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ECONOMIC DEVELOPMENT AUTHORITY CLOSED SESSION <br /> CITY OF RAMSEY <br /> ANOKA COUNTY <br /> STATE OF MINNESOTA <br /> The Ramsey Economic Development Authority conducted a Closed Session on Thursday, March <br /> 11, 2021, at the Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, Minnesota. <br /> Members Present: Chairperson Jim Steffen <br /> Member Brian Burandt <br /> Member Scott Cords <br /> Member Chelsee Howell <br /> Member Chris Riley <br /> Members Absent: <br /> Also Present: Sean Sullivan, Economic Development Manager <br /> Tim Gladhill, Deputy City Administrator <br /> Brian Pankratz, CBRE <br /> 1. CALL TO ORDER <br /> Chairperson Steffen called the Closed Session of the Economic Development Authority to order <br /> at 7:39 a.m. <br /> 2. EDA BUSINESS <br /> 2.01: Consider Updates to City Pricing Strategy for City Owned Land (Portions of <br /> meeting may be closed to the public) <br /> Economic Development Manager Sullivan noted that the purpose of this case is to consider updates <br /> to the City pricing strategy for City owned land. He provided background on how the policy was <br /> developed related to the sale of City owned land within The COR and reviewed the details of the <br /> policy. He also reviewed the progress that has been made towards selling the City owned land <br /> within The COR. He reviewed the existing sales prices and deal range along with the proposed <br /> changes to the deal range and reflective changes that would occur towards the pricing. <br /> Brian Pankratz, CBRE,reviewed the impacts to the market that occurred over the past year. He <br /> stated that although there was not much activity during 2020, interest has started to come back in <br /> 2021. He noted that he and Economic Development Manager Sullivan reviewed the pricing of <br /> each of the City parcels to determine the adjustments that would be appropriate to the listed price <br /> to fit within the market conditions and recognize the work that could be necessary to develop the <br /> site. <br /> Member Riley asked if people have made the choice not to look in Ramsey in the past based on <br /> the pricing that the parcels had. <br /> Closed Session Meeting/ March 11, 2021 <br /> Page 1 of 4 <br />