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<br />Motion by Member Lindahl,seconded by Member Stewart,to approve the April 9,2026, minutes <br />as presented. <br /> <br />A roll call vote was performed: <br /> <br />Member Bauer aye <br />Member Johnsonaye <br />Member Hills aye <br />Member Lindahl aye <br />Member Riley aye <br />Member Stewart aye <br />Chairperson Wiyninger aye <br /> <br />Motion carried. <br /> <br />4. EDA BUSINESS <br /> <br />4.01: Consider Recommendation for Tax Increment Financing Assistance for Trident <br />Development <br /> <br />Economic Development Manager Sullivan presented the staff report. <br />Roger Fink, Senior Vice President of Trident Development, introduced himself and provided <br />background information on the company. He stated that Trident focuses on multi-family housing, <br />both market-rate apartmentsand senior living, and provided information on the communities that <br />they have created and continue to own and operate. He stated that their management is handled <br />by LifeSpark, which brings the highest level of care to residents of these communities. He stated <br />that they use Lyon Contracting for construction, noting other complexes within The COR that have <br />also been constructed by Lyon. He commented that Trident has been watching the senior market <br />in the metro for many years, and Ramsey has always been of interest to them. He believed that <br />the timing was right to add more senior housing to this market. He stated that they are considering <br />a continuum of care campus, which includes independent senior living, assisted living, and <br />memory care. He stated that a Preliminary Plat request will come forward to clean up the lot <br />boundaries and create a parcel for the TIF District. He provided additional information on why <br />this number of units is proposed, noting that the property would be staffed 24/7, with a commercial <br />kitchen and dining room, as well as other amenities. He stated that the independent senior living <br />building would be adjacent to the assisted/memory care facility, and the details for that project, <br />including the number of units, are still being finalized. He commented that of the projects they <br />have completed, half of them have received some type of financial assistance through TIF, many <br />of which have involved Ehlers underwriting. He provided information on the proposed timeline <br />for the project, hoping to break ground this fall. He thanked the EDA for considering this <br />application. <br /> <br />Chairperson Wiyninger asked if an economic impact study has been done or whether there is an <br />anticipated amount of revenue that would be brought into the community. <br />Economic Development Authority/ May 14, 2026 <br />Page 2 of 9 <br /> <br />