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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of City Council <br /> FROM: Chris Heineman, City Administrator <br /> <br />DATE: September 26, 2018 <br /> <br />RE: Project Surf <br /> <br /> <br />At the City Council work session meeting on Wednesday, September 12th, the City Council <br />discussed a request for business assistance for a proposed economic development project in <br />Little Canada. In addition to relocating approximately 400 existing jobs to Little Canada, the <br />project is expected to create 160 net new positions over five years. The developer plans to <br />purchase the existing building and anticipates a total of $14,706,250 in improvements. <br /> <br />The current taxable market value of the property is $8,427,500 ($1,753,500 for land and <br />$6,674,000 for the building). The Ramsey County Assessor indicated that the property value <br />will increase by $1,500,000 to $2,000,000 once the upgrades have been completed. <br /> <br />Based on this information, Ehlers completed a TIF analysis that shows a gross tax increment of <br />$293,302 over nine years of collection. A copy of the Ehlers TIF analysis is attached for your <br />information. Todd Hagen from Ehlers will be in attendance at the work session to explain the <br />TIF information and address any questions you may have. <br /> <br />In addition to information from the County Assessor and Ehlers on future tax capacity, the <br />Council indicated that they would like answers to the following questions: <br /> <br />• What will the projected workflow be for the facility? Specifically, <br />how would the loading docks be utilized and many trucks would be <br />backing up and loading between 11:00 pm and 7:00 am? <br />• How are the employees going to get to the facility? <br />1) How many employees drive and park at the facility? <br />2) How many employees typically utilize public transportation? <br />3) Does the business currently provide any shuttle <br />transportation? If not, would they be willing to do so? <br />4) If needed, would the business be willing to work with the City <br />of Little Canada to request expansion of Metro Transit routes? <br />• What are the pay and benefits for existing employees and entry-level <br />employees? (Information was provided on the anticipated hiring <br />schedule for 160 net new positions over five years with an average <br />salary of $32,600 but not for existing or entry-level employees). <br />