Agenda - Economic Development Authority - 03/09/2017

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EXECUTIVE SUMMARY The City of Ramsey identified the need to prepare for the development of a new business park within the City. A large area of privately owned green-field space located on the north side of Trunk Highway 10, west of Armstrong Boulevard, was identified for a future Ramsey Business Park. A report was prepared in late 2015 and early 2016 which reviewed traffic impacts and outlined infrastructure needs related to business park area. Development pressures have resulted in proposed land use changes for a portion of the study area. Phasing of the development activities in this area is also different than previously anticipated. As a result,the City requested an update to the previous analysis. This update primarily includes a study of traffic impacts resulting from the revised anticipated land uses in the business park. The updated analysis indicates the required improvements within the study area can be implemented based on the phasing plan currently proposed. Each series of improvements for Bunker Lake Boulevard and Puma Street can be implemented as the properties immediately adjacent to the roadways are developed. Future improvements required to serve the area include: • Expansion of Bunker Lake Boulevard (west of Armstrong Boulevard)to a four lane section, • Expansion of the west end of Bunker Lake Boulevard and Puma Street to three lane sections, • Construction of right turn lanes at entrances, • Extension of an 18-inch sanitary sewer line along Bunker Lake Boulevard and Puma Street, • North of the Puma Street/Bunker Lake Boulevard intersection, construction of a lift station, • North of the lift station, extension of a 12-inch sanitary sewer gravity main, • Extension of a 16-inch water main along Bunker Lake Boulevard and Puma Street, • Use of regional rate control basins to maintaining existing flow rates into the COR, • Installation of street lighting, trails/sidewalks, and landscaping consistent with City Policy, and • Obtaining of ROW required for improvements during the platting process. Total costs for all public improvements are approximately$6,819,000, assuming the project is constructed according to the phases described in this report.The costs are considered project costs and include 30%contingencies and project development costs (administrative, engineering, and fiscal). Costs related to trunk sanitary sewer and trunk watermain were assumed to be paid from City utility funds.The City will need to develop a funding strategy for the remaining $5,419,000 in public improvement costs. The information presented in this report is intended to allow for discussions with property owners and developers, as well as allow the City to begin considering funding options. Prepared by:Bolton&Menk,Inc. Future Business Park—City of Ramsey Page 1