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CONSIDERATIONS <br />- development fees (paid by developer): $4,838 parks, $1,090 trails, $6,131 trunk water, $3,391 trunk sewer, $4,577 <br />storm water management. <br />- tax base: about $34,375 in total annual property taxes (due to TIF 14, the City will collect roughly $282,000 from <br />this project for public improvements in The COR over the next 22 years). <br />- medical use customers (drive traffic to The COR) <br />- helps provide momentum in Ramsey's goal for a medical office park on the east end of The COR <br />- reasonable sale price ($230,0000, less CBRE and CRE commissions* and closing fees, will result in little land <br />proceeds --about $205,000 for the City) <br />Alternatives <br />The City Council may approve, modify, or reject this proposed Purchase Agreement. Discussion of the price for the <br />property can occur in closed session. <br />Funding Source: <br />NA <br />Recommendation: <br />NA <br />Action: <br />PURPOSE (Planning Commission) <br />Consider the proposed use and site location. Provide preliminary feedback to the City Council from a land use <br />perspective. <br />NOTE: this project has not begun the formal City site plan and plat review process --therefore, no formal site <br />layouts/ visual renderings exist. Attached is reference data and the proposed site, provided by the developer. <br />If the attached purchase agreement is approved, the developer will begin the formal City site plan and plat <br />review process. It is customary for the Planning Commission to review proposed projects before the City <br />enters into a purchase agreement for the sale of City owned land. <br />Attachments <br />CBRE Listing Parcel 50 <br />OGA MEMO 1 <br />OGA MEMO 2 <br />OGA PA 07292016 <br />OGA Site Options <br />COR Master Plan <br />POLICY FOR THE SALE OF CITY OWNED LAND 04032015 <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich JoAnn Shaw 08/01/2016 03:54 PM <br />Form Started By: Patrick Brama Started On: 08/01/2016 01:28 PM <br />Final Approval Date: 08/01/2016 <br />