Agenda - Council Work Session - 02/26/2019 - Joint City Council & EDA

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First Priority Tactics Timeline Additional Resources & Tools Required Key Outcomes/Metrics (1) Business Retention & Expansion Ongoing Currently Sufficient: assuming moderate customer service demand levels, sufficient resources exist to complete this tactic as proposed. Complete 24 business visits annually. Execute EDA business expo, business appreciation golf tournament, and fall networking event. Participate in Anoka County Broker Event and MN Marketing Partnership. The large majority local economic growth comes from existing Ramsey businesses. The purpose of this goal is to develop and maintain positive relationships with existing Ramsey businesses (establish trust). This goal is implemented through quality customer service, businesses visits, and facilitating business events. (2) Restaurant Subsidy Policy 2018 Currently Sufficient: assuming moderate customer service demand levels, sufficient resources exist to complete this tactic as proposed. This policy may result in the need to create/ dedicate financial resources for incentives. New policy in place. Consider resurrecting, and potentially modifying, the City's former business full service restaurant policy. The purpose of said policy would be to develop tools/ resources to help encourage the construction of new full -service restaurants in Ramsey. Other options below: • Restaurant start up package contest • Restaurant incubator (3) COR Development Pro -Forma and Policy 2018 This work will require assistance from third party professionals: (A) infrastructure analysis-$30,000-$70,000 (B) regional stormwaterplan --$15,000-$30,000 (C) sign plan and cost estimates--$5,000-$25,000 (D) cut & fill analysis -- $5,000-$20,000 (E) parking ramp feasibility -- $5,000-$15,000 (F) community center analysis and plan -- $10,000-$20,000. At this point, the numbers outlined above a very preliminary. Staff would like to get quotes for EDA review. Staff anticipates various funding sources will be utilized to implement this work. Completed development pro - forma. The City of Ramsey has taken the role of master developer for The COR. From a development perspective, the list of City obligations (expenditures) for The COR is relatively long, and at this point not well-defined. Additionally, the list of revenue streams from The COR is relatively straight forward, but have been committed informally in several instances. Staff would like to develop a pro -forma for The COR outlining all anticipated expenses and all anticipated revenues for the project. This discussion also warrants the City to take policy positions on various items (i.e. expenses) and how they will be paid for (all city, all developer, split, etc.), and roughly when various improvements will be made. Completion of this pro -forma will put the City in a much better position to effectively analyze development proposals, strategize marketing efforts (i.e. pricing of land), budget discussions, and various policy items.