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).~:'v::'~b'-:' 923,December 18, 1998 Draft [ Partnerships: The formation of partnerships in development of industrial or business parks and redevelopment projects can provide the City with the ability to maintain control of the qualitative aspects of the development and convert unmarketable property into attractive sites for future development. Partnerships can be created with government agencies (DTED, Metropolitan Council, Anoka County), major industrial or business park developers or major utility companies (AEC). 5. Redevelopment: Identify underutilized and blighted land areas that could garner a higher net tax capacity and work with the landowners of these sites to establish a long term redevelopment plan. The main objectives of redevelopment plans should be to increase the e[ficiency of the land use and enhance image. Such a plan would identify other redevelopment objectives, a financing strategy and a marketing strategy and would assess the public cost of the project vs. the anticipated public benefit. Financial assistance for redevelopment projects should only be used when it can be demonstrated that a project could not be done without such public assistance and when the overall benefit (qualitative and quantitative) exceeds the cost. Areas that should be studied fizrther for potential redevelopment include portions of the Highway 10 Corridor, the heavy industrial uses lying generally west of Sunfish Lake Boulevard, Block I of Ramsey 67 Industrial Park at the southeast comer of Uranium and Industry Boulevard, the shopping center at 167th and Highway 47 and Highway 10 Ramsey Subdivision. 6. Industrial t>ark Development: A strategy that has been successfully used in the past is for the City to be the developer of the industrial park. Sited benefits to the City being the developer include site control, creation of jobs, increased property values, diversification of the property tax dollar, maintained competitiveness with neighboring cities and the provision of land for expanding companies. Potential areas that require further study for industrial park development include the area south of the landfill, which consists of roughly .150 developable acres and an area west of Ramsey Boulevard and north of the raikoad tracks, which consists of slightly less than 150 acres)8 38 Information extracted out of a memorandum from Diana Lund, Acting Finance Officer; June 2, 1998; subject: "Industrial Park Report" City of Rarnsey Comprehensive Plan Page 118