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EDC Minutes <br /> May 1, 2013 <br /> Page 3 of 5 <br /> of 37.8% is largely driven by vacant buildings located at 1200 and 1210 County Road E and <br /> available sublease space at Country Financial. <br /> Commissioner Altstatt stated that the buildings located at 1200 and 1210 County Road E were <br /> owned by a real estate investment trust which likely had specific profitability targets for new <br /> leases which make it difficult to subdivide the buildings and lease to smaller, "mom and pop" <br /> users. <br /> Commissioner Altstatt added that CEOs or CFOs touring the building may view the <br /> surrounding district less desirable than other leasing options due to the condition of the road, <br /> sidewalks, and bridge. He noted that the Carroll's Furniture vacancy may also be seen as a <br /> negative by potential tenants. <br /> Community Development Director Hutmacher stated that staff would continue work on the <br /> analysis and bring it back to the EDC for review prior to presentation to the Economic <br /> Development Authority or City Council. <br /> C. Economic Gardening <br /> Community Development Director Hutmacher stated that Hennepin, Carver, Scott, and <br /> Ramsey Counties are collaborating on an economic gardening initiative. She provided <br /> background information on economic gardening. She noted that recruitment efforts would be <br /> targeted to growing businesses with $1 to $50 million in revenue, 10 to 100 employees, and that <br /> sell products or services outside of the Twin Cities metropolitan area. <br /> Community Development Director Hutmacher added that participating businesses would <br /> receive 50 hours of business research assistance at no cost. Participating CEOs must commit to <br /> working directly with the research consultants for 10 to 12 hours, as well as attending monthly <br /> CEO round table meetings. <br /> Discussion ensued on typical research projects, feedback from business participants in the <br /> economic gardening pilot program, and business recruitment strategies. <br /> Commissioner Huninghake stated that he thought it was a great idea to assist existing <br /> businesses so that they can grow and create jobs in the community. <br /> 4. UPDATES <br /> A. TCAAP <br /> Community Development Director Hutmacher reported that Ramsey 'County closed on the <br /> purchase of the TCAAP property on April 15, 2013. Bolander and Sons, Inc. has already begun <br /> work on the demolition and remediation contract. Erosion controls are being installed, and <br />