Consider Approval of Process for Gap Assistance (Loan) for Anoka Ramsey Athletic Association Facility Project

The purpose of this case is to review a proposed schedule to provide financial assistance (loan) to Anoka Ramsey Athletic Association (ARAA) for construction of a 100,000 square foot athletic facility and to direct staff to start this process.

ARAA Project History
In February 2023, the Anoka Ramsey Athletic Association (ARAA) received site plan and plat approval to construct a sports dome structure at 14600 Ferret St. NW.  ARAA eventually withdrew their landuse application, and therefore, never constructed the dome.  Since that time, Ramsey staff have continued to work with representatives from ARAA as they sought out a new solution for an indoor sports facility to serve their organization.  ARAA has progressed through new plans to construct a facility at a different location within Ramsey.  The City Council met with ARAA at the January 13, 2026 work session and reached a consensus to provide up to 2.3M in financial assistance, primarily in the form of a low interest loan.  

Finance
After the January 13, 2026 meeting, Staff and ARAA have been working with Falcon Bank and Anoka County on a financing solution to complete the project.  ARAA is currently in the loan approval process and the financing gap the city is looking to fill is around1.3-1.5M which is much less than originally communicated.  A preliminary financing structure from January 16, 2026 has been attached for discussion purposes.  The final numbers and terms are subject to change but the previous consensus of the Council for upwards of 2.3M in assistance will be able to accommodate any foreseen changes for the City portion.

The City has explored the use of its Ramsey HRA dollars levied in Ramsey by Anoka County in the form of a loan.  In order to use the HRA funds the City must create a Redevelopment Plan for a designated area which allows the fund to be expended for eligible costs.  Taft Law has put together a schedule showing what this process and timing would look like. The County process to access the HRA funds is separate and will be worked into the schedule.  This process involves a simple resolution requesting the funds and an explanation of what the funds will be used for. Although ARAA does not have financing approval at this time, staff is asking the City Council to consider starting the City process to obtain the HRA funds and to start the creation of the Redevelopment Plan.  Staff is working with Taft Law on the boundaries of the Redevelopment Plan Area and hopes to include areas in addition to the ARAA project area such as the 167th Commercial and residential node.  The purpose of extending this area to include more area is to be able to reallocate the payments of the loan to additional HRA eligible expenses in the future.  At the time of this memo, proposed maps were not available but staff plans on sharing options at the work session.

N/A at this time. However, the Redevelopment Plan/business subsidy process will require public hearings.

Staff is looking for council consensus to start the process to create a Redevelopment Plan, adopt a resolution to request HRA funds from the County and to give Staff flexibility in the amount (1.3-2M), interest rate, term, and payment schedule of the City loan for the project to complete project financing.  All terms and conditions of the loan will ultimately need to be formally approved by City Council Action at a later date.

To be determined.  Staff could charge an application fee to ARAA or identify other eligible sources.