLC <br />f <br />Economic Development Manager Sullivan presented the staff report. <br />Member Howell asked if the City would need to have to setup a purchase agreement in the same <br />way if this developer were to come back, or whether the notice to proceed language could be <br />removed so that if the developer did not move forward again the City would not lose out on the <br />earnest money after holding land for a significant amount of time. <br />Economic Development Manager Sullivan replied that every purchase agreement can be <br />negotiated with terms the EDA and Council agree to. He stated that those agreements are setup in <br />that way to allow the due diligence, tenant and site plan approval work. He commented that in <br />this case the developer is aware of who the tenants would be and therefore could be an ask if they <br />were to come back for a future purchase agreement. He noted that the one thing that would be <br />problematic is that typically the development review process occurs during that six months as well. <br />He noted that the money is therefore allowed to be refundable during that time in the case that <br />perhaps the City does not approve the development plans. He noted that time period could be <br />shortened. He believed that this developer would come back at a later time as they are interested <br />in the site but noted that the site will go back on the market and someone else may be interested <br />before that time. <br />Member Stewart stated that land prices will increase and therefore she would recommend that the <br />developer lose out on this price if they were to come back. <br />Economic Development Authority/ October 13, 2022 <br />Page 1 of 3 <br />