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9-21-2000 <br /> <br />Gerald L. Bauer Development <br /> <br />Background and Assumptions: <br /> <br />The City of Ramsey is entertaining the thought of Providing City Sewer and Water Services to <br />the west-end of the city. Gerald Bauer will develop his property located in Section 20 into a <br />mixture of townhouses and residential housing. The property that Mr. Bauer owns is a total of <br />174 acres. For this study the northern 107.8 acres will be developed residentially. Of the 107.8 <br />acres, 93 acres can be built on. A low area exists on a port/on of the property. This would <br />provide for approximately 300 townhouses and 83 Single family houses. This leaves the south <br />66.2 acres for commercial development. The future bridge crossing has a great deal of impact <br />for this parcel and for ti'tis study we w/ll assume it is completed. <br /> <br />Assumptions' <br /> <br />300 townhouses will be built at a rate of 5 units per acre. There will be (50) $1901000 un/ts, <br />(100) $220,000 units, (100) $250,000 units and (50) $280,000 units. 83 Single family houses <br />will be built at a rate of 2.5 houses per acres. There.will be (40) $200,000 units and (43) <br />$260,000 units. Commercial development will be based on 30% coverage. That would <br />accommodate for $62,000 SQ/FT ofbuildings ~ $50 per SQ/FT. Townhouse usage rates are <br />based on 15,000 gallons per quarter for Sanitary Sewer and Water. C/I usage rates are based on <br />1000 gallons per acre per day. <br /> <br />Sewer and Water Revenue based on assumptions: <br /> <br />Service <br /> <br />Fee per Quarter Fee Per year <br /> <br />Sanitary Sewer (C/I) $ 15,093 $ 60,372 <br />Water (C/l) $ 7,631 $ 30,524 <br />Sanitary Sewer (TH) $ 21,804 $ 87,216 <br />Water (TH) $ 7,986 $ 31,944 <br /> <br />Yearly TOTAL $ 210,056 <br /> <br />Tax Revenue based on assumptions: <br /> <br /> Revenue Source Tax Rate Units Yearly Revenue <br />Tax Revenue (Commercial) 21% per year 1,460,500 (Tax Cap) $382,939 <br />Tax Revenue (Housing) 24.115% !~er year 1,172,159 (Tax Cap) $282,666 <br />Total $665,605 <br /> <br />Considerations and Concerns: <br /> <br />The sight has portions that cannot be built on. It does open opportunities for dredDng out low <br />areas on the property. Mr. Bauer feels that a "lake" created by the dig~ng out of the low areas <br /> <br />23 <br /> <br /> <br />