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SECTION III: POLICY POSITIONS 1. PROPERTY OWNERSHIP POSITION: the business park should be privately owned. The City of Ramsey should not purchase any property or pursue an option -to -purchase agreement. This item can be reviewed in the future as market conditions dictate (potentially, in the future this option may be worth reconsidering). 2. ARTERIAL INFRASTRUCTURE, TIMING POSITION: infrastructure should be installed in phases, based on market demand. Do not install infrastructure based on anticipation of future development. Infrastructure should be installed contingent upon actual development demand, when a cost -benefit analysis favors such installations.* *NOTE: 25 acres of land in the future business park is ready for development today (parcel #8). When this 25 acres is purchased/ developed, the City should complete engineering for phase 2 and 3 arterial infrastructure. This action will allow the City to be ready to efficiently and effectively respond to a request for an extension of arterial infrastructure to additional business park parcels. This specific item will be reviewed by the Council in the future for detailed discussion. 3. ARTERIAL INFRASTRUCTURE, ASSESSMENT METHOD POSITION: the City will assess arterial infrastructure costs via the per -acre method by utilizing the Bolton & Menk Assessment Map and Base Data Report Dated February 18, 2016. *NOTE: per acre method should be based on the Bolton & Menk created map, which displays gross acreage minus known wetlands. As development occurs, actual wetland delineation will be needed, and may vary from the Bolton & Menk base map. 4. ARTERIAL INFRASTRUCTURE, COST ALLOCATION The Bolton & Menk Infrastructure Study outlines three separate phases of arterial public infrastructure. Listed below are cost allocation methods for each phase. POSITION: for phases 2 & 3, the City will share costs with property owners: 60% City of Ramsey and 40% property owner, POSITION: for phase 1, the cost share model shall take place as outlined below: a. For parcel #8, the City will pay all arterial public infrastructure costs. b. For parcel #9 and #10, the City will determine the appropriate cost share arrangement in the future.* *NOTE: several variables/ unknowns exist related to phase 1 arterial infrastructure that make it challenging to implement a specific policy today. Variables include timing of future development (5-20 years), actual realized development versus what is planned today (i.e. school site, retail sites, retail orientation, etc.), actual realized traffic counts (could be substantially lower than anticipated today), and various legal questions related to the assessment process. Economic Development Policy for the City of Ramsey's Future Business Park Page 2 of 3 File Location: gdrive>EDA>projects>armstrongbusinesspark, version 02/25/2016