Agenda - Economic Development Authority - 12/08/2022

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Economic Development Manager Sullivan stated that within the packet he provided development updates on various projects within Ramsey and welcomed any questions. Member Johnson asked for input on the building being constructed in the Coborn's parking lot. Economic Development Manager Sullivan replied that the building is being done by Northstar Marketplace, is speculative and has a drive-thru unit that would lend itself to some type of food service. He stated that there are not any tenants signed on as of yet and noted that he will provide an update once tenants sign on. He noted that Papa Murphy's and Anyti Fitness will be opening in the building constructed on the other side of Armstrong Blvd whi ,,r,rreate more energy in that area. Chairperson Olson stated that he has been getting questions" a gr0 4Itore and asked for an update. Economic Development Manager Sullivan stated t the City, has entered / with a convenience grocer and although there were s us, hC' IUWPaLes that will come forward to the EDA at an upcoming meeting. Member Wiyninger referenced the LOI° ion and asked if �� ° f those projects are at risk. rall Economic Development Manager Sullivari� r �1 brief a da � he status of the different projects listed within that section. ,,, ] p L P J %,,, ///////O/// V r it g g g Member MacLennan ref �� e s orts do notm t original ARAA was thinking of 0 bringing in a partner per restaurant. ��He asked if there was any progress on those potential partnershij Economic De [pp in nt M � �� at staff has met with the architects and at this time they �� spo J one wit other buildings, which could still be a restaurant and/or o �dics us � t noteo the association would like to submit a site plan in December whic Id lead to dis t the � ,•Aig Commission in January. He stated that tied to that wou'd b y� Ferret Street West strong infrastructure study which should be completed v by the end ember. H�ticipated that the road project could occur in 2023 and noted that the Council w,��` 11 need to, scuss the different funding sources available for that project. He noted that ARA ' 11 pla ng on the dome being a 2023 project as well. Member MacLennan N d if the City would have to purchase property for a stormwater pond. Economic Development Manager Sullivan noted that there are two options for a stormwater pond. He stated that one option would use a larger pond that would require the building to be removed while the second would use a smaller pond and in that case the building would not need to be removed. He noted that property owners in that area are supportive of the project and would be willing to work with the City and sell property to the City that may be necessary to move forward with that project. Economic Development Authority/November 10, 2022 Page 3 of 4