Agenda - Council - 07/14/2026 - Laserfiche WebLink

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