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EDC Minutes <br />May 1, 2013 <br />Page 3of 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 <br />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 profitabilitytargets for new <br />leases which make it difficult to subdivide the buildings and lease to smaller, “mom and pop” <br />users. <br />Commissioner Altstatt <br />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 <br />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 <br />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 $1to $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 <br />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 <br />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 <br />reportedthat 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 />