Laserfiche WebLink
Economic Development Manager Sullivan presented the staff report. <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 /> Member Stewart asked for clarification on the rating of 29. <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 /> 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 /> 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 /> Member Riley asked if the B-Election would also be the same period of nine years. <br /> Mr. Aarsvold confirmed that the duration would be nine year regardless of whether option A or B <br /> is chosen. <br /> Economic Development Manager Sullivan completed presentation of the staff report. <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 /> Chairperson Wiyninger asked why the business was attracted to Ramsey. <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 />