Agenda - Council - 10/27/2020 - Laserfiche WebLink

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Level of Overlapping Debt Taxing District Taxable Net Tax Capacity % in City Total G.O. Debt City's Share Anoka County I.S.D. No. 11 (Anoka - Hennepin) I.S.D. No. 728 (Elk River) Metropolitan Council $428,393,476 285,890,418 93, 894, 622 4,576,187,142 7.35% 9.88% 3.47% 0.69% $59, 945, 000 258, 745, 000 303, 850, 000 230,225,000 $4,408,475 25, 565, 558 10, 540, 557 1,585,099 City's Total Share of Overlapping Debt Relative Costs and Benefits of Alternative Uses of the Funds $42,099,689 There are no significant alternatives for funds designated for this project. The City purchased the new site for the public works facility in 2008 in anticipation of having a larger site that could accommodate a new facility, along with required storage for vehicles and other operational needs. The City is also dedicated other City funds to the project (approximately $10 million), to reduce the need for issuing bonds. Operating Costs of the Proposed Improvements The City doesn't anticipate any operational cost savings from the new facility as it will be larger than the existing buildings combined but expects efficiencies in operations from having all staff housed in one facility and having room on site for equipment and storage. Moving forward with a full-scale replacement facility will provide the space and functionality necessary to sustain public works operations for the next 30 to 50 years. Significant repairs to the new structure would not be necessary for several decades. In addition, new shelter for essential vehicles and equipment will reduce repair and replacement costs. The replacement facility will be a safer and healthier place for staff to work, with a thoughtful design that reduces exposures to toxins. City of Ramsey, MN Five -Year Capital Improvement Plan for Bond Issuance