Sponsor: Community & Economic Development
Title
title
Fund Transfer from Bond Interest to Park at RiversEdge
end
Recommendation
recommendation
Authorize the County Manager to transfer up to $1,200,000 from bond interest and premiums to the Park at RiversEdge project account for project activities.
end
Background and Rationale
body
The Park at RiversEdge is a key part of the county’s Building Stronger Together Plan to build a dynamic downtown through strategic investments. The project includes building a pedestrian land bridge which creates new, accessible access from downtown to the river. To accomplish that connection, a series of transmission towers needs to be relocated to make way for pedestrian access.
On April 14, 2026, the board approved a scoping estimate agreement with Xcel to start the transmission relocation project, removing an impediment to the overall project vision. That board action authorized a payment of just over $2 million to Xcel for engineering and an initial materials payment. With that payment, the project account needs to be replenished to allow progress to continue at an accelerated pace.
As discussed at the May 26, 2026 board workshop, near-term activities include hiring a design firm, paying for third party marketing for private development, and continuing work with the railroads. This action provides the necessary resources for things including but not limited to engineering, design, environmental and financial analyses, legal, community engagement, and communications that advance these critical path items.
end
County Goals (Check those advanced by Action)
☒ Well-being ☒ Prosperity ☒ Opportunity ☐ Accountability
Racial Equity Impact
RiversEdge is a major redevelopment project that will create jobs, provide new accessible connections through downtown, grow the tax base and become a hub of economic activity.
This investment advances the county’s Building Stronger Together plan and reflects Ramsey County’s commitment to addressing longstanding racial and economic disparities. By prioritizing inclusive economic growth, strengthening partnerships, and targeting investment where it is most needed, the county can help expand access to opportunity, support wealth-building, and ensure economic development benefits all residents including communities that have historically experienced disinvestment and exclusion.
Community Participation Level and Impact
This project is informed by years of shared community engagement and stated city and county goals. It reflects a collaboration with an array of stakeholders including Saint Paul, the Saint Paul Downtown Alliance, community organizations, and residents to strengthen downtown through safe, reliable infrastructure and inclusive economic growth.
Embedded in the community-driven vision of the Building Stronger Together plan, this project aligns with priorities identified through extensive community engagement and long-range planning efforts, including the Economic Competitiveness and Inclusion Plan, the All Abilities 2050 Transportation Plan, Climate Equity Action Plan, and Transportation Investment Plan.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
In coordination with the Finance Department, it is recommended that bond interest be utilized to fund this request. Adequate funding is available in the bond interest account.
Last Previous Action
On April 14, 2026, the Ramsey County Board of Commissioners approved the Agreement with Xcel Energy for Transmission Tower Relocation (Resolution B2026-111).
On February 6, 2024, the Ramsey County Board approved an Allocation of $1.8 million to the Park at RiversEdge as matching funds for a $6.22 million state appropriation (Resolution B2024-020).
On December 12, 2023, the Ramsey County Board accepted the funds and approved a Grant Agreement with the Metropolitan Council for $6.22 million (Resolution B2023-231).
On March 14, 2023, the Ramsey County Board approved Capital Improvement Program Budgeting Process Updates as needed to reflect the vision, mission, and goals of Ramsey County (Resolution B2023-043).
Attachments
None.