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Old City Hall Site as a Data Center <br />The site under consideration as a location for a data center in Ramsey is the old city hall site. This site is <br />20.86 acres in size and has many of the attributes companies look for in a data center site. Given the <br />size of the site it is possible to construct a facility of approximately 250,000 or more square feet <br />depending upon building design and parking requirements. Based on existing data centers, facilities of <br />this type have an estimated market value of approximately $120 per square foot bringing the total EMV <br />for a 250,000 square foot facility to $30 million. The commercial industrial property tax impact from a <br />project of this size would approach an estimated $1,190,000 annually. The City of Ramsey's share of the <br />commercial industrial property taxes would be approximately $268,000 annually. <br />Old City Hall Site as Housing <br />The Old City Hall site could also be used for housing. Based on common densities and surrounding land <br />uses the potential exists to develop approximately 60 to 80 homes on the site. Based on current average <br />estimated market values housing on this site would yield approximately $15 million to $20 million in <br />estimated market value with corresponding property tax revenue of approximately $150,000 to <br />$200,000 annually. The City of Ramsey's share of this fiscal impact is estimated to be approximately <br />$35,000 to $50,000 annually. <br />The scope of this analysis has been limited to estimated revenue generated by the two alternative land <br />uses. The city may also want to conduct additional research to determine the net impact after analyzing <br />the costs associated with the differing land use development options. <br />• Page 4 <br />