05-17-17 JDA Agenda Packet - Laserfiche WebLink

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1 REQUEST FOR ACTION RAMSEY COUNTY BOARD OF COMMISSIONERS Requesting Department: Economic Growth and Community Investment Service Team B2017-41 Committee: Board of Commissioners Meeting Date: 3/7/2017 SUBJECT : Rice Creek Commons Annual Financial Report and Combined Project Budget REQUESTED ACTION 1. Accept the 2016 Rice Creek Commons Annual Financial Report. 2. Approve the 2017 Rice Creek Commons Combined Project Budget. 3. Authorize the County Manager to make all necessary budget adjustments includ ing increasing estimated revenues and appropriations for the Rice Creek Commons Combined Project. EXECUTIVE SUMMARY On November 27, 2012, by Resolution 2012-342, the Ramsey County Board of Commissioners approved the Joint Powers Agreement with the City of Arden Hills for redevelopment of the Twin Cities Army Ammunition Plant (TCAAP) site and authorized the establishment of the Joint Development Agency (JDA). Under the Joint Powers Agreement, the JDA is required to present to the County an annual financial report and budget. This Request for Board Action is to submit the 2016 Annual Financial Report (Attachment 2) for revenues and expenditures related to the redevelopment of the Rice Creek Commons or “RCC” site (formerly known as TCAAP) and to submit the 2017 RCC Combined Project Budget (Attachment 3) that is accounted for in three projects budgets: RCC Development account, RCC Land Acquisition and Remediation account, and RCC Pre-development account. FISCAL IMPACT This Request for Board Action is to present the 2016 Annual Financial Report and 2017 Combined Project Budget. No new or additional project funding is requested at this time. COUNTY MANAGER COMMENTS Under the Joint Powers Agreement, the Ramsey County Board is required to receive an ann ual financial report and budget for the RCC project. PREVIOUS ACTION On March 1, 2016, the County Boar d accepted the 2015 RCC Annual Report and approved the 2016 RCC Combined Project Budget. On September 8, 2015, the County Board amended the RCC Combined Project Budget to complete the County Road H improvements; authorized the amendment of the Capital Improvement Plan Budget; authorized the transfer of Solid Waste Funds to the RCC Land and Acquisition and Remediation Account; and authorized a transfer of Boys Totem Town Bond proceeds to the RCC Pre-Development Project Budget (Resolution B2015-285).