Agenda - Economic Development Authority - 09/14/2017

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(1) Bunker/ Puma Arterial Infrastructure Project: $3.68M (2) PSD Business Park, Internal Public Roadway: $250K (3) PSD Business Park, Spec Industrial Building: $234K (4) Adrenaline Sports Center Building: $250K (5) Stone Brook Children's Academy Public Roadway: $240K Funding of Projects (cit): (1) Bunker/ Puma Project: Trunk Sewer/Water Fund ($1.IM), TIF #1 ($900K), ACHRA ($1.7M)* (2) PSD Business Park, Internal Public Roadway: Ramsey EDA Fund ($250K) (3) PSD Business Park, Spec Industrial Building: TIF District #16 ($234K) (4) Adrenaline Sports Center Building. Ramsey EDA Fund ($250K) (5) Stone Brook Children's Academy Public Roadway: TIF District #14 ($240K) *roughly $1.2M returned back to the Ramsey EDA over time, from assessments. City Funding Sources (end of 17): TIF #1: $IM TIF #14: $600K TIF #16: $234K (paygo 9 yrs) ACHRA: $1.75M EDA Fund: $725K Recommendation: This case is administrative in nature. The city has reviewed multiple cases and has made multiple actions supporting this request. Now, that the overall project is moving forward (Capstone, PSD, etc.), staff would like to make a formal request to the ACHRA. Design for the remaining Bunker/ Puma work will occur over the winter. Construction is anticipated for spring/ summer 2018. Staff would like to complete this step (i.e. make sure our funding is in place) before we award a contract for the road construction. Action: Motion to recommend the City Council adopt: Resolution # 17-09-232 requesting the Anoka County Housing and Redevelopment Authority (ACHRA) allocate $1,750,000 for infrastructure costs associated with the City of Ramsey's new business park development. RES 17 09 232 Biz Park Background Assessment Agreement Attachments Form Review Inbox Reviewed By Date Kurt Ulrich Kathy Sclunitz 09/11/2017 09:24 AM Form Started By: Patrick Brama Started On: 09/07/2017 03:34 PM Final Approval Date: 09/11/2017