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TO: FROM: JAMES NORMAN, CITY ADMINISTRATOR DIANA LUND, ACTING FINANCE OFFICER DATE: JUNE 2, 1998 SUBJECT: INDUSTRIAL PARK REPORT Attached is the completed report regarding City-owned industrial parks. The purpose of this report was to answer the how and why of whether or not the City of Ramsey should actively pursue land acquisitions for the development of additional industrial parks. The report briefly outlines the history of Ramsey's Business Park 95 and why the City should purchase land for a second and/or third industrial park. The following is an overview of the findings: Based on the facts that pertain to Ramsey's Business Park 95, the data obtained showed that owning an industrial park has proven feasible to the City. Not only is the park operating at near capacity, but the City of Ramsey has overcome its greatest obstacle that cities face, that being, retaining control over what development is suitable. To remain in control and to meet the demand for additional industrial development, the City has shown an interest in two parcels of land - those parcels being the 182 acres site owned by Waste Management and a 149 acres site just west of the Anoka Electric Cooperative Energy Park. The City could effectively acquire these parcels through several different financing options as outlined in the report. As it has been proven in the past, with the Ramsey Business Park 95 venture, an efficient industrial park will generate revenue that will cover all costs extended by the City. While the past park has been successful, the City must look to its future. To remain competitive with neighboring cities who are actively building industrial parks, the City must act today on the acquisition of additional property for industrial purpose. The City has the resources available today-land and financing, that will put them in a respectable position for tomorrow. I would like to extend my appreciation to the individuals who offered their time and assistance in helping me prepare this report. A big thank you to Dan O'Neill, of Springsted and Steve Bubul, of Kennedy and Graven, who offered their expertise on finance and bonding; Steve Jankowski, City Engineer, for the layout of the area; Mike Mulrooney, of Advance Resources for Development, Inc., for 'economic' help; Linda Mayer and Linda Waite Smith for pointing out my grammatical errors; and to you, Jim, for your assistance and guidance.