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Bench Copy - Distributed <br /> at the 06/15/15 Work Session <br /> Ramsey County <br /> Rice Creek Commons Goals and Metrics <br /> Draft: May 21, 2015 <br /> A. Return on Investment (R01) Generally <br /> Background.and Goal: The County will invest approximately$60 million in Rice Creek Commons(RCC) <br /> from 2013 through 2017. Direct repayment will begin when land sales commence in the next few years. <br /> The larger purpose is to enable private sector and other public investment to benefit the County as a <br /> whole through increased tax base,jobs,and housing choices,and new road,transit and energy <br /> infrastructure. <br /> Metrics: <br /> 1. Private sector investment approaching$1 billion resulting in new tax base 10 times the County's <br /> investment(assessor's estimated market value of at least$600 million). <br /> 2. Public investments through financing and grants from other public and philanthropic agencies <br /> including the City of Arden Hills,State of Minnesota,Metropolitan Council,foundations and <br /> non-profits at least equal to the investment by the County(an additional$60 million investment <br /> from other public/non-profit entities). <br /> How to Get There: Achieve goals listed below relating to development of office, manufacturing and <br /> retail space and housing and innovative public/private partnerships including energy resiliency,transit, <br /> and housing diversity. <br /> B. New Tax Revenues <br /> Background and Goals: New tax base means new revenues to meet local government needs. <br /> Metrics:Total new tax revenues for the County,City,and School District of at least$10,000,000 per year <br /> at full build-out, net of fiscal disparities contributions and state taxes. <br /> How to get there: Office/manufacturing/retail square footage of more than 2,000,000. Housing of <br /> approximately 1,600 units. <br /> C. Land Sales/Taxes <br /> Goal and Background: In order to achieve employment,energy sustainability,and housing diversity <br /> goals,the County may not recover 100%of its$60,000,000 investment. In situations where the County <br /> reduces land price for a particular development or goal,through annual tax revenue to County achieve <br />