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4. EDA BUSINESS <br />4.01: Consider Execution of Right of Re -Entry Agreement and Refund of Purchase Price <br />(Stories Foundation) <br />Economic Development Manager Sullivan presented the staff report. <br />Motion by Member Riley, seconded by Member Johnson, to go into closed session. <br />Motion carried. Voting Yes: Acting Chairperson Stewart, Me -rs Riley, Johnson, Howell, <br />Lindahl, and MacLennan. Voting No: None. Absent: Cha'n Wiyninger. <br />Acting Chairperson Stewart stated that the EDA wijike going into closed session to discuss <br />offers/counteroffers for the purchase of real estate Statute 13D.05, Subdivision 3c(3), <br />the legal description Outlot C, COR Stonebrook�my. <br />Recess and Reconvene <br />The EDA recessed to closed session at 7:39 a.m. <br />The EDA reconvened to open session at 7:50 a.m. <br />Acting Chairperson Stewa tated that g the closed session the EDA discussed the value of <br />lands, offers, counterof -cided on commendation for alrtial refund. <br />411 4% <br />Motion by Member Johnson, seconded by Member MacLennan, to recommend to City Council to <br />exercise Right of Re -Entry Agreement and request deed of conveyance from Stories Foundation <br />to the City of Ramsey and to refund $49,295.75 to Stories Foundation. <br />4 V <br />Motion carried. Voting Yes: Acting chairper wart, Members Johnson, MacLennan, <br />Howell, Lindahl, and Riley. Voting No:None. Absent: Chairperson Wiyninger. <br />4.02: Consider Recommendation to I4lement Lodging Tax and Membership with Twin <br />Cities Gately Visitors Bureau <br />Economic Development a ullivan presented the staff report. <br />Al Stauffacher, President o win Cities Gateway, stated that the owner of Hilton Home2Suites <br />approached the TCG Board Chair with interest in this program and that is how these discussions <br />began. He provided information on the Twin Cities Gateway, its purpose and intent, strategic <br />goals and objectives, two staff members, organization history, and member cities and lodging <br />properties within each city. He provided details on the TCG Board, which is composed of <br />representatives from each community and meets quarterly. He provided additional details on the <br />lodging tax, how that is used as well as details on the TCG budget. He stated that 75 percent of <br />their budget is put back into marketing for the member cities. He provided additional details on <br />the TCG city grants and regional grants as well as the 2024 marketing work plan. <br />Economic Development Authority/ August 8, 2024 <br />Page 2 of 7 <br />