Sponsor: Community & Economic Development
Title
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Rice Creek Commons Annual Financial Report and Combined Project Budget
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Recommendation
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1. Accept the 2022 Rice Creek Commons Annual Financial Report.
2. Approve the 2023 Rice Creek Commons Combined Project Budget for infrastructure design services.
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Background and Rationale
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On November 27, 2012, by Resolution 2012-342, the Ramsey County Board approved the Joint Powers Agreement (JPA) 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 financial report and budget.
This request for board action is to submit the 2022 Annual Financial Report (Attachment 1) for revenues and expenditures related to the redevelopment of the Rice Creek Commons or ''RCC" site (formerly known as TCAAP) and to submit the 2023 RCC Combined Project Budget (Attachment 2) that is accounted for in three projects budgets: RCC Development account, RCC Land Acquisition and Remediation account and RCC Predevelopment account. The overall budget of $43,728,226 has not changed from 2022 to 2023.
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County Goals (Check those advanced by Action)
☐ Well-being ☐ Prosperity ☐ Opportunity ☒ Accountability
Racial Equity Impact
This action by itself does not have measurable racial equity impact as the action is part of the JDA annual reporting process. The racial equity impact of RCC should be considered during the development of the subsequent Master Development Agreement for the site.
Community Participation Level and Impact
Preparation of the RCC Annual Financial Report and Combined Project Budget should inform community participation and transparency in the development of the subsequent Master Development Agreement for this project.
☒ Inform ☐ Consult ☐ Involve ☐ Collaborate ☐ Empower
Fiscal Impact
This request for board action is to present the 2022 Annual Financial Report and 2023 combined Project Budget for infrastructure design. No additional funding is requested for the 2023 JDA administrative budget.
Last Previous Action
On April 05, 2022, the Ramsey County Board accepted the 2021 Rice Creek Commons annual report and approved the 2022 Rice Creek Commons combined project budget (Resolution B2022-092).
Attachments
1. Attachment 1: Rice Creek Commons 2022 Annual Financial Report
2. Attachment 2: Rice Creek Commons 2023 Combined Project Budget