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<br />STATUS OF RALF PROPERTY ACQUISITION <br />By: Sean Sullivan, Economic Development Coordinator <br /> <br />Background: <br /> <br />CASE # 1 <br /> <br />In 2004, the City of Ramsey Officially mapped the Hwy 10 Corridor. This Official Map <br />identifies the area needed for the future expansion of US Hwy 10. The Official Map designation <br />allows the City to apply for monies from the Right of Way Acquisition Loan 'FUnd (RALF) to <br />acquire properties in the mapped area. The City's policy has been to acquire properties from <br />interested sellers and lease back c~rtain properties that are viable businesses. <br /> <br />Observations: <br /> <br />The City has been steadily acquiring properties along the US Highway 10 corridor. Attached is a <br />map and spreadsheet that outlines the status of the properties in the officially mapped area and a <br />color map will be distributed at the meeting. It is clear that there is significant interest by current <br />land owners to sell along Highway 10. The RALF fund has yearly allocations from the state and <br />a number of other communities in the Twin Cities Metropolitan Area apply for these finite funds. <br />Ramsey has done well in securing a fair amount of funds to assist in the right of way acquisition <br />and will continue to seek additional funding as negotiated sales terms are reached. <br /> <br />Funding Source: <br /> <br />Not Applicable <br /> <br />Recommendation: <br /> <br />None <br /> <br />EDA Action: <br /> <br />None <br /> <br />Reviewed by: <br />Community Development Director <br /> <br />EDA: 11.08.07 <br /> <br />10 <br />