4.1.
Economic Development Authority (EDA)
- Meeting Date:
- 03/05/2015
- Submitted For:
- Patrick Brama
- By:
- Patrick Brama, Administrative Services
Title:
Authorize Professional Services and Review Updates Related to the Future Ramsey Business Park
Purpose/Background:
PURPOSE:
BACKGROUND:
Attached to this case is background information on the (A) the future business park, (B) EDA direction related to the Future Business Park, and (C) the RFQ for professional services.
- Consider authorizing work outlined in the attached RFQ (also see Bolton & Menk proposal)
- Review Business Park Preliminary Analysis from Mike Mulrooney (effect of train tracks, business park target market)
- Review draft cost-share model agreement for professional services outlined in RFQ
BACKGROUND:
Attached to this case is background information on the (A) the future business park, (B) EDA direction related to the Future Business Park, and (C) the RFQ for professional services.
Scope of RFQ Services:
Completion of a traffic impact study, feasibility report, and preliminary design layout of infrastructure improvements associated with the City’s future business park. Improvements would be limited to (1) Bunker Lake Boulevard, between Armstrong Boulevard and Puma Street; and, (2) Puma Street, between Bunker Lake Boulevard and Alpine Drive; see Appendix of the attached RFQ for details.
Notification:
NA
Observations/Alternatives:
OUTSTANDING ITEMS:
(2) Are the two major benefiting property owners willing to share in the cost of the traffic impact study, feasibility report, and preliminary design layout of infrastructure improvements?
(1) Analyze effect of nearby train tracks on potential business park users. Identify who the "target market" is for the City's future business park. Will our target market conflict with the nearby train tracks? Will our target market have a demand for the proposed new future business park (i.e. confirm this location is market relevant)?
This work has been completed and is attached to this case. Mike Mulrooney will provide a presentation to the EDA.
(2) Are the two major benefiting property owners willing to share in the cost of the traffic impact study, feasibility report, and preliminary design layout of infrastructure improvements?
Attached to this case is a draft agreement developed by the City Attorney. Staff is currently reviewing this agreement with benefiting property owners. Amendments from the EDA are welcomed.
Funding Source:
The EDA may recall, the City sold a piece of property to Diamond Graphics in 2013. Land proceeds from that sale were deposited into a "TIF Account" (specifically, TIF Account #1). Land proceeds were $407,876. Since 2013, the City spent
$91,300 of TIF Account #1 dollars on burying Connexus electrical services in the future business park area. As a result, the EDA has a balance of $316,576 to work with. Staff recommends TIF Account #1 dollars be utilized for this work (and potentially future work on the business park). This strategy will allow the EDA's other (less restricted) funding sources to remain in play for future projects. Attached is the EDA budget dashboard.
$91,300 of TIF Account #1 dollars on burying Connexus electrical services in the future business park area. As a result, the EDA has a balance of $316,576 to work with. Staff recommends TIF Account #1 dollars be utilized for this work (and potentially future work on the business park). This strategy will allow the EDA's other (less restricted) funding sources to remain in play for future projects. Attached is the EDA budget dashboard.
Recommendation:
Authorize:
(1) Bolton and Menk to complete the work outlined in the attached proposal ($38,860 proposal price, TIF Account #1 Funding Source); and forward to the Council for final approval.
(2) Staff to finalize the attached cost share agreement with Hageman Holdings and Pearson Properties for work outlined in the attached proposal; and forward the Council for final approval.
(1) Bolton and Menk to complete the work outlined in the attached proposal ($38,860 proposal price, TIF Account #1 Funding Source); and forward to the Council for final approval.
(2) Staff to finalize the attached cost share agreement with Hageman Holdings and Pearson Properties for work outlined in the attached proposal; and forward the Council for final approval.
Action:
MOTION TO...
(1) Recommend the City Council Authorize Bolton & Menk to complete the work outlined in the attached feasibility study proposal($38,860 proposal price, TIF Account #1 Funding Source).
-and-
(2) Recommend the City Council adopt and execute the attached cost share agreement with Hageman Holdings and Pearson Properties for work outlined in the attached feasibility study proposal.
(1) Recommend the City Council Authorize Bolton & Menk to complete the work outlined in the attached feasibility study proposal($38,860 proposal price, TIF Account #1 Funding Source).
-and-
(2) Recommend the City Council adopt and execute the attached cost share agreement with Hageman Holdings and Pearson Properties for work outlined in the attached feasibility study proposal.
Attachments
- RFQ Response (Bolton and Menk)
- RFQ
- Draft Cost Share Agreement
- Preliminary Analysis (ACG)
- EDA Dashboard
- Background (Future Business Park)
- Background (EDA Direction)
- Background (RFQ)
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 02/27/2015 05:06 PM |
- Form Started By:
- Patrick Brama
- Started On:
- 02/26/2015 03:26 PM
- Final Approval Date:
- 02/27/2015