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CASE # 3 RECEIVE RAMSEY TOWN CENTER STEERING COMMITTEE RECOMMENDATIONS By: Heidi Nelson, Deputy City Administrator/Community Development Director BACKGROUND: The Ramsey Town Center Steering Committee met on Thursday, September 24th to review the Development Process for Ramsey Town Center as depicted by Landform (see attached). The Committee discussed the work that has been completed thus far, work that is currently underway and the role of the committee going forward. The following is a summary of the recommendations ofthe committee: STEERING COMMITTEE RECOMMENDATIONS: 1. Close out Phase 1. Schedule formal Council approval of land use/massing plan and conununity vision components. 2. Complete branding and positioning study by November 6,2009. 3. In the next 60 days, the RTC Steering Committee will review current market data and absorption rates and establish a phasing plan and timeline for completion. 4. Establish a development corporation for Ramsey Town Center. The corporation would be charged with developing a project pro forma and establishing initial land prices based upon the City's cost of the land and the cost of anticipated project amenities. Extend current consultant contract 90 days to address these issues. 5. Upon creation of the development corporation, the Council shall decide the ongoing role, if any, of the RTC Steering Committee. 6. Continuously evaluate exit strategy based upon current user prospects ( e.g., VA Clinic, Allina, and targeted Buxton Study businesses). At the time of the writing of this case, the members of the Steering Committee are reviewing the recommendations as drafted by staff following the 9/24 Steering Committee meeting. Steering Committee members have been invited to attend the HRA meeting for this discussion. BOARD ACTION: Based on discussion. City Administra r Reviewed by: HRA: 10/06/09 Attachments: A: Ideal Development Process by Landform