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Ramsey EDA Dashboard: 08/18/2015
<br />FUNDS & ACCOUNTS
<br />EDA Fund 795,000
<br />Utilized for project costs associated with EDA initiatives. Examples include
<br />property acquisition, site preparation, demolition, professional services, other.
<br />Revolving Loan 291,500
<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 994,034
<br />All purpose redevelopment and economic development dollars
<br />OMC redevelopment targeted ($200-$500K), Future Biz Park?
<br />Sub Total $ 2,080,534
<br />ASSETS (future land proceeds)
<br />Nordvick Property #45, 1.43 Acres (147th/Armstrong)
<br />Purchased for by City for $800,000, $600,000 from EDA fund. Listed for $10 p,sf ($622,908)
<br />Building demolition and site clean up, EDA Fund (23,550).
<br />Industrial Park Property #28, .95 Acres (Basalt/Bunker)
<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 />Purchased for by City for $XXXXX in XXXX. Proceeds will go back to TIF Account ttl
<br />Currently listed by CBRE for $450,000
<br />Former Bookstore Property #40, 1.23 Acres, Dolomite/Hwy 10
<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 />Purchased for by City for $XXXXX in XXXX. Proceeds will go back to XXXXXX.
<br />Currently listed by CBRE for $176,000
<br />ANNUAL EDA BUDGET
<br />$ 436,036
<br />61,950
<br />315,000
<br />150,500
<br />123,200
<br />Sub Total $ 1,086,686
<br />Miscellaneous Operating Supply 10,750
<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 45,000
<br />Primary fund to supplement EDA initiatives with professional services.
<br />Examples: site investigation, ED consulting, Financial consulting, site concepts.
<br />Marketing (starting in 2016) 3,500
<br />Sub Total $ 59,250
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