Laserfiche WebLink
<br />Strategic Financial Plal1nlng <br />fU1'!.e 19,2009 <br />Page 4 <br /> <br />. Armstrong Interchange. <br /> <br />. Public W Qrks Site and Facility. <br /> <br />. Fearson Business Park Infrastructure. <br /> <br />. Water System Improvements <br /> <br />Approach <br /> <br />We propose a phased approach to planning for future capital improvements. n"ds project focuses on <br />creating an initial funding framework for these projects. Our goal is to provide preliminary <br />inforn'tanon that ties into plant'ting for TIP districts and Ramsey Town Center. If necessary, we will <br />work with the City to define a second phase of investigations that addresses specific issues and <br />projects. <br /> <br />Northland proposes to undertake the following tasks: <br /> <br />1. Work with City Staff via phone and email to collect information on estimated costs, potential <br />N.nding sources and timing of each improvement project. <br /> <br />2. Prepare a funding profile of ea<:h project. The profile wUl include an inVE!1'\tOry of options <br />available to alianee each project and the strengths and weaknesses of each option. Objectives of <br />this task u'\clude: <br /> <br />Sl.. Identifying projects with clear fundil'lg strategies. <br /> <br />b. Identif)/mg projects with potential fu.nding gaps. <br /> <br />e. Identif)'lng decisicm making and process factors. <br /> <br />d. Providing mformation for use in evaluating alternative use of TIP funds and in financial <br />planning for Ramsey Town Center. <br /> <br />3. Review profiles with City Staff. Northland will meet with Staff to review and obtain feedback 01'\ <br />the capital improvement funding profiles. This meeting will be used to determine the need (if <br />any) for a second phase of capital improvements planning. <br /> <br />Northland expects to undertake and complete this work in July and August. <br /> <br />Sudget <br /> <br />Northland will perform the tasks described above for a cost not to exceed $3,200. <br /> <br />Future Planning <br /> <br />As noted at tl'lE! beginning of this memo, these tasks do not result in an overall finandal plan for the <br />City of Ramsey. They IIlrel however, essential steps in a process of creating a plan. The completion Of <br />tl'\c tasks described inth1s memo will provId.e important guidance on next steps to creating a <br />financial plan. As appropriate, we will work with the City to define investigations, costs and process <br />for the next steps. <br /> <br />P6 <br />