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<br />FINANCE COMMITTEE <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br /> <br />The Finance Committee conducted a regular meeting on Tuesday, September 11, 2007, at the <br />Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, Minnesota. <br /> <br />Members Present: <br /> <br />Chairperson Sarah Strommen <br />Councilmember David Elvig <br />Councilmember Matt Look <br /> <br />Also Present: <br /> <br />Finance Officer Diana Lund <br /> <br />CALL TO ORDER <br /> <br />Chairperson Strommen called the regular meeting of the Finance Committee to order at 5:35 <br />p.m. <br /> <br />CITIZEN INPUT <br /> <br />There was none. <br /> <br />APPROVE AGENDA <br /> <br />Motion by Councilmember Elvig, seconded by Councilmember Look, to approve the agenda as <br />submitted. <br /> <br />Motion carried. Voting Yes: Chairperson Strommen, Councilmembers Elvig and Look. Voting <br />No: None. <br /> <br />COMMITTEE BUSINESS <br /> <br />Case #1: <br /> <br />Adopt Resolution Approving Proposed EDA Levy <br /> <br />Finance Officer Lund stated at the EDA's September 6, 2007 meeting, the EDA authorized a <br />levy of $393,375. In keeping with the City's other levy adoptions, the $393,375 represents the <br />amount that was adopted in 2007. The majority of the levy would be used to purchase properties <br />that are targeted for development/redevelopment and to fund . consulting services such as <br />appraisal services attributed to the desired property. The EDA levy is not limited to housing <br />and/or redevelopment, but can be spent on such items as vacant land, monument signs and other <br />economic development related activities. It is anticipated that the EDA will be involved in <br />purchasing the KIH parcel in Gateway North Industrial Park in 2008. This value is <br />approximately $345,000. The EDA also pays for part of the annual golftournament. <br /> <br />Finance Committee / September 11, 2007 <br />Page 1 of6 <br />