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City of <br />RAMSEY <br />August 10, 2021 <br />Anoka County Administration <br />Rhonda Sivarajah, County Administrator <br />2100 3rd Avenue, STE 700 <br />Anoka, MN 55303 <br />County Administrator Sivarajah, <br />7550 Sunwood Drive NW • Ramsey, MN 55303 <br />City Hall: 763.427.1410 • Fax: 763.427.5543 <br />www.cityoframsey.com <br />Thank you for the opportunity to provide additional information about the TIF 18 (Oppidan <br />Industrial). This is an exciting project for the City of Ramsey and the region. The project <br />consists of three industrial buildings to be built in two phases. I have attached a site location <br />map and site plan depicting the proposed layout of the three buildings and their sizes. I have <br />included a list of relevant project benefits below. <br />Project Benefits Summary <br />• 100-150 new jobs for the City of Ramsey. At least 100 of the new jobs are anticipated to <br />be created paying a minimum wage of at least $17.50 per hour excluding benefits. <br />• Opportunity for employment for Ramsey and Anoka County Residents. <br />• Payment of required outstanding 2011 and 2017 special assessments for the extension of <br />Bunker Lake Boulevard and City Utilities (Bunker Lake Business Park / Puma <br />Street) attributable to the developed parcel will be made at time of proposed property <br />closing in September 2021. <br />• 42.7 Million Dollar private sector project investment. <br />• $1 M in annual property taxes after project is completed. The newly created local tax <br />revenue will be captured by the TIF District 18 for 9 years. <br />• The proposed 405,000 square foot manufacturing buildings are high -quality and market <br />relevant. This industrial complex will be the largest in Ramsey and be a significant <br />investment for the City's new Bunker Lake Industrial Park. <br />• The proposed funding sources for the subsidy request would be from a newly created TIF <br />District 18. Meaning, this subsidy will not have a direct impact on the existing general <br />tax levy and Ramsey taxpayers. Also, like any TIF project, the existing tax base remains <br />in place, 100%. <br />"00' <br />T <br />It is our mission to work together to responsibly grow our community, <br />and to provide quality, cost-effective, and efficient government services. <br />