Agenda - Economic Development Authority - 12/01/2003

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MEMO DATE: TO: FROM: RE: November 26, 2003 Economic Development Authority (EDA) ...... .r--~' Megan Wald and Sean Sullivan Staff Update Housing Committee: The Housing Committee is currently working on revising City Code's architectural standards in the R-2 Medium Density Residential District and R-3 High Density Residential District. The Planning Commission will be reviewing the proposed revisions at their December 4, 2003 meeting. Enclosed is a cop~ of the proposed revised ordinance. Staff will be raising several concerns regarding language proposed in ii. General standards sections 1, 2, and 3. Rum River Commercial Node: At the July EDA meeting, Jim McComb reviewed the final market study report for the Rum River Commercial node. Mr. McComb provided several recommendations to the City; a recommendation included hiring a.consulting firm to prepare a master plan for the subject area. The EDA discussed the importance of continuing forward with Mr. McComb's recommendations and appropriating EDA funds for future studies. Staff began working with Hoisington Koegler Group (HKGi) for advice on what type Of consulting firm the City should engage to complete such a detailed study. It became apparent that HKGi had the expertise, both in land planning and fiscal analysis that is needed to complete the master plan for the subject area. HKGi also has many years of experience in the City of Ramsey, for example they wrote the Comprehensive Plan, they are nearly completed with rewriting the City's Zoning Code, they have assisted with writing the Town Center zoning districts, and they have participated in other various projects. They are familiar with the City and current issues that may affect the redevelopment of the Rum River Commercial Node. Due to their knowledge of the City and their ability to provide both a land planning and fiscal analysis, staff' asked HKGi to submit a proposal to prepare a master plan for the Rum River Commercial node. Enclosed is a copF of HKGi's proposal The cost to complete the master plan is $37,500. There is $81,000 under Misc. Consulting Services in the EDA Budget where this study could be funded. Approximately $43,500 would remain for misc. consulting services for the year 2004. The City Council will be reviewing the HKGi proposal on Tuesday, November 25, 2003. Staff will provide a verbal update at the meeting. Budget Line Item Name Changes: At the November EDA meeting, the authority directed staff to make changes to a few EDA budget line items. Staff discussed these line item name changes with the Finance Officer and she stated that the State Auditor has prescribed a standard chart of accounts for use in city budgeting and accounting that every city must follow for maintaining financial records and in preparing the budget. Although the EDA provided appropriate name change suggestions, staff is unable to implement such changes.