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Member Jeffrey requested a review of the conversation with the developer to come back to the EDA. Chairperson Riley expressed concern with the statement included in the staff report that the developer has made it clear this project cannot go forward without financial incentives from the City of Ramsey. Economic Development/TIF Specialist Sullivan replied the developer approached staff and asked if the City would be able to assist them with this project. The developer was informed to negotiate the deal and come back to the City to discuss the assistance. The developer has two purchase agreements that are contingent on City participation, and has made it clear that City participation is necessary. It has been the EDA's policy to create job growth, and this TIF assistance is specifically tied to the job growth from the project. Economic Development Consultant Mulrooney explained this is a different piece of property with very limited development potential because of the way it was platted. The adjoining parcel would be landlocked unless it were to be developed by Command Corporation. The City is playing a good role in terms of matching up those two parcels and making it a developable piece. It will likely serve the City well to have this project proceed, filling what would otherwise likely be vacant parcels for some time to come. Motion by Member Strommen, seconded by Member Jeffrey, to recommend to the City Council that the City of Ramsey participate financially in the Minks Custom Home project, and that staff express the concerns to the developer regarding the company's ability to expand based on the price and availability of building materials, and that the EDA be informed about the discussion with the developer in a staff update. Motion carried. Voting Yes: Chairperson Riley, Members Strommen, Jeffrey, Kiefer, and Steffen. Voting No: None. Absent: Members Elvig, Gromberg, and LeTourneau. Case #3: Amoco De~nolition Economic Development/TIF Specialist Sullivan reviewed that at the July 13, 2005 EDA meeting discussion involving the acquisition and demolition of the Amoco station on Hwy 47 took place. The suggestion by the EDA was to look at the look at the interest of a public demolition of the building after acquisition. The intention of the public demolition would serve as a promotion of the "Community Revitalization Program" as well as marketing for the development of city owned land. Staff has informally polled members at the council and staff levels regarding the interest in having a public demolition of the Amoco station. The response has been overwhelmingly in favor of having some sort of public demolition. He noted a public demolition brings many logistical questions to the forefront. Member Jeffrey stated there should be consideration regarding likely questions from the public about what will be done with the site and plans for the walking bridge over Highway 47. Economic Development/TIF Specialist Sullivan indicated he has envisioned an office condo project for this site. Member Jeffrey noted there was discussion at one time about leaving the easement in place in case it is needed for Highway 47. He noted this site is a nice connector to the park. Economic Development Authority/September 7, 2005 Page 4 of 6