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CASE <br /> <br />CONSIDER FINANCING FOR <br />!RAMSEY TOWN CENTER REGIONAL IMPROVEMENTS <br />By: James E. Norman, City Administrator <br /> <br />Background: <br /> <br />One of the issues remaining from the completion of the Development Agreement with Ramsey <br />Town Center; [LC XVas the responsible parties to pay for the regional improvements surrounding <br />the Town Center project. Staff has been in discussions with Anoka County since the summer of <br />2002 and reeefitly received the first proposed draft of a Joint Powers Agreement (JPA) with <br />Anoka County ~attached). The draft JPA does not include the amount the County will participate <br />in the regional improvements. <br /> <br />Staff has also been in contact with representatives from the County's financial consultant group <br />of Oppenheim~' & iCompany Inc. and has discussed the possibility of using General Obligation <br />Variable Rate D~ emand Bonding for the project. Staff would like to discuss this concept with the <br />Finance Comn~ittee to begin explaining this process and how it could work. Ralph McGinley of <br />Oppenheimer Would be on hand to provide information on the financing concept. <br /> <br />Committee ACtion: <br /> <br />No action necessary, this item is for information only. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Finance Officer <br /> <br />FC: 02/24/04 <br /> <br /> <br />