Agenda - Economic Development Authority - 01/07/2016

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City of Ramsey Report Summary Blaine The City of Maine has numerous business park sites and scattered sites available for development. All sites are privately owned and are near 1-35 W. Site 1- Pheasant Ridge Industrial Park has 42 acres available for development. Property is available for lease, build to suit and build to lease. All utilities are available. Asking price is unknown. Site 2 —10201 Zylite St. has 19 gross acres of which 12.38 acres are considered upland. The asking price is $2,750,000. Site 3 — Blaine Preserve Business Park has a number of acres available for industrial development however the developer prefers a build to lease projects. Site 4 —109th and Lexington Ave. This site has 75 acres available for development. Improvements are available but will only be installed when development occurs. Site 5 — Naples St. and 35 W, this property is 39 acres in size of which 25 acres is developable the asking price is $1,433,500 or $65,344 per acre, Utilities are available to service the site but have not been installed. Site 6— 9859 and 9879 Naples St. the site is 12,1 acres in size. The asking price is unknown. All utilities are available. The property is owned by Niortenson Construction, Site 7 — 85'6 Ave and Highway 10. This site is owned by the Metropolitan Airports Commission and is 27 acres in size, Only 10 acres of the site are developable. The property has excellent access to Highway 10. utilities are available to the site. The property was recently put on the market for sale. The City of Blaine has had a history of not providing incentives for development. This strategy is about to change. The City recently hired a new director for economic development. Along with the hiring of staff has come a change in philosophy whereby tax increment financing and EDA assistance will be considered for highly valued projects. All sites included in this report are eligible for this type of assistance,