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<br /> <br />Economic Development Manager Sullivan presented the staff report. <br /> <br />Jason Aarsvold, Ehlers, provided details on the analysis completed by Ehlers. He explained that <br />the requested $1,500,000 in TIF cannot be reached without the A-Election and provided additional <br />details relating to Fiscal Disparities. He also explained the difference between the A-Election and <br />B-Election as well as the potential impact, or no impact, to taxpayers. He then provided details on <br />the additional analysis that was completed to ensure that the requested assistance would not unduly <br />enrich the project. He commented that the assistance requested does meet the but-for test. <br /> <br />Member Stewart asked for clarification on the rating of 29. <br /> <br />Economic Development Manager Sullivan commented that the scoring system for the application <br />with the City is not tied to the Ehlers analysis. He explained that the higher the score, the better <br />the project and a score of 29 is high on the moderate range. <br /> <br />Member Stewart commented that A - Election would have an impact on the Ramsey taxpayers and <br />asked if there would be an impact to someone as a result of B - Election. <br /> <br />Mr. Aarsvold replied that the premise is that the project would not be in Ramsey but-for the <br />assistance, therefore without the TIF assistance the City would not capture any of those taxes. He <br />stated that if the project is built in Ramsey, there would be benefit to the City. B-Election does <br />not have the impact on the taxpayer that A – Election would. <br /> <br />Member Riley asked if the B-Election would also be the same period of nine years. <br /> <br />Mr. Aarsvold confirmed that the duration would be nine year regardless of whether option A or B <br />is chosen. <br /> <br />Economic Development Manager Sullivan completed presentation of the staff report. <br /> <br />Dave Strubberg, Medart, introduced himself stating that the company is based in Arnold, Missouri <br />with additional distribution facilities, one of which is in Anoka. He stated that the business is <br />family owned and has been so since 1912, providing details on the culture of the business and its <br />employees. He stated that Medart is currently reviewing two options as mentioned by staff. He <br />stated that if $1,500,000 in TIF were offered by Ramsey, the cost of the project in Ramsey would <br />still be $500,000 higher than the other location option. He noted that they are still refining <br />construction costs in Wright County and will be meeting next week to decide which location they <br />would move forward on. He was very appreciative that Ramsey is considering the request for <br />assistance. <br /> <br />Chairperson Wiyninger asked why the business was attracted to Ramsey. <br /> <br />Mr. Strubberg replied that proximity is a consideration for the staff currently working in Anoka as <br />it would provide a similar commute for those employees. He stated that the industrial park also <br />has quality buildings, which is important for our company and personnel. <br />Economic Development Authority/ February 8, 2024 <br />Page 2 of 9 <br /> <br />