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Ramsey EDA Dashboard: 01/01/2015
<br />FUNDS & ACCOUNTS
<br />EDA Fund
<br />$ 663,910.00
<br />Utilized for project costs associated with EDA initiatives. Examples include
<br />property acquisition, site preparation, demolition, professional services, other.
<br />Revolving Loan
<br />$ 280,724.00
<br />Fill financing gap between project costs and private debt financing
<br />Typically, low or even zero interest rate; entices recruitment and expansion in Ramsey.
<br />Anoka Country HRA
<br />$ 889,110.00
<br />All purpose redevelopment and economic development dollars
<br />889K balance 2013, 250K common bond obligation, OMC redevelopment targeted ($200- $500K)
<br />TIF Account #1
<br />$ 316,576.00
<br />Old TIF account can be utilized anywhere South of Bunker in Ramsey (public improvements only)
<br />$407,876 in account from Diamond Graphics property sale (less $91,300 connexus costs biz park)
<br />Sub Total
<br />$ 2,150,320.00
<br />ASSETS (future land proceeds)
<br />Nordvick Property #45, 1.43 Acres (147th /Armstrong)
<br />$ 436,035.60
<br />Purchased for by City for $800,000, $600,000 from EDA fund. Listed for $10 psf ($622,908)
<br />Building demolition and site clean up, EDA Fund (23,550).
<br />Industrial Park Property #28,.95 Acres (Basalt /Bunker)
<br />$ 68,250.00
<br />Purchased for by City for $211,200 in 2006, 11% of proceeds must payback CDBG County
<br />Currently listed by CBRE for $105,000
<br />Industrial Park Property #37, 4.14 Acres (Ramsey /Jasper)
<br />$ 315,000.00
<br />Purchased for by City for $XXXXX in XXXX. Proceeds will go back to TIF Account #1
<br />Currently listed by CBRE for $450,000
<br />Former Bookstore Property #40, 1.23 Acres, Dolomite /Hwy 10
<br />$ 150,500.00
<br />Purchased for by City for $XXXXX in XXXX. Proceeds are open to EDA use (w /Council approval)
<br />Currently listed by CBRE for $215, 000
<br />Former Amoco Station Property #08, 1.01 Acres, Hwy 47/142nd
<br />$ 123,200.00
<br />Purchased for by City for $XXXXX in XXXX. Proceeds will go back to XXXXXX.
<br />Currently listed by CBRE for $176,000
<br />Sub Total
<br />$ 1,092,985.60
<br />ANNUAL EDA BUDGET
<br />Miscellaneous Operating Supply $ 10,600.00
<br />Primary Fund for EDA events and miscellaneous costs. Examples
<br />Include expo, golf tournament, networking event, business of the years costs.
<br />Miscellaneous Professional Services $ 30,128.00
<br />Primary fund to supplement EDA initiatives with professional services.
<br />Examples: site investigation, ED consulting, Financial consulting, site concepts.
<br />Sub Total $ 40,728.00
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