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• <br /> EN HILLS <br /> MEMORANDUM <br /> DATE: August 1, 2012 EDC Agenda Item 4.A <br /> TO: Economic Development Commission Chair and Commissioners <br /> FROM: Jill Hutmacher, Community Development Director Of <br /> SUBJECT: TCAAP Update <br /> Background <br /> In 2010, the Minnesota Vikings expressed an interest in constructing a new stadium at the <br /> TCAAP site in Arden Hills. On February 15, 2011, the Ramsey County Board adopted <br /> Resolution 2011-075 declaring its interest in pursuing the potential acquisition and remediation <br /> of land and making public infrastructure improvements to allow for a stadium project on the <br /> • TCAAP site. As part of the due diligence, Ramsey County entered into negotiations with the <br /> General Services Administration (GSA) to acquire the site. On November 15, 2011, the Ramsey <br /> County Board approved an offer to purchase (OTP) 430 acres of the TCAAP site for$28.5 <br /> million, net of costs for demolition and environmental remediation. Although the Minnesota <br /> Vikings ultimately received legislative approval and funding for construction of a new stadium <br /> facility in Minneapolis, Ramsey County remains interested in the acquisition, remediation, and <br /> productive reuse of the TCAAP site to facilitate economic growth in the north metro. <br /> Ramsey County Acquisition of TCAAP <br /> In April 2011, the Ramsey County Board approved a fixed-price contract with Bolander and <br /> Sons in the amount of$20,660,000 for demolition of buildings and site remediation. The <br /> majority of the contract cost, approximately $15 million, is for building demolition. The <br /> remainder of the contract cost is for site remediation. The demolition of two buildings and <br /> removal of one concrete slab are necessary to accomplish the remediation, bringing the cost to <br /> remediate the site to a commercial/industrial standard to approximately $6 to $8 million. The <br /> Bolander contract has an option for the County to remediate the entire site to residential <br /> standards for an additional cost of$1,985,000. <br /> Based on the terms of the Bolander remediation/demolition contract and the estimated costs to <br /> relocate monitoring wells and associated water lines, Ramsey County has negotiated remediation <br /> • City of Arden Hills <br /> Economic Development Commission August 1, 2012 <br /> Page 1 of 2 <br />