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EDA Updates 06132014 <br />(1) Old Municipal Center Site Development <br />Update <br />A motion was made by the Council to submit a Comprehensive Plan Amendment allowing for single <br />family residential. <br />(2) Prospect Updates <br />Staff has been and will be reaching out to existing and potential prospects (existing businesses) in <br />conjunction with the BR&E effort. <br />Prospect Alpha—MMI Precision <br />MMI Precision has submitted site plans for review for a roughly 6,500 sq. ft. facility to be attached <br />to their existing structure. This move is to satisfy space requirements in the short term. Future <br />needs are projected to include up to a 100,000 sq. ft. facility. Staff is working diligently in moving <br />forward plans for a future business park to accommodate this user as well as others that have <br />indicated space requirements. Securing a location for a future business park is a high priority of the <br />EDA; to ensure retention of these valued businesses and to offer space for relocations/start-ups in <br />Ramsey. A request for site plan approval for a building expansion was brought to the Planning <br />Commission on May 15Y. It was approved and subsequently approved by the City Council. <br />Update <br />Plans for expansion of the building have been received. <br />Prospect Affordable Housing--CommonBond <br />Prospect Affordable Housing presented a Letter of Intent for consideration by the HRA on 4/8. This <br />prospect is interested in developing a parcel within the COR (SE quadrant of Bunker Lake Blvd. and <br />the future Center St.). This prospect intends to construct 50-55 units of affordable housing. Staff <br />has analyzed and negotiated based on the initial LOI and will be presenting that to the HRA on 4/8. <br />Please note additional information is limited as the project is confidential at this time. <br />Staff presented to the HRA on 4/22 a revised LOI from regional affordable housing developer <br />CommonBond. CommonBond is proposing an affordable housing development on parcel #47 <br />(between Coborn's and The Residence at The COR). It is anticipated the project will require roughly <br />2 acres of the 6.5+ acres available. The Ramsey HRA directed Staff to enter into <br />purchase/development agreement negotiations based on criteria set forth in the closed session. <br />The Ramsey HRA adopted a resolution requesting support of the Anoka County HRA in the amount <br />not to exceed $250,000. This fund is levied on Ramsey and is to be used for housing and economic <br />development specific projects. It is expected the project will begin construction in Spring of 2015, <br />pending grant funding from a variety of stakeholders. <br />CommonBond owns and operates various types of housing developments across the Twin Cities <br />Metro and region. CommonBond has developed and continues to manage 104 housing <br />communities. They are a nationally recognized leader and innovator in the affordable housing <br />