Minutes - Economic Development Authority - 01/09/2025

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Further discussion: Member Riley noted that two of the voting members were not present at the meeting and perhaps it would make sense to delay action on this item to the next meeting. Member Lindahl withdrew the motion. Motion by Chairperson Wiyninger, seconded by Member Lindahl, to table the December 12, 2024, minutes to the next meeting. A roll call vote was performed: Member Riley aye Member Lindahl aye Chairperson Wiyninger aye Member Olson aye Motion carried. 4. EDA BUSINESS 4.01: Consider Approval of Amended and Restated Right of Re -Entry Agreement: Ramsey Properties, LLC Economic Development Manager Sullivan presented the staff report. Chairperson Wiyninger invited the applicant to address the EDA. Emily Allegra, from Ramsey Properties LLC, introduced herself and her project manager. Garret Noonan, project manager, provided a progress update on the construction of the building on each floor. He stated that there was an amended permit for the swimming pool and bathroom that was approved, and work has begun on that amenity. He stated that the goal is to be completed by March. He stated that he joined the project at the start of November to help with completion. Ms. Allegra stated that she has a management team on board and they are ready to get the hotel moving once the building is completed and they receive the Certificate of Occupancy. She stated that they are excited for this to be operational in the community. Member Riley stated that he wanted to ensure that this length of time to obtain a Certificate of Occupancy (June 30, 2025) would be enough time to avoid having to review this again, but that seems to have been answered by the applicant. Motion by Member Lindahl, seconded by Member Olson, to recommend to City Council to approve the Amended and Restated Right of Re -Entry Agreement as presented, subject to City Attorney review. A roll call vote was performed: Economic Development Authority/ January 9, 2025 Page 2 of 5