Agenda - Council Work Session - 02/21/2017 - Strategic Plan

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Tactics Timeline Additional Resources & Tools Required Key Outcomes/Metrics (4) Recruit new industry and major retail businesses to Fall 2017 Currently Sufficient: this tactic requires assistance from the City's real estate broker CBRE; and demand from the development market. In order to provide latitude on which method is selected to tackle this goal (several exist), staff is requesting an increase of the EDA marketing budget line item from $3,000 to $30,000 in 2017. Secure two new 30,000 square foot retail, and two new 30,000 square foot industrial facilities. This tactic fits within EDA objective 1. This tactic fits within the City's strategic plan and Council policy discussions. Ramsey (5) Sell Surplus City Owned Land Fall 2016 for shovel ready certifications Currently Sufficient: assuming moderate customer service demand levels, sufficient resources exist to complete this tactic as proposed. This work item does require use of third -party professional services (Shovel Ready Certifications and subsequent due -diligence). TIF #1 has been identified as a funding source for this work. Land sales are closed. Staff shall provide an annual overview. This tactic fits within EDA objective 1. This tactic fits within the City's strategic plan and Council policy discussions. The City owns a large inventory of surplus land available for development. Attain shovel ready status for all listed City owned property (including cut/fill estimations and identifying major costs for development —such as required extension of public infrastructure). (7) COR Development Pro -Forma and Policy Summer 2017 This work will require assistance from third party professionals: (A) infrastructure analysis for The COR--$20,000- $30,000. (B) regional stormwater plan for The COR-- $15,000-$30,000. (C) updated sign plan and cost estimates for The COR--$5,000-$15,000. At this point, the numbers outlined above a very preliminary. Staff would like to get quotes for EDA review. Staff anticipates various funding sources will be utilized to implement this work. Completed development pro - forma. The City of Ramsey has taken the role of master developer for The COR. From a development perspective, the list of City obligations (expenditures) for The COR is relatively long, and at this point not well-defined. Additionally, the list of revenue streams from The COR is relatively straight forward, but have been committed informally in several instances. Staff would like to develop a pro -forma for The COR outlining all anticipated expenses and all anticipated revenues for the project. NOTE: this work has been partially completed in the past in many different forms (i.e. Landform, Ehlers, City C.I.P., etc.). This discussion also warrants the City to take policy positions on various items (i.e. expenses) and how they will be paid for (all city, all developer, split, etc.), and roughly when various improvements will be made. Completion of this pro -forma will put the City in a much better position to effectively analyze development proposals, strategize marketing efforts (i.e. pricing of land), budget discussions, and various policy items.