Agenda - Economic Development Authority - 08/09/2004

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CASE # CITY OF RAMSEY EDA: A YEAR IN REVIEW Sean M. Sullivan, Economic Development / TIF Specialist and Megan Wald, Associate Planner Background: The year 2004 has been a busy and accomplishing year for the EDA. Many redevelopment projects were completed and initiated, business communication projects continued and improved, and new programs instigated. The purpose of this case is to review projects and topics the EDA discussed and took action on during the past yehr and frame a work plan for the year 2005. It is staff's opinion that this is a good time in the year to reflect on past projects, receive input, and formulate direction fbr the remainder of the year and especially for 2005. Observations: City Staff has. been given clear direction from the EDA in regards to development and redevelopment in the City of Ramsey. The major Area of interest of the Ramsey EDA is the Critical Blight Redevelopment Area (See Map). Staff has been directed to negotiate sales development and redevelopment in this area when opportunities present themselves. The EDA's support in this area makes it possible to redevelop more blighted properties at a faster rate. Staff continues to negotiate sales and market the newly acquired properties to developers for quality development. The EDA has also been involved in trying to better communicate with cUrrent and prospective businesses through a marketing campaign and the creation of the Ramsey Business Connection. Tied to these is the recent partnership with QCTV to spotlight businesses within the community and to give them an opportunity to "speak out" about how they feel about the City of Ramsey. This newly opened dialogue between the City and businesses is encouraging and it should help staff better address the needs of businesses. It is clear that the EDA does have an important role in serving as a facilitator of action in both communication and redevelopment in the City. The EDA is unique due to the fact that it is able to acquire properties outside of TIF districts on short notice when opportunities present them selves. This was illustrated with the EDA assistance in the Alloy Recovery Site and it should continue for years to come. Below is a summary of economic development activities that have transpired in the past yea' that were assisted by the EDA. Critic'al Blight Redevelopment Area (CBRA): Acquisition, demolition and clean-up of Chies and Morrell Parcels- This action was recommended by the EDA and funds from the CDBG were used to help acquire the Morrell property. Development is occurring on the Chies property and City Staff is finalizing a deal with a cabinet company to build on the Morrell property this year. 10