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City of Ramsey <br /> FAX (612) 427-5543 <br /> 15153 NOWTHEN BOULEVARD N,W,, RAMSEY, MINNESOTA 55303 ' TDD (612) 427-8591 <br /> <br />May 4, 1994 <br /> <br />Mr. Dennis L. Sharp <br />Sharp and Associates <br />10907 - 93rd Avenue North <br />Maple Grove, M/'4 55369 <br /> <br />RE: PROPOSED MULTI-TENANT INDUSTRIAL BUILDING <br /> <br />Dear Mr, Sharp: <br /> <br />The City Staff have completed a preliminary review of the numbers for your proposed facility on County <br />Road #116. It would appear that the City is able to consider assisting you in thc development of tim facilily. <br />Assuming we accurately understand your project and contingent upon City Council approval of a development <br />agreement, site plan and public improvements, wc believe thc following is possible and appropriam. All <br />numbers must be verified, but this will give us a place to start. <br /> <br />l) <br /> <br />The City could provide assistance at $1.00 per square foot for Phases 1 and 2. The total estimated <br />square footage would be 26,632. <br /> <br />2) <br /> <br />We would discuss the timing of the first capital infusion of 226,632 (first actual increment is received <br />in 1996). <br /> <br />3) <br /> <br />4) <br /> <br />Any future allocations over the term of the agreement will be made after verification of payment of <br />property taxes. <br /> <br />We would expect to limit thc length of the agreement (and co~Ls incurred by the City) to a five to seven <br />year period. <br /> <br />5) <br /> <br />We will require an assessment agreement for a minimum value of $833,100 for the term of the <br />con tract. <br /> <br />Please review these numbers to see if they facilitate your proposed facility. If thc3, are acceptable, the City <br />would like to assist with the site plan review process. For your use, I have included a cop5' of the site plan <br />application packet, As you will note, the deadline for the June Planning Commission meeting is May 17. In <br />order to best facilitate the construction in ] 994, it would ~ .ideal to request approval at this meeting. <br /> <br />Should you have any questions concerning this proposal, please contact m et at 427-1410. <br /> <br />Sincerely, / / <br /> <br />Economic Der e}o~.~;c~rdi nator <br />JDO/jm <br /> <br />cc: <br /> <br />Ryan Schrader, Cit.',' Administrator <br />Mayor and City Council <br /> <br /> <br />