Agenda - Council - 02/08/2005 - Laserfiche WebLink

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Ms. Badinger stressed the importance of proceeding with the bidding in the spring. City Administrator Norman indicated the motion to be included on the next Council meeting will include authorization for staff t° make a formal request of the EDA to initiate the bonding process of a lease revenue bond. Mr. Drama discussed rates and bonding alternatives for the Municipal Center project. Councilmember Elvig Stressed the importance of the revenue staying in line with the bonding. 2) RTC TIF Special Legislation City Administrator Norman stated as the City and Ramsey Town Center (RTC) complete the amendment to the Master Development Agreement, it is time to begin discussion on development within the core of the Town:Center. Staff would like to discuss with the Council the second parking structure, sometimes referred to as the Excelsior-Grand. The project would potentially include retail on the first floor and up to three floors of residential development from the structure parking. In order to make the project more feasible, staff believes that the City can seek special Tax Increment Financing (TIF) Legislation. A lobbyist, Bonnie Balach, specializing in TIF Special Legislation has been contacted and is willing to work with legislation for the City. He has also met with Representatives Abeler and Jungbauer to determine if they would be willing to be the chief representatives of this legislation. He would like to put this on the agenda of the next Council meeting. The consensus of the Council was to direct staff to schedule an agenda item on the next Council meeting to authorize a contract with a lobbyist to facilitate special T~ legislation for the project relating to the second parking strUcture of Town Center. City Administrator Norman indicated under the current amendments to the Master Development RTC retains ownership of the Property surrounding the strUctured parking. Because Agreement, of the necessity to work cooperatively with the City for TIF and the need to indicate the development with the strUcture .Parking, staff would like the Council to consider entering into discussions with RTC to seek an option agreement. Direction is not needed on this tonight. Councilmember Elvig inquired when application for federal grants will begin. City Adlninistrator Norman replied an update will be received by the delegation going to Washington D.C. The consensus of the Council was to authorize staff to schedule an agenda item regarding the City entering into an option agreement with RTC for the property surrounding the structured parking in Town Center. City Council :Work Session/January 19, 2005 'Page 4 of 8