Agenda - Council - 08/31/2010 - Special

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Councilmember introduced the following resolution and moved for its adoption: RESOLUTION #10- 08 -XXX RESOLUTION DEDICATING $3.4 MILLION OF CITY OF RAMSEY FUNDING FOR THE RAMSEY RAIL STATION AND AUTHORIZING CTIB GRANT APPLICATION FOR 2011 WHEREAS, the City of Ramsey Rail Station is a top City priority and it supports making application to the County Transit Investment Board (CTIB) for a $1 million grant to assist in funding the Ramsey Rail Station; and WHEREAS, 2011 would be the first -year CTIB allocation of a total of $3.2 million to come from CTIB over three years; and WHEREAS, the total project cost for funding purposes is estimated at $15 million; and WHEREAS, grant application is due on September 10, 2010, with awards being made in November, 2010; and WHEREAS, a positive award of $1 million in CTIB funding would put the City of Ramsey on track for making other funding requests and would serve as a positive indicator for private development that the Ramsey Rail Station Project has support from other levels of government; and WHEREAS, the City of Ramsey has projected $68 million in improvement costs to be funded with the COR Tax Increment District and of that amount, $6 million has been projected to be the City's contribution to the construction of the Rail Station, the amount subject to securing additional funding from other Federal, State, and regional sources; and WHEREAS, adoption of this resolution demonstrates the City of Ramsey's commitment to $3.4 million of 2011 project funding for the Ramsey Rail Station. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: 1) That City staff is hereby directed to make application to the County Transit Investment Board (CTIB) for a $1 million grant to assist in funding the Ramsey Rail Station. 2) That of the approximate improvement costs to be funded with the COR Tax Increment District, the City will commit to $3.4 million in 2011 funding and up to $6 million total for the City's contribution to the construction of the Rail Station, subject to securing additional funding from Federal, State and regional sources. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereon, the following voted in favor thereof: