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ECONOMIC DEVELOPMENT COMMISSION <br />Supplemental Notes to January 21, 2015 Agenda <br /> <br />Cardiovascular Systems, Inc. <br /> <br />On schedule, Ryan Co. secured a Temporary Certificate of Occupancy in December for <br />the lab and clean room manufacturing space. This space has been turned over to CSI and <br />they have been working on getting their operations in place. <br /> <br />Ryan Co. is nearly done on the exterior, with a few minor items remaining that won’t be <br />finished until spring when the weather warms (including some landscaping, parking lot <br />stripping, etc.). Wall signs have been hung on two of the building’s facades, with two <br />more wall signs to be hung shortly. The monument sign has also been completed at the <br />main entrance to the property. Ryan Co. continues working on interior finishes, with <br />final occupancy expected in March. <br /> <br />No new information is available regarding CSI’s Minnesota Investment Fund loan. As <br />previously reported to the Commission, loan documents were sent to the company in <br />October for review. City staff has followed-up with CSI on their timing, as a public <br />hearing with the City Council is required in advance of releasing funds. CSI responded <br />that they are sitting on the documents, as they have inquired with DEED on the prevailing <br />wage requirements of the loan. CSI is likely seeking clarification on this because if they <br />don’t meet their jobs goal, they would be legally bound to refund portions of their <br />forgivable loan, prorated per-job. <br /> <br />Pulte Homes <br /> <br />Pulte held a “soft opening” at their Shoreview site over the weekend and reported they <br />sold six homes, which was a very successful start. Pulte continues to work on the two <br />model homes in New Brighton, with work expected to conclude by the end of February. <br /> <br />Pulte submitted application for land use approval for the remaining phases/homes in the <br />development. This includes the remaining 28 single family homes and 36 townhomes. <br />The Planning Commission is considering Final Planned Unit Development and Final Plat <br />approval of the request on January 20th. The City Council will likely take final action on <br />January 27th. Attached are excerpt plans from their land use submittal package. <br /> <br />APi Group Training Center <br /> <br />APi shut down construction operations for the season in November. Construction will <br />resume in the spring. Contractually, APi is required to complete the building by <br />December 31, 2015. <br /> <br />Ryan’s Redevelopment Services Agreement & Colliers Listing Agreement <br /> <br />These agreements were presented to the City Council on November 26, 2014. The City <br />Council unanimously approved the extensions, as recommended by the EDC.