Agenda - Economic Development Authority - 08/08/2013

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(6) 167/47 Commercial Node Background The retail node located at 167th Avenue and Trunk Highway 47 has been a topic of discussion with City Councils and EDA boards for several years ("167/47 Node'). The 167/47 Node has struggled to become economically viable for some time, is experiencing high vacancy rates, an increase of blighted building conditions and escalating crime. The City has received significant number of inquiries from property and business owners located in the 167/47 Node from 2012 to 2013 requesting assistance to help correct a market failure. Additionally, the City of Ramsey owns an inventory of real property located adjacent to the 167/47 Node totaling 16.52 acres. Said property was identified as surplus City owned land in 2012 and is available for sale. Both the EDA, Planning Commission, and City Council have expressed interest in addressing the 167/47 Node. Statement of Goals To guide City participation in the redevelopment of the 167/47 Node; and, specifically identify a common goal, vision, working parameters and a process to garner public input. The desired outcome of this document is to develop a clear, consistent, transparent and fair process the City, prospective developers, property owners and Staff can rely on as proposals are received. The Ramsey Economic Development Authority (EDA) shall represent the City of Ramsey in relation to the 167/47 Node by utilizing this document. Update The EDA reviewed the above statement of goals on 07/18; at which time, it was recommended the document be forwarded to the Planning Commission for input on a public input process. The planning Commission plans on hosting a public input session in September and reviewing public input and adopting/amending the "statement of goals" document in October. At which time, the document will be forwarded to the City Council for review and adoption. Staff plans on setting up a meeting with the property owners group to discuss a marketing strategy after the "statement of goals" document adopted--November/December.