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Mr. Peterson stated that in 2024, they invested in improving everything in their current location in <br />Ramsey to make the location a better place to work for their employees. <br />Economic Development Manager Sullivan identified future considerations and actions for this <br />project, as well as key terms of the TIF Agreement. <br />Motion by Member Lindahl, seconded by Member Johnson, to recommend that the City Council <br />approve a TIF Agreement/Business Subsidy including $360,000 (6% interest) TIF Pay Go Note <br />and the requirement for the creation of 55 jobs with a minimum wage of $21.00/hour or higher by <br />Zero Zone <br />Further discussion: Chairperson Wiyninger stated that he loves to see businesses expand in <br />Ramsey and continue to invest in the community. He noted that this would be a great use of the <br />property and would bring opportunity to the community. <br />A roll call vote was performed: <br />Member Johnson aye <br />Member Karpen aye <br />Member Lindahl aye <br />Chairperson Wiyninger aye <br />Member Riley aye <br />Member Stewart aye <br />Motion carried. <br />4.02: Consider Recommendation for Approval of 2026 EDA Budget <br />Economic Development Manager Sullivan presented the staff report. <br />Commissioner Karpen asked for details on how the EDA fund is established. <br />Economic Development Manager Sullivan stated that the largest share of the revenue is received <br />through the property tax levy and highlighted other forms of revenue received. <br />Commissioner Lindahl asked for information related to the changes in the administrative services <br />line item in 2023, 2024, and 2025. <br />Economic Development Manager Sullivan was unsure but thought it could be a coding issue in <br />the budget. He stated that he could provide follow-up information from the Finance Director in <br />an email to EDA. <br />Chairperson Wiyninger appreciated that the budget remains relatively flat even in this time of <br />inflation. <br />Economic Development Authority/ August 14, 2025 <br />Page 3 of 5 <br />