Agenda - Council - 08/08/2023 - Laserfiche WebLink

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CENTRA. HOMES,. June 26, 2023 To: City of Ramsey Re: Executive Summary for Offer and Concept of 'Parcel 46' We are excited to present the City with an offer to purchase a portion of Parcel 46 for: • $ 640,000 for approximately 16.3 Acres that are planned to become a residential neighborhood, the Future Commercial corner is not part of this offer. We have made the following high-level changes and assumptions since our proposal submitted on May 1st: • This offer price contemplates the Developer contributing an additional $ 256,600 to the Ramsey Parkway construction costs as defined by City Staff AND constructing a trail from the edge of the residential neighborhood to the corner of Armstrong Blvd and Bunker Lake Blvd. Both of these costs are technically toff -site but we felt both of these options are beneficial to the overall site. • In review with the Consultant that completed the Wetland Review, the 'Historical' wetland as described in their report will be difficult to convince the Regulators to allow filling. Thus this plan substantially avoids these 'Historical' wetlands. • Centra commits to work with market connections for a potential end user for the future Commercial Corner as detailed in Concept #1, This Concept Plan shows only one idea of how this corner might develop, the end user and City Staff will ultimately decide how this area will develop. • If Centra is able to find an end use, a proposal will be brought forward to purchase and develop this corner. If no end user for commercial use can be found over the next two years, Centra will bring forward a proposal to develop this corner into additional residential homes as shown by Concept #2 submitted with this offer. • The housing plans (see included proposed Elevations) are similar to the homes built in the Cottages at the COR neighborhood at the corner of Bunker Lake and Ramsey Blvd_ These homes meet the Architectural Guidelines (COR4 Sub -District Framework) as described in 'The COR Design Framework' with Prominent Front Entrances, Walkways and Alley's in lieu of Driveways. • A more detailed narrative of the Concept Plans are provided in a separate document. We look forward to working with the City Stakeholders to bring forward this neighborhood.