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LSA Design„ Ilrroc. <br />Ono F in<'incit t P.0) rs <br />'120 S. Sixth `itrcr+l <br />Suif,, '1700 <br />PAirrcrrpolic,, MIN 554,02 <br />T, 612.329.8722 <br />F. 6'1 23090/1032 <br />www.0r.;idersicyninc.c.orr, <br />i,ino <br />Arrbutectur <br />1rh.;n, Des icin <br />July 23, 2008 <br />Kurt Ulrich <br />City Administrator <br />City of Ramsey <br />Municipal Center <br />7550 Sunwood Drive <br />Ramsey, MN 55303 <br />RE: Consulting Services for Ramsey Town Center <br />Dear Kurt: <br />Based on our meeting of July 21, I have revised my original proposal into a Three <br />Phased approach. <br />PROJECT UNDERSTANDING & GOAL <br />Ramsey Town Center is currently stalled in a foreclosure action based on the <br />banks' inability to attract any potential buyers. Additionally, the project is <br />beginning to show signs of financial distress with selected parcels being late with <br />property tax payments and payments on assessments. <br />The Goal of this work will be to determine the best and most financially sound <br />approach to re -igniting Ramsey Town Center development. <br />PROJECT APPROACH AND SERVICES <br />PHASE ONE <br />1. Complete an assessment of all remaining properties with respect to: <br />current physical improvements, financial obligations (public and private), <br />ownership and title, assessments and taxes due and payable. <br />2. Prepare an analysis of the remaining land area and re -calculate potential <br />densities based on various development options including large format <br />retail, housing (rental, affordable, and owner occupied), revised parking <br />demands, park improvements and infrastructure requirements. <br />3. Review the Development Agreement and Amendment #1 and clearly <br />identify the opportunities to re -position the document to allow for a "market <br />driven" economic solution, including but not limited to assessments, park <br />requirements, storm water improvements and parking demand and <br />allocation. <br />4. Based on the results of the existing conditions assessment, land area <br />calculations and densities, and opportunities to re -consider the <br />Development Agreement, we will Preparation of a Plan of Finance to <br />purchase either all or portions of the RTC. This price will be based on a <br />preferred concept plan that itemizes costs of changes in roadway and land <br />geometry, public infrastructure modification and revised park <br />improvements. This work will also include detailed appraisals as this will <br />