Consider approving the attached resolution formally requesting use of Anoka County Housing & Redevelopment Authority (ACHRA) fund dollars to help pay for arterial infrastructure located along Bunker Lake Boulevard and Puma Street, within the city's new business park.
This case is administrative. Staff is lining up funding sources for this project. The EDA and City Council have provided direction on this project in the past and have been supportive of this funding source for this project. Attached to this case is high-level background information on the project. Also attached is the assessment agreement for this project.
Anoka County HRA
In order to utilize ACHRA dollars, the city must receive formal authorization from the ACHRA board. In order to be considered by the ACHRA board, the city must pass/ submit a formal resolution requesting dollars.
The City has used the ACHRA fund in the past to help financially assist housing projects and to pay for the purchase/ clean up of blighted properties. Eligible uses of the program are economic development, redevelopment, and housing projects.
The ACHRA fund is an elective program. City's choose to participate. If City's participate, Anoka County levies dollars from Ramsey residents on the city's behalf. Although the ACHRA cannot use said Ramsey dollars for their own initiatives, they do provide oversight of each individual communities' ACHRA fund, and they do have the authority to approve or deny requests from individual communities. The City of Ramsey has participated in the ACHRA for over 10 years, and levies roughly $300,000 annually.