Agenda - Economic Development Authority - 09/03/2015

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Phase 3 1 R-2 Medium Density Residential 38.915 1,289 2 E-2 Employment District 28.612 958 4 R-1 MUSA 4.107 419 5 R-1 MUSA 30.508 683 Phase 3 Totals Not Included in Calculations 102.141 3,349 6 Public/Quasi-Public 86.422 Totals all Phases 274.064 3,488 10,474 The zoning classifications listed in the table above are based on anticipated future zoning for the study area. Gross areas and frontages are based on GIS information and will most likely be refined during subsequent phases of project development. Several of the parcels were previously assessed for improvements constructed in 2011. The improvements made previously were in direct benefit to parcel 6 to allow for development. Although development did not occur at that time, no further improvements will be required to serve that parcel. Parcel 6 was therefor excluded from calculations that follow. A portion of the improvements will be paid by the City either through utility funds or other means. A list of assumptions is as follows: • All trunk water and sanitary sewer system costs will be paid for through the City utility funds, • Assessments will be made to benefitting properties as each phase is constructed, • Three standard methods of assessments were analyzed including: Frontage, Area, and Per Lot. • The City's existing assessment policy very closely matches the Frontage method, and • Gross acreage was used in lieu of net developable acreage in the calculations below. The table below depicts a distribution based on all costs being assessed to the benefitting properties. We have assumed for this analysis the costs would be assessed to properties benefitting from each phase of construction. For instance, properties directly benefitting from Phase 1 improvements would be assessed for Phase 1 costs at the time of Phase 1 improvements. Some lots benefit from more than one phase of construction and would be assessed as future phases are constructed. Calculations were based on the areas and front footages (shown on page 12), along with the costs per phase (shown on page 10). Trunk sanitary sewer and trunk watermain were considered City costs and were not included in the calculations. For comparison, a summary of the unit costs used in the calculations is presented below: Prepared by: Bolton & Menk, Inc. COST ALLOCATION ALTERNATIVES City of Ramsey — Future Business Park Page 13