Agenda - Council - 01/25/2005 - Laserfiche WebLink

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CASE # Receive Feasibility Studies and Set ~ate for Public Hearing on Ramsey Town Center Improvements By: Brian E. OlSon, Assistant Director of Public Works/Principal City Engineer Background: On September 17, 2003 the City Council agreed to the terms of the Master Development Agreement for the development of the Ramsey Town Center. Within the terms of this agreement, the City agreed to construct the Phase I roa~dways (Sunwood and Rhinestone), Phase II roadways (Civic Center Drive, Sapphire S~eet, Zeo~te Street and a portion of Town Center Drive North) and had provisions for the completion of the AUAR regional roadways and the structured parking facilities. The amendment to the Development Agreement that we have discussed over the past 9 months would set the amount for the :Participation by assessment of the Developer for each of the above mentioned projects. The ~urpose of this case is to receive the feasibility studies and set the date of the Public hearing for each of these improvements for February 8, 2005. At that meeting, we will give a presentation of each feasibility study and hold a public hearing for the improvement and then a separate hearin, g for the assessment to be levied. Below you will find a brief description of each project and their status. The majority of the information will be included in each respective feasibilitYstUdy. Phase I Roadways The feasibility study for this improvement was Presented at the public hearing that was held on April 27, 2004, at the request of the DevelOper. An assessment hearing was anticipated after the completion of the construction~ activity land was tentatively set for August 9, 2005. The construction of this Phase is anticipated to ;be completed by June 30th of this year. Included with this case is a copy of this feasibility study that Was considered at the public hearing. It should be noted that this will be modified slightly before the assessment hearing to more accurately reflect the amount to be assessed. Phase H Roadways The feasibility study will be distributed atthe meeting. The first phase of this project will include construction of Zeolite Street (between Sunwood and Civic Center Drive), Civic Center Drive (between Zeolite and Sapphire Street) and Sapphire Street (between Civic Center Drive and Sunwood Drive). A UAR Roadways The Master Development Agreement had language that provided a method to pay for the regional roadway improvements by establishing a special taxing district. By State law, a special taxing district is only allowed to be imPosed on commercial property. The original cost estimate prepared by Hakanson Anderson in August~ of 2003 was approximately $14,000,000. If this were to be spread over only the commercial property, it would amount to almost $3 per square foot, a