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Page 1 of 2 <br /> <br />DATE: April 13, 2015 <br /> <br />TO: Honorable Mayor and City Councilmembers <br />Patrick Klaers, City Administrator <br /> <br />FROM: Jill Hutmacher, Community Development Director <br /> <br />SUBJECT: Rice Creek Commons (TCAAP) – Fit Test Option 2 <br /> <br /> <br /> <br />Fit Test <br />Kimley-Horn has completed work on the second part of the Fit Test. A memo describing the <br />assumptions used for Option 2 as well as general recommendations is attached. During the Fit <br />Test, Ramsey County and Kimley-Horn consulted with Maxfield Research on residential market <br />trends. A letter summarizing Maxfield’s guidance is attached. Mark Ruff, Ehlers, has provided <br />a comparison of assessed tax values in Options 1 and 2. <br /> <br />Financial Analysis <br />Stacie Kvilvang, Ehlers, has updated the City financial model based on current cost estimates for <br />pre-development work, trunk utilities and storm water, and parks. A memo describing costs, <br />fees, and financing mechanisms and detailed spreadsheets are attached. <br /> <br />TCAAP Redevelopment Code <br />At the February 24, 2015, special work session, the Council made revisions to the draft TCAAP <br />Redevelopment Code (TRC). A clean copy of the draft TRC is attached as well as highlighted <br />pages where any change has been made. <br /> <br />Please note that a new Attachment 7 has been inserted which lists recommended color palettes <br />for all buildings. The color palettes are based on Sherwin Williams paints in the America’s <br />Heritage, Suburban Traditional, and Suburban Modern collections. <br /> <br />Attachments <br /> Memo – Michael Lamb (Kimley-Horn); April 13, 2015 <br /> Letter – Mary Bujold (Maxfield Research); April 9, 2015 <br /> Fit Test Option 2 Layouts <br /> Summary Comparison <br /> Comparison of Tax Values <br /> <br /> <br /> <br />MEMORANDUM <br />