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traditional bank financing component. Staff is comfortable with this selection and the City HRA loan is proposed <br />to be in second position, ahead of other funds with the real estate as collateral. Before issuing an HRA loan to <br />ARAA, a Credit memo will be provided by CorTrust Bank or others to ensure the repayment ability of the HRA <br />funds. <br />Notification: <br />N/A at this time. However, the Redevelopment Plan/business subsidy process will require public hearings and <br />proper notifications. <br />Time Frame/Observations/Alternatives: <br />Staff is asking the EDA to approve Resolution #26-129 Initiating Request for Anoka County Housing and <br />Redevelopment Authority Funding for Redevelopment Project <br />Funding Source: <br />ARAA - 10K Escrow to inititiate Redevelopment Plan Process <br />Ramsey HRA Dollars up to 2.3M (Loan, Admin, Legal) <br />Recommendation: <br />Staff Recommends adoption Resolution #26-129 Initiating Request for Anoka County Housing and <br />Redevelopment Authority Funding for Redevelopment Project <br />Outcome/Action: <br />Motion to Adopt Resolution #26-129 Initiating Request for Anoka County Housing and Redevelopment Authority <br />Funding for Redevelopment Project <br />Site Location Map <br />ACTION - Resolution #26-129 <br />Redevelopment Project Area Map <br />Ramsey - Draft Redevelopment Plan <br />ARAA Site Plan - Athletic Facility <br />Riverwalk - PSD Development Concept <br />Redevelopment Plan Schedule <br />Proposed Financing Structure - CorTrust <br />Preliminary Construction Costs <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 05/21/2026 12:09 PM <br />Form Started By: Sean Sullivan Started On: 05/14/2026 10:30 AM <br />Final Approval Date: 05/21/2026 <br />