Laserfiche WebLink
commercial, retail, office, and civic uses; a station for the future Northstar Commuter Rail; and 25 acres <br />of new parkland upon completion. <br /> <br />Construction began on a new Municipal Center. It will contain City Hall offices as well as the Ramsey <br />Police Station. In addition, construction started on a 800-stall parking ramp. It will provide free parking <br />for users of the future Northstar Rail as well for those who will be utilizing the RTC's many amenities. <br />Both projects are expected to be completed in 2006. <br /> <br />The year 2005 brought the completion of a 40,000 square foot N.A.U. Insurance building, a 95,000 sq. ft. <br />commemial/retail building and a 60,000 sq. ft. Cobom's Grocery Store. In addition, phase I roadways, as <br />outlined in the master development agreement, were completed in and around the RTC project area. <br /> <br />The RTC project is expected to have a market valuation of $1.1 billion. At build out, the project is <br />expected to generate an additional $4 million in tax capacity annually to the City. Full build out of the <br />RTC site is expected by year 201 I. <br /> <br />CERTIFICATE OF ACHIEVEMENT <br /> <br />The Government Finance Officers Association of the United States and Canada (GFOA) awarded a <br />Certificate of Achievement for Excellence in Financial Reporting (CAEFR) to the City for its CAFR for <br />the year ended December 31, 2004. This was the ninth consecutive year the City has received this <br />prestigious award. Also, the City had previously received the award from 1981 through 1988, after <br />which the City did not participate in the program for several years. <br /> <br />The CAEFR is valid for a period of one year only. We believe our current CAFR continues to meet the <br />CAEFR Program's requirements and we are submitting it to the GFOA to determine its eligibility for <br />another certificate. <br /> <br />ACKNOWLEDGMENT <br /> <br />The 2005 CAFR of the City meets the highest professional standards and was prepared in a timely and <br />cost-effective manner. This could never have been accomplished without the excellent work of the entire <br />Finance Department. We would like to express our appreciation to the Finance Department and all <br />members of the City's staffwho contributed to its preparation. <br /> <br />Respectfully submitted, <br /> <br />es N [man <br />Ciff~.~inistrator <br /> <br />Diana Lund <br />Finance Officer <br /> <br />- vi - <br /> <br /> <br />