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CBRE <br />COMMERCIAL REAL ESTATE SERVICES <br />MEMO <br />Date: November 6, 2017 <br />Pat Brama-City of Ramsey Community <br />To: Development Director <br />From: Brian Pankratz, CBRE <br />Oppidan Purchase of City of Ramsey Land - <br />Subject: Parcel 37 <br />cc: <br />Patrick <br />As part of the proposed Oppidan offer, I would support the sale of the approximate 4.14 <br />acres that consist of Parcel 37. The parcel's proposed use by a national auto body operator <br />is a good fit for the property subject to a zoning change. Oppidan is an active developer in <br />the Twin Cities with a variety of product types and a solid reputation. <br />The proposed use will help fill-in the Ramsey Blvd corridor and bring in clients located <br />in/out of the City of Ramsey. The development will improve Limonite Street for the subject <br />parcel and the remaining land controlled by the City of Ramsey through a cost share <br />agreement. <br />As part of the offer their a few items suggested to counter the buyer including the price but <br />overall think the proposed terms are fair. The new development will also bring new <br />employment to the City. By selling the land the property will go back on the tax rolls, create <br />fees from the new development, and bring additional traffic to the Ramsey retail corridor. <br />