Agenda - Economic Development Authority - 09/07/2006

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Economic Development Coordinator Sullivan informed the Board that staff has received 36 entries for the Business Appreciation Day event, making the event completely filled. There are currently 32 hole sponsors at this time. He reviewed that at the May meeting it was discussed that a Power Point presentation should be created for the event. Mr. Sullivan presented the 2006 Ramsey Business Appreciation Day power point presentation. The Board provided Economic Development Coordinator Sullivan with suggested changes to the Power Point presentation. Consensus of the EDA was that the Power Point presentation covering industrial and commercial development over the past few years should run throughout the dinner event, and that a smaller presentation highlighting PSD, LLC (James Deal) should be included with the presentation ofthe award. Economic Development Coordinator Sullivan indicated there is not a theme set for the event this year. He asked whether a Ramsey EDA sign should be posted at the golfing event. . Consensus of the EDA was to post a Ramsey EDA sign at the golfing event. Motion by Member Strommen, seconded by Member Schindel, to recommend Member Steffen present the Business of the Year award to PSC, LLC. / James Deal, and to walk through a brief power point presentation. Motion carried. Voting Yes: Chairperson Riley, Members Strommen, Schindel, Kiefer, and Steffen. Voting No: None. Absent: Members Elvig and LeTourneau. Case #2: Consider Sale of 6030 Bunker Lake Blvd NW Economic Development Coordinator Sullivan reviewed that staff has been in contact with the management group for Zero-Zone Refrigeration. The company has expressed interest in purchasing the property adjacent to its existing facility on Bunker Lake Boulevard. Zero-Zone Refrigeration has submitted an offer of $440,000 to purchase the 4.58 acres adjacent to their current business for future expansion. The offer works out to be $2.20 per S.F. Industrial land in Ramsey has been selling between $2.00 and $2.75 per square foot. The parcel in question was . subdivided to provide expansion room for the then Systematic Refrigeration. Although Zero- Zone is not looking to expand immediately they are looking to secure their future in Ramsey. The land is somewhat limited by the fact that it does not have access to Bunker Lake Boulevard. There are also access issues from the south on a cross easement that devalue the property to some extent. As presumed, the offer is at the lower end of the spectrum but it is fair considering the restrictions on the property . . ' Economic Development Consultant Mulrooney advised this parcel was platted with plans for Zero-Zone Refrigeration to expand onto this property; the company is now able to purchase the parcel. -2- Economic Development Authority / July 11, 2006 Page 2 of 5