Agenda - Economic Development Authority - 02/05/2015

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BACKGROUND (future business park): The City of Ramsey is home to hundreds of successful and growing businesses. Many of these businesses are located in the City's original "Business Parks" along Bunker Lake Boulevard, just north of U.S. Highway 10, east of Ramsey Boulevard. In recent years, available land for existing Ramsey businesses to expand, or for new businesses to locate in Ramsey, has become scarce. As a result, the Ramsey EDA and City Council have identified securing a new business park a priority. In the winter of 2013 -14, a new business park location was identified by the Ramsey Economic Development Authority (EDA), Planning Commission, and City Council. The newly proposed business park is located along Bunker Lake Boulevard, west of Armstrong Boulevard, on the north side of U.S. Highway 10; and will include nearly 100 acres of land available for development by businesses. The City is currently in the process amending its Comprehensive Plan and Zoning Ordinances to allow for the proposed business park. The proposed business park is, and will be, owned and operated by private developers, not the City of Ramsey. The City's vision statement reads, "Achieve economic vitality with strategic infrastructure investments through market - driven growth." This vision supports the City's exploration of bringing infrastructure improvements to this property in order to facilitate economic growth. The future business park is one component (about 92 acres) of a larger green -field area ready for development (about 350 acres). This larger area green -field area includes areas for single - family residential development (about 118 acres), medium - density residential (about 31 acres) and room for a future private school campus (about 90 acres). The City's future business park, and larger developable green -field area, will be served by the future U.S. Highway 10 /Armstrong Boulevard (CSAH 83) interchange. This interchange will begin construction in the spring of 2015 and is expected for completion in the spring of 2017. The City expects the construction of this major interchange to increase the demand for development of this green -field area; and the future Ramsey business park.