Agenda - Economic Development Authority - 11/14/2013

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Drafted byPatrick l3rama, Adopted?ih.XY/2033 iii. Ramsey RDA Fund and Revolving I .oan Fund (Ri.F)* iv. Anoka County LIRA Account v. State Redevelopment Grant and Loan Program vi. hand Write Down vii. Sewer Trunk Fund* The City will consider all financial assistance programs listed above for projects that directly address existing blighted properties; see Appendix A: Primary .area of Conceini. The City will consider financial assistance programs vi-vii listed above for projects that do not directly address existing blighted properties; see Appendix A: Primary Area of Concern. Utilization of financial assistance requires completion and approval of a Business Subsidy Application by the Ramsey 1:1)A a.nd City Council. * Sewer Trunk Fund, The 167/47 Node is not currently connected to City sanitary sewer service. Through the City's Comprehensive Sewer and Water Plan, it has been determined a trunk sanitary sewer line could he constructed to serve the 167/47 Node in the future (estimated $1.5111 expenditure 2013). However, the 167/47 Node sewer trunk line is identified as a special trunk line; which means, it was not included in the pro forma to determine sewer trunk lees. It is estimated, at full build out, the special 167/4'7 Node sewer trunk line would recapture XXXXX dollars in sewer trunk fees (based on the pro forma). Therefore, the City would be subsidizing XXXXX dollars, after collection of sewer trunk fees, for the proposed trunk line. the City does have sufficient dedicated funding available to construct said sewer trunk line (City Sewer Fund balance estimated $3.4M 2013). In order to replenish the City Sewer Fund, the City would only support an extension of the sewer trunk line if a XXXXXXXX demand was created by new development. [need council direction —may not be political support] PUBLIC INPUT: It is important to compile public input regarding the 167/47 Node before final adoption of ibis document by the City Council. Two levels of public input are important to this process: (I) Property Owners; and (II) Surrounding Property Owners. A. Primary Proverty Owners: The City does support facilitating an ownership meeting group to brainstorm options, share information and to investigate opportunities for redevelopment and additional uses that are compatible with the surrounding residential area. This effort will be led by the Economic Development Authority (EDA). Palley far Guiding Development Participation: 167/47 Retail Node jDR41 r] Page 3 of 5 Project Summary — 167th Avenue Node at Saint Francis Boulevard