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funds. <br />Notification: <br />N/A at this time. However, the Redevelopment Plan/business subsidy process will require public hearings and <br />proper notifications. <br />Time Frame/Observations/Alternatives: <br />Staff is asking the EDA to approve Resolution #26-109 Initiating Process for Establishment of a Redevelopment <br />Plan and a commitment to complete an HRA loan up to 2M to ARAA. <br />Funding Source: <br />ARAA - 10K Escrow to inititiate Redevelopment Plan Process <br />Ramsey HRA Dollars up to 2.3M (Loan, Admin, Legal) <br />Recommendation: <br />Adopt Resolution #26-109 Initiating Process for Establishment of a Redevelopment Plan and a <br />commitment to complete an HRA loan up to 2M to ARAA. <br />Outcome/Action: <br />Motion to Adopt Resolution #26-109 Initiating Process for Establishment of a Redevelopment Plan and a <br />commitment to complete an HRA loan up to 2M to ARAA <br />Site Location Map <br />ACTION - EDA - Resolution #26-109 <br />Redevelopment Project Area Map <br />Redevelopment Plan Schedule <br />Proposed Financing Structure - CorTrust <br />Preliminary Construction Costs <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 05/06/2026 01:56 PM <br />Form Started By: Sean Sullivan Started On: 04/28/2026 05:26 PM <br />Final Approval Date: 05/06/2026 <br />