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4. EDA BUSINESS <br />th <br />4.01: Consider Exchange of Parcel 45 for Part of Outlot A, Ramsey Town Center 13 <br />Addition <br /> <br />Economic Development Manager Sullivan presented the staff report. <br /> <br />Chairperson Steffen asked for details on what will occur in the red shaded area adjacent to the <br />pond. <br /> <br />Economic Development Manager Sullivan stated that the pond to the east will stay and this will <br />be an additional storm water management infiltration basin. He stated that right-of-way is being <br />acquired on the northern portion through this process that will be used for future VeteranÓs <br />Drive. <br /> <br />Community Development Director Gladhill stated that within The COR there has been a regional <br />stormwater approach. He noted that the pond was a portion of that regional capacity and this <br />will be another element, along with the future Lake Ramsey. He stated that the VeteranÓs Drive <br />extension is another element of the Highway 10 project that will be needed, as that will <br />eventually connect to Ramsey Boulevard as a right-in/right-out. <br /> <br />Chairperson Steffen asked and received confirmation that this land acquisition would not only <br />provide the necessary storm water treatment but also provide for the road extension. <br /> <br />Member Kuzma noted that this is a necessary acquisition as the City is under contract with the <br />Lower Rum River Water Management Organization (LRRWMO) to provide this treatment for <br />development that has already occurred. <br /> <br />Member Burandt asked if this is the only infiltration basin within The COR. <br /> <br />Community Development Director Gladhill confirmed that this is the only infiltration basin <br />within The COR, although there are other stormwater improvements. He stated that projects <br />have been approved and constructed, with developers paying into a fund to support this <br />improvement. He confirmed that the LRRWMO has provided an extension for the City to <br />construct this stormwater treatment improvement, so it is needed to support the current and <br />future development. <br /> <br />Member Riley stated that this is a good deal for the City as necessary stormwater treatment can <br />be provided, along with development on another currently City owned parcels. <br /> <br />Economic Development Manager Sullivan added that this infiltration basin and storm water <br />systems benefits all landowners in the COR including PSD, LLC. <br /> <br />Matt Kuker, PSD, stated that PSD has contributed to the fund that will help develop and manage <br />this storm water treatment system. He noted that at this time they will be building a shell <br />building without a current tenant on Parcel 45. He stated that when the Armstrong Blvd bridge <br />Economic Development Authority/ February 14, 2019 <br />Page 2 of 5 <br /> <br />