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2A <br />Ramsey County <br />Rice Creek Commons Goals and Metrics <br />Draft: June 9, 2015 <br />A. Return on Investment (ROI) 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 development of at least 1,700,000 square feet and <br />preferably over 2,000,000 square feet. Housing of 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 a <br />10% annual return on the amount of investment not repaid (i.e. if $10 million not repaid in land sales,