MOU: Arterial Infrastructure to Serve Ramsey's Future Business Park & Capstone Homes Development

PURPOSE
Consider the attached Memorandum of Understanding (MOU) proposal for funding and constructing arterial infrastructure improvements located on Bunker Lake Boulevard and Puma Street,  adjacent to the City's new business park. 


BACKGROUND & ALTERNATIVES
Please see attached documents.


GUESTS
Staff anticipates the individuals below to be in attendance at this meeting for this agenda item.  These individuals will be available to answer questions and provide additional background information if needed.

-Steve Bona of Capstone Homes
-Al Pearson of Pearson Farms
-John Dobbs, Pearson Farms Broker
-Jason Aarsvold of Ehlers
-Michael Altimari of Hageman Holdings
-Matt Kuker of PSD. 

NA

Please see attached "alternatives" document.
 

TBD

↵EDA
The EDA reviewed this case at their meetings on 03/09 and 04/13.  Below is a summary of EDA feedback:

• The EDA made several suggestions based on their original review on 03/09.  Those suggestions were outlined in a previous Council case.  All of said suggestions have been addressed and incorporated in the attached MOU.
• The EDA is generally supportive of the attached MOU, including use of EDA funding, and is generally supportive of this overall initiative.

COUNCIL
The Council reviewed this case on 03/28.  Attached are draft Council minutes. Below is a summary of preliminary Council feedback:

• The Council is generally supportive of the attached MOU, and the corresponding projects.
• The Council is generally open to considering the option of using EDA dollars for funding this project.  The Council does not want to bond for this project.

Motion to recommend the City Council:
Adopt the attached MOU between the City of Ramsey, Capstone Homes, and Hageman Holdings; subject to final review and amendments by the City Attorney.