04-02-18 JDA Agenda Packet - Laserfiche WebLink

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1 REQUEST FOR ACTION RAMSEY COUNTY BOARD OF COMMISSIONERS Requesting Department: Finance Department B2018-103 Committee: Board of Commissioners Meeting Date: 3/27/2018 SUBJECT : Rice Creek Commons Annual Financial Report and Combined Project Budge t REQUESTED ACTION 1. Accept the 2017 Rice Creek Commons Annual Financial Report. 2. Approve the 2018 Rice Creek Commons Combined Project Budget. 3. Authorize the County Manager to transfer $256,565 from the Capital Projects Fund Balance to the 2018 Rice Creek Commons Development Account for JDA-related consulting services and $400,000 from the Capital Projects Fund Balance to the Rice Creek Commons Pre - Development Account for infrastructure design services. 4. Authorize the County Manager to issue solicitations in accordance with the County’s Procurement policies and procedures, execute into contracts, and execute change orders and amendments to agreements provided the amounts are within the budget of the approved project. 5. Authorize the County Manager to make all necessary budget adjustments including increasing estimated revenues and appropriations for the Rice Creek Commons Combined Project. EXECUTIVE SUMMARY On November 27, 2012, by Resolution 2012-342, the County Board 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 JPA, the JDA is required to present to the County an annual financia l report and budget. This Request for Board Action is to submit the 2017 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 2018 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. Action is also requested to fund 2018 JDA expenses and infrastructure design services. FISCAL IMPACT This Request for Board Action is to present the 2017 Annual Financial Report and 2018 Combined Project Budget. The Joint Development Authority Administrative Budget (RCC Development Account) for 2018 and infrastructure design services (RCC Pre-Development Account) will be funded using Capital Projects Fund Balance. COUNTY MANAGER COMMENTS Under the Joint Powers Agreement, the Ramsey County Board is required to receive an annual financial report and budget for the project. Board action is required to approve project appropriations and fund transfers.