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Member Schindel arrived at 7:45 a.m. <br />Memb Elvig stated he did not feel it was the City's intent to sell this property at a sig 'scant <br />profit; ra er, it is more important that the area be revitalized. He asked if ACE Soli aste's <br />proposed p hase of the property will bring tax dollars and employment into the Ci <br />Economic Devel men <br />importance of balan <br />its existing businesses; <br />represents an effort by <br />Coordinator Sullivan stated that the EDA has pre <br />the need to seek out new businesses with fostering <br />e stated that ACE is looking to expand in the Cit <br />~ity to further its relationship with ACE. <br />Chairperson Riley stated the A considered other uses for the <br />that ACE does not have a specifi roject for the -site at this time <br />expansion of its existing facility. <br />Economic Development Coordinator Su 'van <br />approximately 12,000 square feet, which o~ <br />quantify jobs for the project, but noted that A <br />property. He felt that any other business would <br />Economic Development Coordinator. Sulliv <br />stated <br />is <br />xs`ly discussed the <br />relationships with <br />the proposed sale <br />operty and weighed the fact <br />but has indicated it will be an <br />tha ACE has committed to a building of <br />e. He added the City was unable to <br />asking for any financial assistance on the <br />ask for financial assistance on this site. <br />market value of a site, assistance amounts. ve been irk <br />sites; under this TIF scenario, the City wo d be looking <br />a commitment for the creation of four jo for this site if <br />typically, based on job creation. and <br />e area of $1,00,000 for these types of <br />a net purchase price of $105,000 and <br />~er business was interested. <br />Member Elvig stated the sale woul also be putting something ack into the City's future tax <br />base. <br />Motion by Member LeTo eau, seconded by Member Kiefer, to ecommend to the City <br />Council the sale of Lot 1, ock 4, Gateway North Industrial Park Plat , to Aee Solid Waste, <br />based on the terms and co ditions of the Purchase Agreement at a stated sa price of $286,000. <br />Motion carried. Vot' g Yes: Chairperson Riley, Members LeTourneau, 'efer, Elvig, and <br />Schindel. Voting N :None. Absent: Members Steffen and Strommen. <br />Mr. Berkopec pressed his appreciation to the EDA for its support ofthe-company business in <br />Ramsey. H added the company feels very fortunate to have a good working relatio ship with <br />the City. <br />Riley stated the City appreciates the fact that ACE has been a good corps <br />Case #2: Recommend Sale of Lot 2, Block 1, Sunfish Lake Business Park Fourth <br />Addition <br />Economic Development Authority/October 18, 2007 <br />Page 3 of 9 <br />-225- <br />