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RE THE RESIDENTIAL AREA <br />Capstone Homes has indicated if they cannot come to a cost -share agreement with the city for <br />the arterial infrastructure/ collector road, they will not be able to move forward with their <br />proposed project, as it will price them out of the marketplace. Capstone Homes feels their <br />proposed contribution is above and beyond past practice in the City of Ramsey —and other cities <br />they have worked with. <br />Capstone has also made the point —that based on past practice, they should only be making a <br />contribution to the arterial road in which they have frontage —which is Puma. Capstone has <br />proposed to pay for 40% of Puma. However, additionally, Capstone is offering a 16% <br />contribution to Bunker Lake Boulevard (as requested by staff in the early negotiation process). <br />If Capstone combined their Bunker Lake Boulevard contribution with their Puma contribution, <br />and applied that total contribution only to their frontage on Puma, they are effectively making a <br />53% contribution. <br />Page 6 of 8 <br />