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Asst. City Administrator/Economic Development Manager Brama noted that one of these parcels <br /> is the residential Capstone development and the other is the business park. He stated that there <br /> are benefits to both developments. He advised that the business park will bring in jobs and <br /> opportunities for people to live close to home as well as additional traffic that will be generated <br /> from the users, such as the many families that will use Adrenaline Sports. He noted that <br /> additional residents will also join Ramsey through the Capstone development. He noted that <br /> both uses will increase traffic and numbers in the City which will help to bring in additional <br /> retail/commercial uses in The COR. He noted that this is a unique situation in which the City is <br /> not developing infrastructure ahead of development, as was done in The COR, but is developing <br /> the infrastructure with the development of the Capstone residential development and business <br /> park. <br /> Motion by Councilmember LeTourneau, seconded by Councilmember Shryock, to adopt the <br /> Assessment Agreement between the City of Ramsey, Riverstone Development and Hageman <br /> Holdings; subject to final review and amendments by the City Attorney. <br /> Motion carried. Voting Yes: Mayor Strommen, Councilmembers LeTourneau, Shryock, Johns, <br /> Kuzma, Riley, and Williams. Voting No: None. <br /> 7.03: Consider Adoption of Resolution #17-07-182 Ordering Plans and Specifications for <br /> Improvement Project#17-10, Puma Street Utility Extensions <br /> City Engineer Westby reviewed the staff report and recommendation to adopt Resolution #17- <br /> 07-182 ordering plans and specifications for Improvement Project #17-10, Puma Street Utility <br /> Extensions which will support current and future development opportunities within the future <br /> business park area. <br /> Councilmember Riley stated that throughout this process he has stated that he would like to <br /> receive updates and noted that the last few cases have provided those updates as requested. He <br /> noted that everything has fallen into the timeline. <br /> Motion by Councilmember Johns, seconded by Councilmember LeTourneau, to Adopt <br /> Resolution #17-07-182 Ordering Plans and Specifications for Improvement Project #17-10, <br /> Puma Street Utility Extensions. <br /> Motion carried. Voting Yes: Mayor Strommen, Councilmembers Johns, LeTourneau, Kuzma, <br /> Riley, Shryock, and Williams. Voting No: None. <br /> 7.04: Consider Adoption of Resolution #17-07-179 Providing for the Issuance and Sale of <br /> $895,000 GO Street Reconstruction Bonds, Series 2017A, Pledging Special <br /> Assessments and Levying a Tax for the Payment Thereof <br /> Finance Director Lund reviewed the staff report and recommendation to adopt Resolution #17- <br /> 07-179 authorizing approval of the sale of$895,000 in GO Street Reconstruction Bonds, Series <br /> 2017A. She noted that the issuance of debt follows the direction that the City Council authorized <br /> as the funding mechanism for how road reconstruction projects would be funded. <br /> City Council/July 25,2017 <br /> Page 7 of 17 <br />