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of Ramsey would not pay for any of that, what is less clear is arterial infrastructure collector <br /> roads, they would probably have to do some more digging to see what has been the practice in <br /> the past. He stated it was his understanding that those roads are typically City responsibility. He <br /> stated in this scenario they are extending those roads ahead of development and he did not know <br /> if they have done that in the past. <br /> Member Riley asked if they should be considering this as two different phases. He thought it <br /> made sense to push it a little further when they know another phase is waiting. <br /> Community Development Director Gladhill stated this does increase the cost of the project. <br /> What is unique here is that there is a specific phasing line. In this circumstance, they are only <br /> plating up to phase two which will give them a cleaner break. From a street maintenance <br /> perspective, they would prefer to do this all at once because then they do not have a sequential <br /> street maintenance program. <br /> Member Williams asked if the gross and net numbers are different because there are already <br /> contributions from the City for the extension. She wondered why they are not calculating that <br /> difference as part of the 60/40 split proposal. <br /> Economic Dev. Mgr/Assistant City Administrator Brama stated that is a perspective they can <br /> take on this project. Those dollars are preprogramed for those arterial trunk lines. This <br /> development along with any development pays trunk/sewer fees for every single development to <br /> help pay for that system. He stated to that point an argument could be made both ways that they <br /> are making a contribution through standard development fees just like any other developer <br /> would. <br /> Mr. Steve Bona, Capstone Homes, stated they are really excited for this project and feel it would <br /> be wonderful for the City and great for Capstone Home. He thought there may be more of a <br /> benefit to The COR then to the business park. He thought the business park would be an added <br /> bonus if they can pave the road on the south side adjacent along Puma along the west side of the <br /> business park but The COR needs rooftops and this project would provide that. He thought that <br /> was the biggest benefit they could provide to the City. They don't really have any frontage onto <br /> Bunker Lake Boulevard, it dead ends into their site but, if the road needs to be extended they <br /> would like to contribute to help that happen. They did come up with a dollar amount in order to <br /> assist that and then when it came to Puma,the 60/40 split, they looked at past practice, they have <br /> the business park on one side so it is not all residential. That seems to align with past practice <br /> and is why they included it that way in their proposal. <br /> Mr. Bona stated they are offering funds along Bunker Lake Boulevard, even without any <br /> frontage on it in order to pull it towards their property. Right now one of the things they are <br /> fighting in regards to residential is there is still quite a few bank owned properties out there in <br /> those areas and they can only pay for so much offsite improvements before they get into the <br /> neighborhood. The bank owned land in Elk River and Otsego is their competition as well as <br /> coming closer to the cities and they are building in both of those areas and they know what those <br /> values are and to be competitive on this property, it is very important that they watch the <br /> Economic Development Authority/March 9, 2017 <br /> Page 6 of 12 <br />