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Education/Potential Partnerships Department of Employment and Economic Development (DEED) · Central Minnesota Development Company (CMDC) · ChamberofCommerce · Ramsey Rotary · Ramsey Lions Club · Anoka County Partners Motion by Member Steffen, seconded by Member Gromberg, to adopt the 2006 work plan as amended above. Motion carded. Voting Yes: Chairperson Riley, Members Steffen, Gromberg, Kiefer, LeTourneau, and Strommen. Voting No: None. Absent: Member Elvig. Case #3: Business Prospects Economic DevelopmentfFIF Specialist Sullivan stated staff has identified two prospects to develop in the City of Ramsey. The first candidate is a machine shop that would like to develop the former Amie Cox Property. The second prospect is a rigging company that would like to develop the parcel south of Bury and Carlson. Both projects will create high paying jobs, substantial growth potential and some industry diversity to Ramsey. He explained the intent of this discussion is to get input and insight from the EDA as to whether these businesses would be good selections. He advised these negotiations are preliminary and there are discussions regarding roads and street extensions relating to the parcel south of Bury and Carlson. The Board discussed account diversity, tax impacts, job creation, and growth potential in relation to the selection of the businesses. Economic Development/TIF Specialist Sullivan advised the businesses meet the City's requirements in relation to these factors. Economic DevelopmentJTIF Specialist Sullivan advised one other thing to take into consideration is whether to wait to develop the Arnie Cox Property with other properties that may redevelop in the area as a plan, rather than to piecemeal the redevelopment as things occur. The consensus of the Board was that the City should not continue to own the property while waiting for possible redevelopment to occur. Member Kiefer stressed the need to target a diverse type of businesses. He commented the City has a lot of machine shop type businesses, and many of these businesses are moving to China. The City may be setting itself up as a depressed area if there is not enough diversification in its businesses. Economic Development/TIF Specialist Sullivan indicated diversification is factored in with business selections. He noted in the past year Wildlife Research and Harber Industries located within the City. Member Gromberg noted the buildings being constructed in the City are versatile and will accommodate multiple uses. Economic Development Authority/January 11, 2006 Page 4 of 6 4