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<br />Strategic Financial Planning <br />June 19, 2009 <br />Page 4 <br /> <br />. Armstrong Interchange. <br />. Public Works Site and Facility. <br />. Pearson Business Park Infrastructure. <br /> <br />. Water System Improvements <br /> <br />Approach <br /> <br />We propose a phased approach to planning for future capital improvements. This project focuses on <br />creating an initial funding framework for these projects. Our goal is to provide preliminary <br />information that ties into planning 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 />funding sources and timing of each improvement project. <br /> <br />2. Prepare a funding profile of each project. The profile will include an inventory of options <br />available to finance each project and the strengths and weaknesses of each option. Objectives of <br />this task include: <br /> <br />a. Identifying projects with clear funding strategies. <br /> <br />b. Identifying projects with potential funding gaps. <br /> <br />c. Identifying decision making and process factors. <br /> <br />d. Providing information 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 on <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 />Budget <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 the beginning of this memo, these tasks do not result in an overall financial plan for the <br />City of Ramsey. They are, however, essential steps in a process of creating a plan. The completion of <br />the tasks described in this memo will provide 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 />