Agenda - Economic Development Authority - 07/08/2010

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• The businesses must be repositioned and marketed to appeal to a larger number of trade area residents, particularly those with higher incomes. This will necessitate redesign of the commercial area and therefore a master plan should be completed to determine how to redevelop the area. A master plan for the area should be prepared to determine how the area can accommodate future development potential. A firm should be engaged to prepare concept plans showing how the proposed retail and service uses could be accommodated in the commercial node. The study should include some fiscal analysis and provide different financing options to accomplish higher quality development in the area. The EDA felt it was important to follow Jim McComb's recommendation to prepare a master plan for the area. The EDA directed staff to engage the services of a consultant to develop a master plan for the Rum River Commercial Node based on the recommendations of the 2003 Market Analysis and appropriated EDA monies to fund the study. Currently, some of the information in the 2003 Market Analysis is in need of updating. Much of the demographic information was updated through the Buxton Study and information regarding household size provided by the Metropolitan Council. Subsequent to completion of the 2003 Market Analysis, major developments within an approximate one (1) mile radius include the Brookfield Addition, Estates of Silver Oaks, and completion of Elmcrest Park. Additionally, Water Tower #3 is near completion and located within the study area. 2003 Master Plan Studv: Following completion of the 2003 Market Analysis, the City contracted with the Hoisington and Koegler Group (HKGi) to complete a master plan study, as HKGi had been the consultant for the 2002 Comprehensive Plan Update, was working on a proposed major amendment to the 2002 Comprehensive Plan Update (proposed in 2004), and was processing amendments to the City's Zoning Code at the time. HKGi worked closely with the EDA and surrounding property owners to prepare four (4) concept plans for the study area. HKGi's proposal also included assessing the financial feasibility of the chosen master concept. Due to their close working relationship with the City during the writing of the Comprehensive Plan and amendment of the City's Zoning Code, HKGi already had extensive knowledge of the City and was up to date on Ramsey's current issues and challenges that may affect the subject commercial node. HKGi used the recommendations from the 2003 Market Analysis as assumptions in developing the four (4) concepts. The 2003 Master Plan Study assumed that municipal water and sanitary sewer would service the area. At this time, municipal water exists ready to service the area. Municipal sanitary sewer does not. As previously noted, the City attempted a major Comprehensive Plan Amendment process in 2004. It was the intention to combine the 2003 Master Plan Study into the proposed 2004 Comprehensive Plan Amendment. However, the 2004 Comprehensive Plan Amendment was never adopted, and thus the land use designation for the study area was never amended. Subsequently, the land use designation remained the same in the recently Metropolitan Council approved 2030 Comprehensive Plan Update as well. The other areas proposed for amendment in the 2004 Comprehensive- Plan Amendment were amended separately at the time those areas developed. It would be anticipated the same would occur for the Rum River Commercial Node, unless Staff is directed to prepare a Comprehensive Plan Amendment for the area in advance of development. Based on the availability of existing and planned municipal services, it can be reasonably assumed that the land use would be amended in the future to include higher densities than in the current Future Land Use Map provides when sanitary sewer is extended to the area. In addition, the City Council reviewed several land use concepts in 2008 during the approval of Water Tower #3 to ensure viable, future redevelopment potential for the area surrounding the water tower. Those concepts are also included for review.