The Waterfront - Community Building Operations Forecast and Planning Status

Background
As part of the city's community park system planning, a water-centric park known as The Waterfront has been envisioned for more than a decade in Ramsey's downtown. In 2023, the mass grading for the park was completed as part of the preparation of pad-ready development of the entire northwest quadrant of The COR.  Presently, the city is Advertising for Bids for a trail that will circumnavigate the 7-acre pond and connect the park to the adjoining residential areas and larger community.  Throughout and during the last 10 years of planning for the park, city leaders have simultaneously heard a common refrain from many residents that they desire more family destinations, more restaurants, a 'splash pad' and a community center. These resident propositions have most recently coalesced as a proposed project that would address those aspirations.

Over the last year, the Park & Recreation Commission performed a detailed analysis of how a park building could best serve the community— this process resulted in a concept for an approximate 36,000 gross square foot two-story building, consisting of mass timber construction; and including dining, balcony, patio and beer garden, fitness, large indoor play area, and banquet space.  The proposed structure with indoor and outdoor program areas is essentially a modern community center, with outdoor water-play elements replacing a traditional public swimming pool.

Purpose
This work session is an opportunity for the Council to have a broad discussion on the value to the entire community The Waterfront project may represent—and, also to explore some of the operational considerations for the project as well as desired next steps. Essentially, the goal or outcome would be to inform staff on whether to 'pump the brakes' or 'step on the gas' so-to-speak, relative to the overall project.

If desired, and utilized by other cities, the city could place a question on the November General Election Ballot to gauge the public's interest.  General support of this project has been expressed through various avenues in the past, including the community survey.  A ballot question this year could generate a larger response rate on the project due to it being a presidential election year that will generate higher voter turnout.  Leading up to a ballot question, the city should prepare information on the project to include amenities and financial impact to the properties.  This could be shared through a webpage, social media, handouts at events and the Ramsey Resident.



 

A Public Hearing was conducted in December 2023 on the city-wide Capital Improvement Plan, and park improvements in Ramsey's downtown were identified as a proposed 2024 project.

Observations
As declared above, planning for The Waterfront has occurred over many years and with significant public input—and accordingly, the form, function, utility and scope of the concept plans for the community building and water play area are well-aligned to serve residents' needs. In light of this, and as the city nears the build-out of the Center of Ramsey, it is prudent to move forward with the project at this time—or, make a deliberate decision to pause the planning for a period of time, or to proceed with finite steps. For the work session discussion, Morrissey Hospitality will have representatives present to provide insights into the operations side of a venue that the concept plan represents. (Morrissey Hospitality provides management services for the city of Coon Rapid's Bunker Hills Activity Center as one example.)  Additionally, Greg Houck, Principal with the Architectural firm Cuningham, will be in attendance. Cuningham worked with the city to bring the ideas and goals for the community building into the present concept design. They also just completed a very similar project for the city of Minneapolis with the Bde Maka Ska rebuild on that city's lake front.

Timeframe
One hour is expected to be required to highlight the background and context of this project, and review operational aspects of community building. 

The capital cost for constructing the proposed community building and water play area is estimated at +/- $20M and the funding source(s) has not been specified at this time. However, around >$3M could be from the Park Trust Fund, which would approximate the development fees (Park Dedication) that have been received from private development projects within The COR in recent years, since the $3M construction of The Draw park & amphitheater.

The remaining balance of $17M would require the issuance of a bond.  Annual debt service on this amount over a 20-year term would be approximately $1.325M.  In the past, a lease revenue bond was referenced as an option. Unfortunately, that is not the case.  Staff is seeking input as to what bond would apply to this project.  In general, the bond would be required to be guaranteed by tax levy.  As part of the city's overall levy calculation, we would be able to budget for revenue from this site.  Staff will come to the meeting with more information on what this project could generate for revenue.

Staff requests the Council provide direction on the desired next steps for the proposed Waterfront project; which may include Schematic Design for the community building and water play area to determine probable construction costs, as well as organizing funding options for this prominent and valuable investment for the community.

Consensus direction on the scope and planning timeline for the build-out of The Waterfront project.