02-05-24 JDA - Laserfiche WebLink

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Commissioner Frethem reported Ryan Companies was very excited about this project and noted there were legal hoops in place. She indicated she did not have any concerns with the proposed project timeline. She hoped the project timeline would create momentum to move the entire project forward. Commissioner Monson explained the $12.7 million would be paid to the County in February to May of 2025. She asked when the bonding money would be made available to the County. Ms. Mitchell reported decisions on this funding would be made in the next six months. Commissioner Monson stated it appears the County won’t have a problem getting the bonding because the County would have a match. She requested further information regarding the development agreement. Ms. Mitchell reported the JDA would have to approve a development agreement for Outlot A. Commissioner Monson questioned if there had been interest in Outlot A. Ms. Mitchell stated it was her understanding there has been interest, noting the location was a great selling point. She indicated the key would be to hold out for a high-quality tenant. Chair Wicklund inquired what the energy goals were for this parcel. Ms. Mitchell explained the JDA is was just starting work with the energy consultant and noted Ryan Companies has been made aware of the all-electric goal. She indicated the JDA could consider a carbon neutral goal as well. c. Update on Communications Ms. Mitchell stated Goff Public worked with Ramsey County, Arden Hills and Ryan Companies to announce the purchase and sale agreement for Outlot A, approved by the Ramsey County Board of Commissioners on January 16. Communications tactics included a media advisory, press release, county and city social media channels, the Rice Creek Commons e-newsletter, and updates to the Rice Creek Commons microsite, including a revised Outlot A webpage. Goff Public also worked with Ramsey County and the Joint Development Authority on reactive messaging for the updated Alatus term sheet approved in December. Nine people submitted inquiries through the microsite contact portal, which Ramsey County staff responded to directly. Topics included trails, commercial use, schools, safety, traffic and multiple people interested in future housing units. d. Review Road Map Ms. Mitchell reviewed the road map in detail with the Commission. She reported no changes had been made since last month. Chair Wicklund stated there were five meetings on the calendar for the JDA for 2024. He noted the end goal for 2024 was to have a development agreement in place.