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CITY OF RAMSEY <br /> <br />1998-2003 <br /> <br />CAPITAL IMPROVEMENT PROGRAM <br /> <br />[PROJECT TITLI~: K~tnis Prop~-ty Redevelopment <br />PROJECT TYPE: Street Improvement <br />PROJECT YEAR: 1998 <br />TOTAL ESTIMATED COST: $I,068,000 <br /> <br />'ROJECT DESCRIPTION AND LOCATION <br /> <br /> purchase of 13.2 acres &property on the east side of Trunk Highway #47 would allow <br />'or the redevelopment of the property to a more appropriate and higher land use. This could <br /> de for possible multi-family or senior housing. The project would also thclude a 600-foot <br /> ent of roadway from Sunwood Drive to the northern Lord of Life boundary. <br /> <br />IOJECT J USTIFICAT/ON <br /> <br />lwPUrchase of thc 13.2 acre Katnis prop=ty along Trunk Highway//47 would serve several important City goals. It <br /> ld provide necessary additional right-of-way for both the Trunk Highway//47 project and the extension of <br />God Drive. It would also place access control in the hands ofthe City, and the City could redevelop the property <br />3nsislent with the ultimate comprehensive plan and provide Lord of Life Church with a desired access to Trunk Highway #47. <br />! <br /> <br />PROJECT <br />Start Date <br /> <br />~mmary of Total Project Costs: <br />I ppmxlmate total cost S <br />ost already incurred $ <br />Balance of cost to complete $ <br />l etail of Total Cost Estimates <br />Land Acquisition <br />a. Site already acquired $ <br />lb. Site to bc acquired <br />c. Area required (acres) <br />d. Total estimated cost <br /> 2. Building CosffConstmction <br />IImprovements Other than Buildings Cost <br />Furnishings/Equipment <br /> <br />I To~al Project Costs <br />~rce of Funding: <br /> <br />IGeneral Fund <br /> <br /> Park Trust Fund <br /> <br />3. Landfill Trust Fund <br />IMSA <br /> <br /> Lawful Gambling Fund <br /> <br />6. Tax Increment Fund <br />IPublicImprovement Revolving <br /> Fund <br /> Utilities <br />7. Other <br />la. Issuance ofdcbt <br />b. Scalcoating escrow <br />c. Grants and aids <br />d. Inter-Fund loans <br />lc. Development fees <br /> L Communi_ty Donations <br /> Total other <br /> <br /> I Total Sources of Funds <br /> <br />1,068,000 <br />1,068,000 <br /> <br /> 966,600 <br /> <br />Proposed Expendlturesby Years <br />Prior 1998 $ 2001 <br /> 1998 s ~ 2002 <br /> 1999 $ 2003 <br /> 20O0 $ TOTAL <br /> <br />1,068,0001 <br /> <br />966,600 <br />I01,400 <br /> <br />i ,068,000 <br /> <br />1,068,000 <br /> <br />06'0 <br /> <br /> Oo <br />~o o' o <br /> <br />O <br />O <br /> <br />1,068,000 <br /> -21- <br /> <br /> <br />