Agenda - Council - 03/12/1996 - Laserfiche WebLink

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The City of Ramsey has for sale and development approximately 21.7 acres of residential property located along 153rd Avenue just west of Sunfish Lake Boulevard as shown on the attached map. The City is interested in receiving proposals from interested parties for the development of this .property. The property is currently zoned for single family housing. Development of the property m a manner other than single family detached housing will be considered. However, neighborhood involvement and concurrence with the development proposal is of utmost importance. It is preferred that the property will be sold to one buyer and that that buyer will install infrastructure as a private project. If the buyer proposes a public project, 30 percent overhead will be assigned to conswaction costs with assessment terms at five years at 8.5 percent. The City expects to dispose of this property to the highest responsible bidder. Considered in determining the bid award will be: Payment for the property; sale on terms will be considered but will be analyzed based upon a present value analysis. Market value of the proposed project (the developer will sign an assessment agreement with a total project and structure minimum value with a tax deficiency provision). Conformance of the project to the neighborhood (developer will be expected to submit a plan for citizen participation to ensure surrounding properties have been fully apprised of the project prior to project construction. 4. Timeliness of construction or project phasing. A development escrow will be required to assure timely completion. The City will be dedicating proceeds from this sale as well as park dedication fees from the development toward construction of the 80-acre park just south of the development parcel (south of 153rd Avenue). The City's Capital Improvements Program has planned for this park development during 1997. Planning park development and phasing wilt be completed by September 1996. The City expects to make municipal water and sewer trunk available to the site during 1996. Any off-road trail development that occurs coincident to this development is expected to occur on the south side of 153rd Avenue and not on the development parcel. Primary municipal fees associated with this property in 1996 are as attached. The City contemplates receiving letters of intent from interested developers/builders. The City will then negotiate a purchase and development agreement with the chosen developer utilizing our standard development process. Upon the decision to work toward an agreement with a single developer, preferred developer status will be granted for 90 days within which to enter into a development agreement. Extensions of this period will be considered but not guaranteed.