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Hy-10 Ramsey (a few private purchase agreements, no sales) <br />Status Update - West Armstrong Redevelopment Parcels <br />Parcel 1 (No Action) <br />Parcel 1 was acquired by PSD in 2023. PSD demolished the building and is currently holding to potentially <br />combine with adjacent parcels if a project warrants it. <br />Parcel 2 (Potential Acquisition / Demolition) <br />Parcel 2 is the home of Lawn Monster. This parcel is one of three parcels with older, unimpressive buildings. <br />Lawn Monster has periodically looked for alternative locations but has not been able to find anything suitable. <br />The owner would be willing to talk to potential buyers but the property is not on the open market. Staff is <br />asking the EDA to consider acquiring, or providing demolition assistance if a redevelopment <br />opportunity presents itself, the price is reasonable and there is a willing seller. This parcel is in TIF 14 and TIF <br />could be used for demolition or acquisition to facilitate development. The estimated cost of demolition of this <br />building is $17,500. The ability to use TIF ends on November 28, 2026. <br />Parcel 3 (Potential Acquisition / Demolition) <br />Parcel 3 is owned by John Leukam and it is currently leased by a limousine company. This parcel is one of <br />three parcels with older, unimpressive buildings. This lease is coming up and the property could hit the <br />market soon. The owner is willing to talk to potential buyers but the property is not on the open market. <br />Staff is asking the EDA to consider acquiring, or providing demolition assistance if a redevelopment <br />opportunity presents itself, the prive is reasonable and there is a willing seller. This parcel is in TIF 14 <br />and TIF could be used for demolition or acquisition to facilitate development. The estimated cot to <br />demolish this building is $20,000. The ability to use TIF ends on November 28, 2026. <br />All Day Retail Concept - Development Interest (Parcel 4, 6 and 7) (Potential Demolition Assistance for Parcel <br />4) <br />Staff had been working with All Day Retail on a retail development concept for Parcel 4 and land owned by <br />National Growth (Parcel 6 and 7) as depicted on the Site Location Map. The development has evolved over time <br />and has varied from three to five buildings and acreages. Parcel 4 was identified as a potential acquisition by Staff <br />back in 2021 but now this parcel is still under contract with All Day Retail. However, All Day Retail has let the <br />Purchase agreement with National Growth terminate but based on the interest and visibility in this area, Staff is <br />not recommending consideration of land acquisitions in this area at this time. The Developer identified a lack of <br />a Right In Access off of Armstrong as a reason it could not develop the site but there could also be other factors. <br />Staff would be supportive of the provision of public assistance relating to the redevelopment and demolition of <br />Parcel 4 as a part of a larger development if a need is demonstrated by a future developer. The estimated cost for <br />demolition of the building on Parcel 4 is $13,000The ability to use TIF ends on November 28, 2026. <br />Parcel 5 (No Action) <br />Parcel 5 is vacant with no tenants or activity. A previous leaser that had trouble with code compliance has left the <br />site and it is much more presentable now. Staff believes this parcel will develop through private investment. <br />Staff is not recommending the city consider acquiring this property as there are no blighted buildings deterring <br />redevelopment. This parcel is in TIF 14 and TIF could be used for site improvements or acquisition to <br />facilitate development. The ability to use TIF ends on November 28, 2026. <br />Property Valuation Increases in West Armstrong Redevelopment Area (Summary) <br />Since 2021, Property values for the parcels identified have increased from $3,369,600 to $5,377,400 <br />($2,007,800). Attached to this case is a summary of Anoka County tax valuation changes since 2021 <br />and after the investment in Ferret Street extension / reconstruction for reference. <br />City Property Inventory (not including RALF) <br />Since 2021, the City has sold 12 properties in the COR and surrounding area totaling 39.20 acres. The sale of <br />these properties has added properties back to the tax rolls, strengthened TIF 14 and brought private <br />