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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 />Paxmar Purchase of City of Ramsey Land - <br />Subject: Parcel 13 <br />cc: <br />Patrick <br />As part of the proposed Paxmar North Fork Meadows development, I would support the <br />sale of the approximate 2.89 acres remaining of Parcel 13. The parcel was originally just <br />under 5 acres with Capstone taking a portion of the site for their development and the <br />Puma Street realignment also taking a portion. <br />The North Fork Meadows residential development will provide home buyers purchase <br />options for their new home in Ramsey. The development will help finish off the Puma Street <br />improvements/corridor. <br />The proposed purchase price of $25,000 per acre is the same that Capstone is purchasing <br />their portion for and expect to close on next summer. By selling the land the property will <br />go back on the tax rolls, create fees from the new development including park dedication <br />fees that would benefit the proposed park on the north side of Alpine. <br />