09-10-2003 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL SEPTEMBER 10, 2003 DEVELOPMENT The City Administrator reported that a developer has entered into a CONCEPT FOR purchase agreement for the excess Market Place Shopping Center EXCESS property located just west of the pond. This site was initially a part MARKET of the Sherman redevelopment project, but can be eliminated from PLACE that project and conveyed to another developer. George Sherman has PROPERTY been contacted regarding this issue, and he is not opposed to the conveyance of the property to another developer. The Administrator reported that the developer has proposed two concepts for this site. The first is for an approximately 14-unit townoffice development. The Administrator presented and described a concept layout for the townoffices. He reported that the developer has been informed that the project would have to comply with the City's architectural guidelines for the area. The Administrator presented the second concept that consists of 49 to 50 senior condominium units that would be owner-occupied and have underground parking. The Administrator indicated that he informed the developer that there are two issues with this proposal. The first is whether or not the Council would support additional senior housing in this area. The second is that the senior condos would generate about twice the TIF increment that the townoffices would. The Administrator also noted that the commercial proposal would be subject to the fiscal disparities pool, while the condos would not. The Administrator indicated that the developer is anxious to move forward, and has indicated that he would pursue whichever project the Council preferred. Fahey indicated that he has no interest in additional senior housing and prefers the townoffice concept. Fahey felt that the area was saturated from a traffic standpoint, and felt the condos would generate more traffic in the area than would the townoffices. Fahey felt the senior condos was merely another high-rise apartment building and would detract from the commercial feel of the area. Fahey also pointed out that the City has informed others that it is not interested in additional senior housing. Blesener indicated that he did not support the senior housing concept. Fahey felt that Little Canada has done its share in providing housing alternatives for seniors to remain in the community. LaValle agreed and supported the townoffice concept subject to adequate parking being provided. The City Administrator indicated that the developer hopes to close on the property by the end of September and would move quickly on developing