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Approved <br />CITY OF LINO LAKES <br />ECONOMIC DEVELOPMENT <br />ADVISORY COMMITTEE <br />MINUTES <br /> <br />DATE: Thursday, March 13, 2008 <br />MEMBERS <br />PRESENT: J. Milbauer, B. Combs, J. Helgemoe, J. Schwartz, M. Keller, K. Corson, K. <br />Lodico, J. Stranik, D. Roeser <br />MEMBERS <br />ABSENT: <br />OTHERS <br />PRESENT: M. Divine <br /> <br />GENERAL/MINUTES <br /> <br />New Members <br />Introductions were made to welcome Mr. Roeser and Mr. Stranik as newly appointed members. <br /> <br />Selection of Chair and Vice Chair <br />It was moved and seconded to appoint Michelle Keller as chair for 2008. Motion passed <br />unanimously. It was moved and seconded to appoint Bill Combs as vice-chair. Motion passed <br />unanimously. <br /> <br />Minutes <br />Minutes for December 6, 2007 and February 7, 2008 were approved. <br /> <br />Legacy at Woods Edge project <br />Hartford, the master developer of Woods Edge, went into foreclosure. The Marshal Group now <br />owns the unsold property and has it up for sale. The Country Inn & Suites owner informed staff <br />it intends to close. Mr. Milbauer stated that he believed Hartford had good buyers lined up, but <br />they have evaporated over the past couple of years because of the market. JBL has the property <br />listed and is aggressively pursuing a sale. A couple of large development companies have looked <br />at it. It will take someone with the capacity to buy and hold to take out the Woods Edge project. <br /> <br />Livable Communities grants were spent on land acquisition and development of affordable <br />housing, both of which were accomplished. The affordable housing project is filling slowly. The <br />YMCA, however, is doing extremely well. Membership is ahead of projections. The Y board is <br />exploring expansion. <br /> <br />Ms. Schwartz stated that at some point the city will have to make a decision about changing the <br />plan, adapting to the current market, or staying the course. <br />She asked what other cities are doing. Mr. Milbauer stated the city of Ramsey is staying the <br />course and won’t budge on the development agreement. Two national developers have been <br />interested but the city has not given them any breaks. Mr. Stranik asked how the EDAC message <br /> 1