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Councilmember LeTourneau introduced the following resolution and moved for its adoption: RESOLUTION #17-07-190 RESOLUTION APPROVING ASSESSMENT AGREEMENT FOR IMPROVEMENTS TO BUNKER LAKE BOULEVARD AND PUMA STREET: CASE OF RIVERSTONE DEVELOPMENT AND HAGEMAN HOLDINGS WHEREAS , over 300-acres of green-field land is available for development located northwest of the U.S. Highway 10 and Armstrong Boulevard interchange in the City of Ramsey, Minnesota (the “Armstrong-West Developable Area”); and WHEREAS, the City has an interest in pursuing the development of a new business park in the Armstrong-West Developable Area totaling 131.52 acres in gross size, located on three parcels currently owned by Hageman Holdings (PIDs: 20-32-25-34-0004, 29-32-25-21-0003, and 29-32-25-12-0003). A new business park can benefit the City by creating well-paying jobs, increasing tax-base, and increasing local consumer spending; and WHEREAS, Riverstone Development is under contract to purchase 84.77 acres of land currently owned by Pearson Properties of Ramsey, LLC., located in the Armstrong-West Developable Area. Riverstone Development intends to develop a roughly 298-unit single family residential development located on three parcels (PIDs: 29-32-25-22-0004, 20-32-25-33-0001, and 20-32-25-32-0001) (Riverstone Development Plat); and WHEREAS, the development of the Armstrong-West Developable Area will require various improvements to arterial infrastructure located along Bunker Lake Boulevard and Puma Street. Arterial infrastructure improvements include trunk-water line extensions, trunk-sewer line extensions, a sewer lift station, trail extensions, new roads, street lights, and storm sewer (“Arterial Infrastructure”). Bolton & Menk, Inc. completed a conceptual feasibility analysis for Arterial Infrastructure located in the Armstrong-West Developable Area in March 2017 (“Infrastructure Study”); and WHEREAS, Riverstone Development and Hageman Holdings both desire to have the City construct Arterial Infrastructure located on Bunker Lake Boulevard and Puma Street, as detailed in the attached Assessment Agreement; and, WHEREAS, Riverstone Development and Hageman Holdings both agree to the City specially assessing a portion of the costs to construct the proposed public improvements against their property, as detailed in the attached Assessment Agreement. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA: 1)That said Assessment Agreement is hereby approved allowing the City to assess both Riverstone Development and Hageman Holdings for a portion of the costs incurred by the City to construct Arterial Infrastructure located on Bunker Lake Boulevard and Puma Street.