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ECONOMIC DEVELOPMENT POLICY FOR THE CITY OF RAMSEY'S FUTURE BUSINESS PARK Adopted March 08, 2016 SECTION I: BACKGROUND 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 2013, available land for existing Ramsey businesses to expand, or for new businesses to locate in Ramsey, became scarce. As a result, the Ramsey EDA and City Council identified targeting 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 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 93 acres of land available for development by businesses. The future business park is one component (about 93 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 U.S. Highway 10/Armstrong Boulevard (CSAH 83) interchange. In the process of planning for the City's proposed future business park, the city completed an infrastructure analysis in 2015. The purpose of the infrastructure analysis was to identify costs associated with extending arterial infrastructure to the city's future business park area (and larger developable area). Additionally, the City completed an Economic Development Analysis in early 2016. The purpose of the Economic Development Analysis was to identify and evaluate Ramsey's competition, consider market conditions, establish property tax projections, generate a concept site map, identify ancillary economic benefits, and outline various policy alternatives. For more information on the City's future business park planning process or the two referenced reports (infrastructure study and economic development analysis), please contact the City of Ramsey's Administration Department, 763-427-1410, webmaster@cityoframsey.com. SECTION II: PURPOSE The purpose of this document is to formalize general policy positions on various development items related to the City's future business park (the "XXXXXXXXX" Business Park). This document will act as a guide for administering economic City development efforts, provide valuable information to investors as they consider development projects in Ramsey, and establish a base policy for elected officials. The City of Ramsey reserves the right to deviate from this policy as needed. Economic Development Policy for the City of Ramsey's Future Business Park Page 1 of 3 File Location: gdrive>EDA>projects>armstrongbusinesspark, version 02/25/2016