Minutes - Council Work Session - 01/18/2006 - Ramsey Town Center

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2007. The new study shows a more manageable tax rate aggression with two separate spikes in 2007 and in 2009, but a decrease in the year 2008 between the two spike periods. The study was used more for information purposes and would be used in the discussions for the 2007 budget. 2) Core Project Management The City Council had authorized Project Management Services with LSA Design during the Council meeting on December 13, 2005. As part of that action, the City Council directed that the first assignment to the new project management role is to complete the detail work of financing the services which may include establishment of a development district financing within the Town Center. Jim Lasher of LSA Design made a presentation in the work session and explained that the previously developed special taxing district had determined that the nature of using money collected from the "parking districts" would not be allowed. Mr. Lasher outlined three separate options including the parking monies from each project within the Core, or payment from other funds, or to establish a new taxing district that would encompass the Core Area. Mr. Lasher recommended the third option for establishment of a special taxing district. The City Council expressed concern and reluctance about pricing the commercial sales within the Core out of the range of market for potential developers. The City Council directed staff to develop a series of internal loans that would be paid when City projects are developed. Specific projects include the Cinema Project, the Community/Fitness Center Project, or Special Housing Projects over Retail in the Core. 3) West Commercial Plans Staff presented a short description of the west commercial area currently under the control of Shingobee. As Council was aware, Shingobee Development, dba Ramdance, has control of the west commercial area through an option agreement with RTC, LLC. During the earlier stages of Ramdance's proposal in late 2003, and early 2004, the vision of the City was captured in site plans and aerial perspectives. When Ramdance began working with the Cobom's project and made application for phase I, considerable concessions were made to the first phase while it was always assumed that phases II, III and IV would maintain the vision of buildings in close proximity along Sunwood Drive. In recent months, Ramdance has considered a number of proposals for development of Phase II, north of the Cobom's project. Staff believes that the project appears to be drifting apart from the original vision that the City maintained for the commercial portion of the Ramsey Town Center. After a brief review of the current proposals before staff, the Council agreed that the Ramsey Town Center should not be another "Riverdale". Staff received enough direction from the Council to continue the dialog with Ramdance. Town Center Work Session/January 18, 2006 Page 2 of 3