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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 /> 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 /> Chairperson Wiyninger thanked Mr. Strubberg for his time this morning. <br /> Motion by Member Johnson, seconded by Member Lindahl, to recommend to City Council for <br /> $11100,000 (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 /> 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 /> Motion carried. Voting Yes: Chairperson Wiyninger, Members Johnson, Lindahl, Howell, <br /> MacLennan, Riley, and Stewart. Voting No: None. Absent: None. <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 /> 4.02: Consider Approval of Purchase Agreement Lot 2, Block 1, COR FOUR; (Portions <br /> may be closed to the public) <br /> Economic Development Manager Sullivan presented the staff report. <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 /> 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 /> 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 />