Ramsey County is launching a new plan to sell off county-owned property and invest millions of dollars into development in downtown St. Paul.
The county’s Board of Commissioners passed the wide-ranging economic development plan unanimously in a vote Tuesday. It calls for $320 million in investments across the county. The investments are aimed at rejuvenating downtown St. Paul and bringing in needed tax revenue — without raising property tax rates.
County Manager Ling Becker said the county needs the funding boost.
“We are as counties under unprecedented pressure when it comes to federal cost shifts,” Becker said. “We've heard loud and clear from our community that they can’t take this burden.”
As part of the project, the county plans to invest millions of dollars into major development projects in downtown St. Paul. One of those is the RiversEdge project, a development along the Mississippi River including housing, a park and office space.
The plan also calls for selling county-owned land and finding buyers who will develop those and contribute to the city’s property tax revenue.
“The county owns, currently, hundreds of acres of vacant, underutilized land across the county that is truly ripe for redevelopment and ready for redevelopment,” said Josh Olson, the county's Community and Economic Development Director.
The funding for the plan will come from existing county budgets and proposed state bonding dollars.
State Representative María Isa Pérez-Vega, a St. Paul Democrat, supports extra help for the city.
“We know our community has been through so much and is at or beyond capacity. Residents and businesses cannot take on additional strain right now,” Pérez-Vega said. “This plan responds to that reality by supporting thoughtful growth that benefits everyone.”