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<br />LS ft <br /> <br />MEMORANDUM <br /> <br />DfSIGn <br /> <br />To: <br />From: <br />Project:. <br />Subject: <br />Date: <br /> <br />James E. Notman,City Administrator <br />James B. Lasher <br />Ramsey Crossings <br />Project Update <br />September 18, 2006 <br /> <br />The following is an update of various aspects of the progress on Ramsey Crossings to date. I have <br />also itemized some items that will need our immediate attention. <br /> <br />Exclusive Negotiations Agreement and 1 st Amendment <br />The Exclusive Negotiations Agreement has been fully executed. The 1 st Amendment, which deals with <br />specific city and developer contributIons to the proj ect are still in negotiations. I am still reviewing Muir's <br />revised Proforma to better understand the overall "deal" and to determine the best course of action to deal <br />with the $3.5 million shortfall as well as anticipated cost over-runs during land acquisition. Ihope to have <br />this resolved by the end of next week at which time I will be prepared to present options and a <br />recommendation to you at a team meeting. <br /> <br />Tax Increment District <br />LHB has completed their Final TIF Report for the Ramsey Crossings project and have delivered 8 copies <br />to me. I will distribute to you and various other staff and consultants this week. In summary, the <br />"Renewal and Renovation District" is supported by this report in accordance with and under Minnesota <br />Statutes, Section 469.174, Subdivision 1 Va. The City should take all action to move forward and create <br />the district and prepare a listofprojects to be funded from the proceeds. (Note: It is my opinion that TIF <br />proceeds should first go to land acquisition costs and then to supportable infrastructure but we should <br />discuss this.) I would like your approval to have Sean start work on preparation of the district and direct <br />Mary Ippel as necessary to move this effort forward. This work will be timed in such a way as to coincide <br />with final P~D and Development Agreement approvals for the project. <br /> <br />Land AcauisitionlEminent Domain <br />On August 25, 2006 and in a subsequent letter from the Courts dated on or about September 14, 2006, the <br />Anoka County Courts have approved the Public Purpose of the action and have appointed three - <br />Commissioners for the purpose of hearing testimony as to the value and award for the parcels in question. <br />The Courts have stipulated that this work be completed in no more than 270 days (approx. nine months <br />from September 14,2006 will be June 17,2006). <br /> <br />- Muir has currently executed Purchase Agreements with four out of the total of sixteen parcels. Muir's <br />Purchase Agreements stipulate that they be excluded from the Eminent Domain proceedings. <br />Subsequently, the Commissioners will only be reviewing the remaining twelve parcels. Muir has also <br />completed Purchase Agreements for all the remaining parcels that are ready to be sent out with our <br />approval. I have forwarded copies of the Purchase Agreements to Bill Goodrich for his review. <br /> <br />Planning I Architecture I Urban.Design I Landscape.Architecture <br />