EDSR 01-30-1995 - Laserfiche WebLink

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• EDA's acquisition of raw business park property is a low priority. B. Public/Private Partnerships - Utilizing the estimated infrastructure costs from MSA Consulting Engineers, a better fit for the City/EDA may be that of underwriting a portion of these costs. One potential public/private partnership model is that of reducing the land developer's out-of-pocket costs associated with assessments for roads, water mains, sewer lines, etc. The assessments could be underwritten by certain public funds available through the City. These funds could be used by the developer to pay for the street costs, etc. - thereby reducing his assessments. As future lots in the business park are sold, the developer would be obligated to pay off the lot's remaining assessments and repay the City/EDA a per acre payment that is reflective of the City assistance attributable to that site. A nominal interest charge could also be attached to the City's share. City funds would not be used to help,underwrite the assessments attributable to lots that may end up with a commercial or a limited use. From the MSA estimates, it is possible to reasonably calculate the pro-rated share of infrastructure costs attributable to both Country Ridge and Bill Gagne: Country Ridge $868,382.42 (71%) Gagne $356,847.15 (29%) Total $1,225,229.57 Assuming the $430,000 in Refuse Derived Fuel(RDF) funds is available in the business park, those funds can be pro-rated to the respective land developers: 71% of$430,000 = $305,300 29% of$430,000 = $124,700 $430,000 By providing the RDF funds in a public/private partnership scenario, the City/EDA has accomplished two things: a.) the level of assessments incurred by Country Ridge and Gagne have been reduced, and, b.) the carrying costs on the assessments have been reduced.