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<br />Mr. Hart stated as part of the private sector, they are very nimble and geared into getting things <br />done. They could probably be a great source for the City by presenting their idea and the people <br />they have used. RFP's and a presentation could be put together, ensuring it is consistent with the <br />overall global design, and Solomon Group would be happy to step in and contribute. Mr. Hart <br />stated the banks will work out the problem and the development agreement will be redone. <br />Ramsey Town Center is a good project and Ramsey will grow. A proposal could be made to the <br />EDA first and then presented to the Council if this Board recommends it. <br /> <br />Economic Development Coordinator Sullivan indicated Solomon Group could get the process <br />moving with a proposal that would include a range of prices and design that the EDA could <br />consider whether to participate with financially. <br /> <br />Mr. Johnson requested the City address the undeveloped land by putting down some rye grass to <br />keep down the dust this summer. <br /> <br />Community Development Director Trudgeon indicated this will be addressed. He stated he and <br />Mr. Hart have had a lot of discussions about the marketing. The previous entity was to do some <br />things in this regard, but the complications of the ownership have to be sorted out. At some <br />point the City needs to step up in some way, shape or form and assist with this. The EDA as a <br />promoter of economic development and growth plays a role in that, and he is glad to hear it can <br />filter through with this process. Mr. Hunt is right that the private sector is more nimble. In <br />relation to the Revolving Loan Fund, he would recommend it receives serious consideration. <br />Town Center is a segment of their community that they may want to look at serving with some <br />type of financial assistance. This area is hurting and will need jump starts to get it going. He <br />would hope the EDA looks at the possibilities with the Revolving Loan Fund to determine <br />whether this would be a worthy goal. This has been discussed for a long time and something <br />needs to be done. <br /> <br />Chairperson Riley directed staff to provide the Board with a time line and historical reference for <br />what has occurred with Town Center. He indicated he is somewhat aware of what has occurred, <br />but would like specific information regarding how the project got to the current status. <br /> <br />Member Strommen explained some of the issues are that Ramsey Town Center, LLC was having <br />financial difficulties. With Mr. Nedigard's death they need to wait until the estate is settled. The <br />banks are sitting and there are a lot of things the City does not control. She suggested rather than <br />focusing on a sign they should look at the marketing more globally to determine where the City <br />has a role. This could be addressed at a subsequent meeting, and the Board could be provided <br />with an update of the relevant information regarding the history of Town Center. She indicated <br />as proposals come in it would be good to fill in some of the context for the EDA. Council has <br />discussed all of this and now the EDA will take a bigger role. This body still can make a <br />recommendation to reconsider Council decisions, but it should not appear that the decisions are <br />going back and forth. <br /> <br />Economic Development Coordinator Sullivan stated regarding concern that has been expressed <br />in relation to the effect of Ramsey Crossings on Town Center, the area owned by Solomon <br /> <br />Economic Development Authority/March 8,2007 <br />Page 6 of9 <br />