Agenda - Economic Development Authority - 04/24/2009 - Special Meeting

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Case # 1 CONSIDER PROPOSAL TO CONTRACT CONSULTING SERVICES TO PURSUE FEDERAL FUNDING FOR HIGHWAY AND TRANSIT INFRASTRUCTURE IMPROVEMENTS By: Sean Sullivan, Economic Development Coordinator Background: The City of Ramsey entered into a purchase agreement for a portion of Ramsey Town Center that was in foreclosure on March 18,2009 and plans to close on or before June 30,2009. Infrastructure improvements to Armstrong Boulevard and securing a rail stop have been identified as keys to help increase the marketability and success of the project as a whole. Federal monies would be a large part of the complete funding package to make these proposed projects become reality. The level of success of Ramsey Town Center is dependent on all parties with a vested financial interest working togethertoward a common goal. . Observations: The Tinklenberg Group has submitted a proposal to lobby federally on the City's behalf for transit and infrastructure improvements. The cost of the proposal is in an amount not to exceed $36,000. The proposed funding structure would be a public/private partnership. As part of that partnership the private sector would be required to contribute 40% of the entire consulting package. This would leave a balance of approximately $21,600 to be funded by the EDA. A member from the Tinklenberg Group will be present at the meeting to address any questions the EDA may have. The April 30th is the deadline fot accepting Reauthorization projects so if the EDA chooses to commit to a lobbying / consulting package it must be done so at this meeting. Staff is open to other proposals but none have been received to date. Staff is in support of the concept of seeking additional federal funding and lobbying, if necessary. Recommendation: None EDA Action: Based on Discussion Attachment: Tinklenberg Proposal EDA: 04.24.09 9