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Motion by Member Lindahl, seconded by Member Johnnson, to recommend to City Council to <br />approve Purchase Agreement, Right of Re -Entry Agreement, LAHA (250k) and Sale of City Land <br />to Elevate Hope House for Mixed -Use Project, with the contingency that the first floor and one <br />unit will be constructed within 12 months of the closing, and the additional two units would be <br />constructed within 24 months of the closing, subject to City Attorney review. <br />Further discussion: Member Stewart commented that the City is provided with limited resources, <br />and LAHA is brand new. She commented that the City Council put a lothought into how those <br />funds could be given to residents to reinvest in property. She commented that as an EDA member, <br />she agrees that this is a good project and will support the motion ay, but as a Councilmember, <br />she is unsure if she will support the request when it goes to the 'Cocil. <br />Member Riley echoed the comments of Member Stewart <br />Member Lindahl commented that this is a great <br />includes affordable housing units. <br />she is excitedlht, which also <br />Chairperson Wiyninger stated that he believes in the mis nd the project, but cannot support <br />the project as he has hesitation about lockin up the land with ore information about financing <br />and the feasibility of moving forward. <br />A roll call vote was performed: <br />Member Hills <br />Member Johnson <br />Member Lindahl <br />Member Riley <br />Member Stewart <br />Chairperson Wiyninger <br />Motrried. <br />Commissioner Johnson left the Meeting at 8:40 <br />4.03: Receive 2026 Busin s Expo Recap and Select 2027 Venue, Date, and Approve Budget <br />Economic Developme anager Sullivan presented the staff report. <br />Chairperson Wiyninger commented that it was a fantastic event with positive feedback from the <br />vendors. He stated that perhaps the bingo card is an option for business sponsorship, with vendors <br />contributing $20 to be included on the card, as that could help to close the funding gap. He also <br />suggested having a large red star or other identifier to help shoppers identify Ramsey business <br />vendors. <br />Economic Development Authority/ June 11, 2026 <br />Page 8 of 11 <br />