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WHEREAS, the City applied for and received a grant award of $612,000 from the <br /> MnDOT Local Partnership Program (LPP) which can only be used for construction costs for <br /> Riverdale Drive (not for tree preservation); and <br /> WHEREAS, the City has identified the ACHRA Fund as a viable source for city <br /> contribution costs associated with the construction of Riverdale Drive (not for tree preservation); <br /> and <br /> WHEREAS, the City has been unsuccessful in obtaining additional funding for Riverdale <br /> Drive and preservation of 7 Acres of Forest. <br /> NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> 1. That the Ramsey City Council hereby approves a revised Cost Share Framework for the <br /> construction of Riverdale Drive and Riverstone South attached hereto as Exhibit A <br /> generally as follows: <br /> a. Riverdale Drive — Developer and Property Owner's contribution towards the <br /> Riverdale Drive Extension Project is currently estimated at$3 5 2,75 7 for each party <br /> before a private assessment agreement allocation; subject to change based on final <br /> construction costs and associated lineal footage. <br /> i. Detailed Cost Share Framework, including the private assessment <br /> agreement allocation agreed to by the developer and land owner is outlined <br /> on Exhibit A. <br /> b. Tree Preservation—Developer shall convey a 7 acre parcel to preserve a portion of <br /> the existing forest as indicated on the Preliminary Plat. <br /> i. The City will work credit $350,000 towards Capstone's contribution to <br /> Riverdale Drive in exchange for this conveyance. (ACHRA - $23 g,875 and <br /> PIR $110,125); subject to change based on final construction costs and <br /> associated lineal footage <br /> ii. The City continues to not support an additional credit to Park Dedication <br /> Fees to fund this $350,000 tree preservation expenditure. <br /> 2. That the Ramsey City Council hereby approves a funding request to the Anoka County <br /> Housing and Redevelopment Authority in the amount of$950,000 towards the City's <br /> contribution to Riverdale Drive Construction Project. <br /> 3. That the Ramsey City hereby approves the use of the PIR Fund to fund a portion of the <br /> tree preservation credit in an amount not to exceed $150,000. <br /> 4. The City council Agrees that a city contribution to a collector road has broader public <br /> benefit and that the revised cost share framework attached hereto as Exhibit A is close to <br /> the (non-binding) framework approved by the City Council on January 26, 2021. <br /> RESOLUTION#21-185 <br /> Page 2 of 4 <br />