Agenda - Council - 07/25/2017 - Laserfiche WebLink

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MEMORANDUM OF UNDERSTANDING This Memorandum of Understanding ("MOU") is entered into between the City of Ramsey, Minnesota, a Minnesota municipal corporation, ("City"), Riverstone Development, LLC., a Minnesota limited liability company ("Riverstone Development"), and Hageman Holdings, LLC, a Minnesota limited liability company ("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., loca e 'n the Armstrong -West Developable Area. Capstone Homes intends to develop a roughl : 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); and WHEREAS, a new 300-unit residential development located in the Armstrong -West Developable Area will benefit the City by providing quality new housing stock, a quality designed residential community, development fees, increased tax -base, and an increase in local consumer spending; 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, Arterial Infrastructure will not only directly serve the Armstrong -West Developable Area, but will also serve the City as a whole. The proposed Arterial Infrastructure includes City trunk water/sewer system lines, a Municipal -State -Aid (MSA) street, and a collector road; and WHEREAS, in order for Riverstone Development or the City of Ramsey to move forward with their development interests, a mutual understanding of how Arterial Infrastructure improvements will be designed, constructed, assessed, and paid for is needed; and WHEREAS, Riverstone Development has requested that the City fund the Arterial Infrastructure improvements and assess their portion of the Arterial Infrastructure improvements for Phase 1A and Phase 1B outlined in the Bolton & Menk Infrastructure Study. Page 1 of 3