Agenda - Economic Development Authority - 05/11/2006

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Community Revitalization Projects 6030 Bunker Lake Boulevard NW: The sale of Zero-Zone is complete and negotiations have resumed. Staffmet with ownership of the company on April 27 and discussed the acquisition of the adjacent property for future expansion. Zero-Zone is currently getting an appraisal for the property and an offer for purchase is expected within a month. It is expected that the property will be sold outright for expansion of the company at a later date. 14280 Sunfish Lake Blvd NW: Riverside Manufacturing - Site plan and Business Subsidy was approved on April 25th, 2006. Project financing is still being completed and a development agreement will be executed after the financials have been reviewed. Construction should commence this Summer and be complete by years end. The City has dedicated a portion of this site for part of a comprehensive drainage plan. The drainage study is complete and City Staff worked with the developer to design a building that works well with the new drainage system. 5175 142ad Avenue NW: Staff received an inquiry about developing the site for a multi-tenant office building. More information to come... 14050 Basalt Street: Demolition commenced on the building on May 4th, 2006. The majority of the building has been demolished and the next phase of site clean-up will start once the building is completely removed. It is anticipated that the site should be ready for development at the end of the Summer. Staffwill continue to work with Ace Solid Waste to develop the site. 14230 Basalt St NV/: David Perkins Contracting continues to operate their business on the site acquired by the City. Construction is well underway o the new site and the previous date of August seems to have been a bit conservative. Look for this business to move in sometime prior to July. Miscellaneous 14165 Ramse¥ Blvd NW: The B & A Cylinder property was acquired from Fisher Enterprises on January 31st. The City took possession of the property on February 27th and the building will be demolished in the near furore. A study will be done to determine how much of the land will be needed for road purposes and the remaining parcel will be marketed for development. Loudi Deleeation: The business trip by the Loudi Delegation has led to increased discussions for Chinese companies locating in the City of Ramsey. The City of Loudi has identified Ramsey as a possible location for opening a Trade office. More information will be provided as to the details of this potential project as they become available. Ramsey Crossings: At the last EDA meeting properties were identified for acquisition for redevelopment purposes. Ramsey Crossings was identified as an area in need of redevelopment. At the February 14 City Council meeting a resolution was adopted to authorize the use of eminent domain where appropriate for all the parcels in that area. Staff has prepared a study which looks at the need for redevelopment in this area. Copies of this report will be distributed via a PDF file upon request by EDA members. The owners are being served for condemnation proceedings during the Week of April 3fa. Willingness to sell properties has ranged from yery receptive to severely against. Nothing new to report. Additional .Parcels Identified for.Acquisition: At 'the :last, EDA meeting many parcels ,were identified as redevelopment candidates. Four of the parcels identified were also listed in the City CIP. Those 4 parcels include: KIH, Sparkle Pool, Eugene Brown, and Anna Parks. At the 17