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be laid out. He said this building will have a one-and-a-half story look and will look much better <br />than the daycare and the other buildings in the area. He noted that he thinks the bank would fit <br />perfectly in this location. He shared that the bank has spent around $80,000 to get this in front of <br />the Council as they want to be here in Ramsey. <br /> <br />Councilmember Olson shared that he sees a bank as an anchor for a city and he thinks CorTrust <br />Bank having a prime location in the City is appropriate. He asked what kind of traffic is caused by <br />a bank. He noted that most people do a majority of their banking on their phones. <br /> <br />Mr. Suchy explained that the traffic at a certain bank depends on its location. He said some banks <br />have pretty steady traffic and others do not. He stated he could not use any other locations as a <br />reference as all locations are different. He noted that the most similar location would be the Anoka <br />location, and he could get some traffic numbers and report those back to the Council. <br /> <br />Councilmember Riley stated that this is a local business that very clearly wants to be in Ramsey <br />and has brought this forward again showing their determination. He added that they have made <br />many changes to their original plan including moving an exit and having a plan for the excess land <br />that will be held. He shared that he supported this in the past and will continue to support this now. <br /> <br />Councilmember Peters added that he believes this would be a great addition to Ramsey, especially <br />with the apartments and other housing developments in the area within walking distance. <br /> <br />Councilmember Buscher asked what CorTrust thinks they will be able to bring to the City. <br /> <br />Mr. Suchy said that one of the things that they can bring to the table is that they are very involved <br />in the communities that they serve. He stated that CorTrust has been around for almost 100 years <br />so they can also bring stability as a family-owned bank. <br /> <br />Councilmember Stewart asked what the checks and balances will be on the retail space to ensure <br />it matches the aesthetics of the bank and the hotel. <br /> <br />Economic Development Manager Sullivan explained that they have strict development standards <br />in the COR that ensure that the buildings in the area meet the architectural standards of the COR. <br />He stated that the retail space will have to be used by a business that fits within the COR <br />framework. <br /> <br />Mayor Heineman shared that he agrees with Councilmember Specht on this as the COR is the <br />prime location within the City and once it has been developed, it is pigeonholed with what they <br />have developed. He added that he has not heard from residents that they want a bank in the COR; <br />however, he has heard that they want restaurants, retail spaces, and shopping. He asked if the <br />Council will have any say in what goes into the retail space. <br /> <br />Economic Development Manager Sullivan said that they would not be able to regulate what kind <br />of business would go in this space as any business that is permitted within the COR zoning district <br />could go in this space. He explained that they could put a restrictive deed that could disallow <br />City Council Work Session / January 14, 2025 <br />Page 2 of 7 <br /> <br />