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<br />Member Howell stated that it would have been nice to know the cost to residents for the Hilton <br />project, even though the A-Election choice was made in the past. <br /> <br />Member Stewart asked and received confirmation that the $1,100,000 in assistance would not have <br />impact to residents and therefore would lean towards that option. <br /> <br />Chairperson Wiyninger thanked Mr. Strubberg for his time this morning. <br /> <br />Motion by Member Johnson, seconded by Member Lindahl, to recommend to City Council for <br />$1,100,000 (0% interest) in TIF Pay-GO Assistance and requirement for the creation of 30 jobs <br />with a minimum wage of $18.50/hr or higher by Medart, Inc.; subject to TIF Attorney review. <br /> <br />Further discussion: Member Riley commented that when TIF is considered you must consider <br />what the City is getting versus what it is giving. He stated that this would provide development <br />now with a good building and good jobs in return for the loss of tax revenue for nine years. He <br />stated that this would accelerate development and therefore would find this decision appropriate <br />from the EDA. Member Stewart agreed that it would be a benefit for the business to come to <br />Ramsey and hoped that this location and its benefit to the employees would be considered by <br />Medart in addition to the costs. Chairperson Wiyninger commented that the role of the EDA is to <br />promote and attract business and stated that he would have a hard time getting to the $1,500,000 <br />but would support the $1,100,000. <br /> <br />Motion carried. Voting Yes: Chairperson Wiyninger, Members Johnson, Lindahl, Howell, <br />MacLennan, Riley, and Stewart. Voting No: None. Absent: None. <br /> <br />Mr. Strubberg thanked the EDA and appreciated the approach of its members and the concept <br />that the group would not want to impact the taxpayers of Ramsey. <br /> <br />4.02: Consider Approval of Purchase Agreement Lot 2, Block 1, COR FOUR; (Portions <br />may be closed to the public) <br /> <br />Economic Development Manager Sullivan presented the staff report. <br /> <br />Tim Eaton, Take 5, introduced himself and recognized that this is not a well-known concept in this <br />market. He stated that the Take 5 business is the third largest oil change company in the country <br />and identified how the business sets itself apart. He also presented a concept plan that they <br />developed that would include this business with room for a 3,000 square foot restaurant/drive-thru <br />concept. <br /> <br />Economic Development Manager Sullivan noted the location of the building on the eastern side of <br />the lot which would leave room for another user. <br /> <br />Mr. Eaton stated that in conversations with staff there was discussion about the building location, <br />whether the business should be on the east or west side of the lot. He noted that Take 5 is a skinnier <br />concept which is why this location was chosen, but noted that they could swap those locations if <br />desired. <br />Economic Development Authority/ February 8, 2024 <br />Page 4 of 9 <br /> <br />