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MEMORANDU/Vl <br /> <br /> DATE: November 30, 1994 <br /> <br /> TO: All City Staff _,~ <br /> FRO M: James Gromberg, Economic Development Coordinato.r~/-Y <br /> <br />S U B J E CT: Year-End and 1995 Forecast Report <br /> <br />Attached for your review and comments is a draft copy of the 1994 year-end and 1995 forecast <br />report for the City of Ramsey. This report is a listing of the construction activity occurring in <br />1994, including ~oth residential and commercial, and the projections for residential building in <br />1995. This report~does not include specific projections for commercial development in the City. <br /> <br />The residential prgjections are based upon the following assumptions: <br /> <br />· Mortgage interest rates will continue to rise leveling off at 9.5 - 10 percent <br /> <br />· 180 single4family residential unit starts <br /> <br />· MUSA expansion of 450 acres approval in January 1995 <br /> <br />· Completion of final phases of currently existing subdivisions <br /> <br />As commercial p~ojections are not included, the City would expect to see the following new <br />buildings in 1995: I <br /> <br />· Anoka Eleotric Cooperative facility - 130,000 square feet <br /> <br />· New elementary school <br /> <br />· Phase 2 and 3 of Sharp incubator building ~ 44,000 square feet <br /> <br />In addition, the po~ibility exists for the construction of additional commercial buildings that have <br />not yet formally co&mitred to the construction of new facilities. <br /> <br />Should you have a~ny comments on this document, please indicate the comments in the affected <br />section and return them to me by December 16, 1994. <br /> <br />/jk~ <br /> <br /> <br />