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<br />Printer version: Ramsey thinks big <br /> <br />Page 2 of3 <br /> <br />. Shopping, services, entertainment, recreation: There will be 700,000 square feet of retail along with <br />460,000 square feet of office space. The PACT charter school began classes last fall, and there will also <br />be medical service, an ice arena, a community center and a fitness center. <br /> <br />. <br /> <br />. Nature: Designers say they want to embrace nature throughout. There will be 26 acres for plazas, <br />parks, trails and open space. Gardens and gazebos will dot public spaces while community parks, <br />playgrounds and playing fields will mix into neighborhoods. Storm water will be managed through a <br />series of streams, ponds and fountains. <br /> <br />Why all this in Ramsey? <br /> <br />A market study by Thomas Consulting of Vancouver found $1.7 billion per year from Ramsey residents' <br />pockets is being spent outside the city. The Town Center is aimed at fulfilling more of residents' needs. <br />An estimated $200 million per year could be kept in Ramsey through the Town Center area. Already 75 <br />percent of the land contracts for the center are sold. <br /> <br />Ramsey's population of about 20,000 is expected to triple in the next 20 years. <br /> <br />Where is it going to be? <br /> <br />The development is on 332 acres of farmland on the south side of the city. Hwy. 10 is to the south, <br />Ramsey Boulevard is to the east, Industry Avenue is to the north and Armstrong Boulevard NW. is to <br />the west. <br /> <br />Who is paying for all this? <br /> <br />. <br /> <br />Ramsey Town Center LLC purchased the farmland for $31.5 million. The city is contributing $32 <br />million in support for infrastructure, roads and regional improvements and public facilities. <br /> <br />Most of the Town Center is not eligible for tax-increment fmancing, in which taxes generated by a <br />project pay offbonds. However, the $3.5 million in taxes that the project will generate each year will go <br />to the city's general fund. The general fund will then help pay for the Town Center. Because the <br />development will bring in such a large chunk of money each year, residents won't notice an increase in <br />taxes, according to the city. <br /> <br />The appraised market value ofthe complete Town Center is projected at $1.1 billion. The county will <br />help with $4.2 million for roads. In addition, there is money from the state, grants, assessments and <br />other tax-increment fmancing districts in the city. <br /> <br />Since 2002 the Met Council has awarded the Town Center project three Livable Community <br />Demonstration grants that total $3,373,756. <br /> <br />When is it going to be finished? <br /> <br />It should be complete in about six to eight years. <br /> <br />Contact the writer at 612-673-7512 <br /> <br />. or $mc.c.anl1@$tartriblllle...f;Jlll1- <br /> <br />http://www.startribune.comldynamic/story . php?template=print_a&story=529144 2 <br /> <br />3/16/2005 <br />