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Staff would like to discuss two related funding options to fund a majority of the cleanup costs (88%). With the two <br />programs combined, the City would need to provide a local match of 13%. Total cleanup costs are estimated at <br />approximately $800,000 (planning level estimates only). Under this scenario, the City's local contribution would be <br />approximately $96,000. Staff would recommend that the City request these funds from the Anoka County Housing <br />and Redevelopment Authority (ACHRA). <br />The primary benefits are the removal of construction waste that was not properly disposed of in an approved <br />construction debris landfill, converting the site to a developable parcel. This must occur in any development <br />scenario. The costs of cleanup far exceed what a typical development pro -forma would be able to sustain. <br />Secondary benefits include, but are not limited to increasing tax base and providing a wider range of housing <br />options in the community. Due to the impacts of the property, very little taxes are generated on this parcel. <br />Additionally, after continued design review with the neighborhood over the past several years, Staff feels that the <br />current development proposal is generally compatible with the surrounding neighborhood, with continued <br />adjustments to be discussed at a later date. <br />Funding Source: <br />Under the proposed cost share proposal, <br />• 75%/$600,000 = Contamination Cleanup Grant (DEED). <br />• 13%/$104,000 = Tax Base Revitalization Account (Metropolitan Council) <br />• 12%/$96,000 = City of Ramsey (ACHRA Account) <br />Recommendation: <br />Based on discussion. Staff recommends that the construction debris be removed from the site in any scenario. <br />Furthermore, Staff believes that the current cost share proposal is reasonable, and the most feasible option on the <br />table. That being said, the City is not obligated to support the Applications nor provide a local match. Without <br />assistance, it is unlikely the project will move forward, and most development projects proposed will have little <br />success moving forward. <br />Action: <br />Motion to adopt Resolutions #19-101 and #19-102 approving grant applications and local match authorization <br />related to River Walk Village. <br />Attachments <br />Site Location Map <br />Plan Set <br />Resolution #19-101 Metropolitan Council <br />Resolution #19-102 Department of Employment and Economic Development <br />Debris Field <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich <br />Form Started By: Tim Gladhill Started On: 03/29/2019 11:23 AM <br />