Agenda - Economic Development Authority - 06/04/2001

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CASE INDUSTRIAL DEVELOPMENT PROJECTS By: James E. Norman, City Administrator Observations: The City of Ramsey has been involved actively with industrial development through Tax Increment Financing (TIF) since 1994. Staff has prepared a map of the industrial development areas within in the City that has identified the areas that have received City incentive to build (map attached to case). Additionally, a certain degree of quality, industrial development that has taken place both prior to the City's involvement with consignment packages and deve. topment has taken place on its own. Examples of non-City assisted development include Mate Precision Tooling, the original ParaBody, Akron, and most recently Ace Solid Waste. The map also shows the non-assisted development projects. Recently, City staff and Economic Development Consultant Mike Mulrooney have been in discussions with various development prospects for various vacant properties, underutilized properties, and remaining land of City-acquired property. The development prospects will be discussed in the next section. Because this agenda topic remained unresolved during the May meeting, Staff discussed this item with the City Council during a work session on May 1.5, 2001. The Council gave direction to staff to make contact with property owners of parcels identified as #2 and #5 on the ~'Potential Development Sites in the City of Ramsey" map (see attached). Development Prospects: Recent discussions with potential development interests require policy direction. Staff will discuss with the EDA, the various business prospects and sites that the respective businesses are interested in developing.- Attached to. the case is a map describing the different potential development sites in Ramsey. Connexus Energ-y. Development Consultant Mulrooney has been contacted by a large, unnamed development interested in relocating to Ramsey. Representatives of Cormexus Energy has indicated the possibility of similar arrangements to the development of Energy Park. , Altron Property. A large undeveloped property is owned by Altron Incorporated. If the property is not developed within the next year, it will be difficult to receive adequate TIF revenues to cover the cost of land acquisition. Staff is aware of two interested prospects, each desiring to construct a 50,000 square foot, multi-tenant building. Danny's Tranny. The buyer of Danny's Tranny, St. Paul Terminals, has indicated interest in expanding to the east. St. Paul Terminal has begun negotiating with the three (3) separate owners o£the property east of Danny's Tranny. Gateway Industrial Park No. 5. Staff has been in contact with Communicor, currently located south of County Road #116 and immediately to the east of Unity Street.