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Capital Improvement Program <br />City of Ramsey, Minnesota <br />2008 thru 2012 <br />Project# 06 BLDG - 001 <br />Project Name Public Works Campus Building Improvements <br />This project contemplates acquisition of 25 acres for a new public works campus and construction of the first phase of <br />buildings to serve the needs of the community. The 2006 Salt storage building can be relocated to the site. <br />Description <br />CIP Act Criteria: <br />1. Conditions of City Infrastructure and Need for the Project: <br />The present PW site is landlocked and current size cannot be expanded to meet <br />expected future growth. <br />2. Demand for the Improvement: <br />As described above, the site doesn't meet the needs of the futur <br />3. Cost of the Improvement: <br />Land Costs: $3,000,000 <br />Building: $8,000,000 <br />4. Availability of Public Resources: <br />The project may be funded by a combination of general property tax levy and available <br />resources on hand. In addition, the bonds would be secured by the City's full faith <br />and credit. <br />5. Relative Costs and Benefits of Alternative Uses of the Funds: <br />There are no significant alternatives for funds designated for this project. <br />6. Operating Costs of the Proposed Investments: <br />There would not be operating costs for the first five years. The land will be held <br />and developed as growth occurs. <br />7. Options for Shared Facilities with Other Cities or Local Government: <br />Not applicable; the site currently exists and is located next to current PW facility. <br />8. Level of Overlapping Debt: <br />17 <br />2006/2007 <br />2006/2007. Tax <br />Tax Capacity <br />Capacity Value <br />Issuer Value in City <br />Wright County $123,154,690 $7,588,007 <br />ISD No. 885, St, <br />Michael - <br />Albertville 20,094,991 5,545,107 <br />ISD No. 728, <br />Elk River 63,875,818 2,042,900 <br />Percentage <br />Applicable <br />in City Net Debt <br />6.16% <br />27.59 <br />3.20 <br />Contact <br />Department Capital Impr Bonding Projects <br />Type Buildings <br />Useful Life 50 Years <br />Category Capital Improvement Bonding <br />Priority n/a <br />Total Project Cost 511,000,000 <br />$18,385,000 <br />190,673,009 <br />290,575,000 <br />Taxpayers' <br />Share <br />of Debt <br />$1,132,516 <br />52,606,683 <br />9.298,400 <br />Total Indirect Debt: $ 63.037.599 <br />