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ECONOMIC DEVELOPMENT AUTHORITY <br />CITY OF RAMSEY <br /> ANOKA COUNTY <br /> STATE OF MINNESOTA <br /> <br />The City of Ramsey Economic Development Authority (EDA) conducted a special meeting on <br />April 27, 1999, at the Anoka-Hennepin Technical College, Room 115A, 1355 Highway #10 NW, <br />Anoka, MN 55303. <br /> <br />Members Present: <br /> <br />David Kent, Chairperson <br />Lydia Scheiber, Vice Chair <br />Glen Hardin <br />Chris Riley <br />Kenneth Wagner <br /> <br />Members Absent: Gerald Zimmerman <br /> <br />Also Present: <br /> <br />James E. Norman, City Administrator <br />Mike Mulrooney, Economic Development Consultant <br /> <br />CALL TO ORDER <br /> <br />Chairperson Kent called the Special Economic Development Authority meeting to order at 7:32 <br />a.m. <br /> <br />APPROVAL OF AGENDA <br /> <br />Motion by Mr. Wagner and seconded by Mr. Hardin to approve the agenda as amended. <br /> <br />Motion carried. Voting Yes: Chairperson Kent, Mr. Wagner, Mr. Hardin, Mr. Riley and <br />Ms. Scheiber. Voting No: None. Absent: Mr. Zimmerman. <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY BUSINESS <br /> <br />Case #1: Parabody/LifeFitness Incentive Package <br /> <br />Economic Development Consultant Mike Mulrooney presented the EDA with his letter dated <br />April 26, 1999, regarding a request for assistance from Parabody/LifeFitness (see attached <br />Exhibit A). <br /> <br />The Economic Development Authority proceeded to review and discuss the request. <br /> <br />Motion by Mr. Hardin and seconded by Mr. Riley to recommend City Council consider a request <br />from Parabody/LifeFitness for an additional $392,544 tax increment contingent upon <br />Parabody/LifeFitness agreement to add 200 jobs within the next four years at a minimum pay <br />scale of $14.00 per hour. Also, Council is recommended to consider an additional $276,544 be <br />provided through TIF on a "pay as you go" basis subject to Council approval. <br /> <br />Economic Development Authority/April 27, 1999 <br /> Page 1 of 2 <br /> <br /> <br />