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Exhibit A <br /> 9-5-2000 <br />BMA Commercial / Retail Corridor <br /> <br />Background: <br /> <br />The City of Ramsey is contemplating building a commercial/retail corridor and <br />townhouse complex on the BMA Property. The BMA property is located on West <br />boundary of Ramsey Boulevard just north of US Highway 10. Retail, grocery, financial <br />and restaurant type businesses will be developed on 27 acres on the eastern portion of the <br />property just west of Ramsey Blvd. (County Rd. 56). The corridor will be modeled after a <br />combination of Champlin Marketplace and Champlin Southpond Center with an <br />additional financial institution/office building. 74 acres will be developed into medium <br />and high-density townhouses. The entire BMA property contains 160.11 acres, which <br />leaves sufficient space for storm water drainage, parks, trails and future development. <br /> <br />Assumptions: <br /> <br /> The commercial/retail development will be built on 19.5 acres on the West boundary of <br />imsey Boulevard just north of US Highway 10. Retail, grocery and restaurant <br />ldings will be built on the site. The square footage of the project will total 157,370 <br />SQ./FT. It will be assessed between $95-$106 per SQ./FT. Based on these figures and <br />current tax rates the taxes generated would be $650,000 per year. The city would receive <br />$136,647 per year in taxes. A 4-story financial/office building modeled after Village <br />Bank in Blaine will be built on a 4.2-acre site. The Assessed value of the project will <br />total $3,763,300 ($88.5 per SQ./FT.). The estimated City tax revenues for this project <br />are $33,165 per year. The townhouse complex will consist of 224 medium and 410 high- <br />density units. The market values of these townhouses will start at $140,000 and range up <br />to $200,000. The estimated City tax revenue for this phase of the project is $308,017 per <br />year. <br /> <br />Estimated Tax Revenues: <br /> <br /> Tax Source Rate Units '$ / Quarter Yearly Revenue <br />Tax Revenue (Town Hou'ses) 24% per year 1,580,670 (Tax Cap) N/A $308,017 <br /> Revenue (Bank/Office) Approx. 21% per year 134,524 (Tax Cap) N/A $33,165 <br />Revenue (Commercial) approx. 21% per year 621,1 80 (Tax Cap) N/A $136,647 <br />Yearly Totals $477,829 <br /> <br /> <br />