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<br />available for the next regular EDC meeting information regarding who will <br />issue the shares, share storage, recording, etc. <br /> <br />. Case #4: .Status Of Promotional. Brochure: <br /> <br />COmmission noted Council's award of the bid to Advertising and Promotion <br />Services for the printing of the brochure. <br /> <br />Cqse #5: Inm.rmg1:,iQn: _~tteL~om ~1l'{LMACI Regardin-9J>r~rty. ~axes <br />Anc;LRespQos.e From MACI_: <br /> <br />Commission noted letter from Chairman Greenberg and City Staff to MACI <br />regarding property taxes and the response from Mark Anderson of MAC!. <br /> <br />cas~Infqrmat..iQnL1\no~.unt~ ~nomic Deve1Q~t. Partnership: <br /> <br />COmmission noted receiving information regarding Anoka County Economic <br />Developnent Partnership and their meeting scheduled for May 10 at Federal <br />Cartridge. <br /> <br />. <br /> <br />Case lli Discussioo...Of-Kovar Building On Hwy;-. no.: <br /> <br />Commissioner Cox stated that there is a very solid business that would like to <br />locate in the Kovar building but the market valuation of the building is <br />$504,000 and tax payable is over $21,000/year with no viable current operation <br />in the building. '!he building would re::.Iuire over $100,000 in renovation to <br />accomodate the new business. Coon Rapids and Fridley have offered this <br />particular business 8-1/2% interest new building money to locate in their <br />communities7 Ramsey should offer some benefit to locate here. Commissioner <br />Cox suggested that this Commission recommend that Council, at their Board of <br />Review continuation scheduled for May 13, reduce the tax base on that Kovar <br />building because it is not marketable and saleable at what it is currently <br />assessed. '!he potential incoming business would employee in the area of 60 <br />persons and would not re::.Iuire sewer and water 7 the buyer is aware of the sewer <br />and water status for that area. <br /> <br />Motion by Commissioner Miller and seconed by Commissioner Wagner to recommend <br />that City Council, at their Board of Review continuation meeting scheduled for <br />May 13, reduce the tax base valuation on the Kovar building. <br /> <br />Motion carried. Voting Yes: Chairman Greenberg, Commissioners Miller, <br />Muller, Wagner and Cox. Voting No: None. Abstain: Conunissioner Hardin. <br />Absent: Commissioners Vevea and Fults. <br /> <br />COMMISSI.QN~UT <br /> <br />. <br /> <br />Commissioner Cox stated that he is hereby subnitting formal verbal resignation <br />from the Economic Developnent Commission effective inmediately. Commissioner <br />Cox noted that of all the commissions and committees he has served on, he has <br />found the Economic Developnent Commission to be one of the JOOst enjoyable and <br />effective groups in the City. <br /> <br />Motion by Commissioner Muller and seconded by Commissioner Miller to accept <br />May 8, 1985 <br /> <br />Page 4 of 5 <br />