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6. If this project fails will our property tax be affected? The project is structured so that project revenues and property tax increment can be used to pay the debt service. Additionally, if the project would fail, other tax increment revenue sources could be used to pay the debt service. There is likely no realistic scenario that can be presented that would result in an impact on property taxes to pay the tax increment -general obligation bonds. 7. What are you doing to help the rest of Ramsey? This project will have a direct and positive impact on the entire Ramsey community. The COR at Ramsey is Ramsey's project that has been envisioned as a gathering place for the community to live, do business, shop and dine for the past decade. By creating a pedestrian friendly, transit oriented downtown, those 230 occupied units of relatively affluent residents will bring customers to the existing businesses, activity and excitement to downtown Ramsey — The COR. The effect of success in The COR raises the tide for all of Ramsey and spurs additional growth opportunities for additional employment, housing and commerce throughout the City, thus increasing tax base to pay for existing services. 8. Why was retail included in the apartment project when other retail areas have vacancies and are struggling? The Residence at the COR project anticipates 3,000 square feet of retail on the north east corner of the project, immediately adjacent to the Municipal Plaza. This was a key component of the project to ensure that some retail or service use be present at the corner with the Municipal Plaza, however, the number of square feet was limited to 3,000 square feet to ensure that the retail was not over -built in this phase. If successful, additional opportunities for retail will be available on the north side of Sunwood Drive on all three sides of the park envisioned for that area. 9. What effect will the Ramsey Station have on the Northstar Commuter Rail Line and what additional effect will the COR at Ramsey have on the Northstar Commuter Rail Line? The construction of the Ramsey Station will immediately add an average of 230 rides per day to the Northstar Line. When the Station opens in late 2012, the Ramsey Star Express will stop its daily service to downtown, thus transferring those riders to the Northstar Rail. The Residence at The COR project has the potential to add additional riders of over 200, in that the likely residents of the apartments will value and utilize the transit amenity of the Northstar Station. These additional riders strengthen the Northstar Line and help support the eventual goal of extending the line past Big Lake to service St. Cloud, creating additional commuter opportunities for residents who may work or live in the north metro. As always if you should have any questions that are not addressed in this FAQ document, please contact Heidi Nelson, HRA Executive Director at 763-433-9817.