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MEMORANDUM <br /> <br />DATE: <br /> <br />February 6, 1996 <br /> <br />TO: <br /> <br />Mayor and Council <br /> <br />FROM: <br /> <br />Ryan R. Schroeder, City Administrator <br /> <br />SUBJECT: Commercial/Industrial Market Value Comparisons <br /> <br />Council has requested information on the percent of market value of area cities attributable to <br />commercialfmdustrial uses. Attached is an exhibit prepared by the North Metro Mayors <br />Association (NMMA) displaying this information for member cities for tax year 1992. It would <br />not be expected that these relative values would have changed between then and now in any <br />significant way. <br /> <br />Commercial/Industrial (CI) values within the NMMA range from 2.46% in Champlin to 32.94% <br />and 32.67% in Brooklyn Center and Minneapolis. Ramsey is shown at 8.87% with Anoka at <br />19.03%. The average for these cities was 15.48%. <br /> <br />In the attached memorandum, dated January 30,1996, there is a discussion about what the future <br />value will be in Ramsey attributable to the various types of property. After the recent Council <br />action maintaining the area west of Ramsey Boulevard, east of Armstrong, and north of the future <br />C.R. #116 as industrial, the CI future value increases to 33.5%. If Council also adds back the area <br />north of C.R. #116, east of Ramsey Boulevard to the industrial base, this number will increase to <br />36.91%. <br /> <br />The question was also raised as to what percent of total acreage was dedicated to CI uses. Such a <br />comparison is most relevant between like communities such as Andover, Ham Lake and Elk River <br />within which there are large tracts of land dedicated to rural and quasi rural uses. In these <br />communities the land area percentage is generally 4-6% which is comparable to Ramsey. <br /> <br />If a land use decision is based solely upon the amount of CI land, assuring that there is enough <br />inventory in the City, it does not appear that that should be an issue at this time. If staff projections <br />are accurate (and we used conservative assumptions) our amount of CI value compared to other <br />land uses will be among the highest in the north metro upon final buildout. <br /> <br />/jmt <br /> <br /> I <br /> I <br /> I <br /> I <br /> I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />