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MINU'1'LS <br />CITY COUNCIL <br />~GI3RUARY 13, 2002 <br />Hanson reported that Metro Plains focuses on 8 to 9 projects each year, and limits <br />those to I to 2 market rate neighborhood revitalization/conunercial projects. In this <br />way, Metro Plans does not get over-extended and can provide attention to detail. <br />Hanson presented two case studies showing recent projects undertaken by Metro <br />Plans. The case studies showed these projects from initial concepts, through the <br />planning process through to completion. In each case, Memo Plains presented <br />concepts and worked with the communities involved, responding to their needs and <br />goals. The f rst project was in the City of Mound and the other in Golden Valley. <br />Qoth projects were mixed-use of commercial and residential development. It was <br />noted that iu the Golden Valley project, Metro Plains also worked with 9 to 10 <br />existing businesses, eventually relocating several of these in the new development. <br />With respect to the Little Canada project, Martens suggested that the area is not a <br />significant retail user site, but more apt to appeal to smaller retailers. He felt that a <br />minimwn of 14,000 to 15,000 square feet of retail would be feasible for the southeast <br />corner of the site. With regard to the northeast corner, Martens felt the market for <br />multi-tenant office space was oversupplied and it may be as long as 2004 befa e that <br />market corrects itself Martens felt that a 2 to 3 story medical or medical/professional <br />building with some commercial would work on that corner. <br />Hanson indicated that with a 2 to 3 story medical/professional building on the <br />northeast corner and a 4 story retail/senior housing on the southeast corner can be <br />developed as a gateway into the community provided that the two projects are <br />developed iu a coordinated manner. <br />Eide indicated that as the project evolves, so will the financing evolve- Just since the <br />last meeting, the concept of creating a housing district is being considered. Eide <br />indicated that Metro Plains can pull the financing together for this project, acrd <br />pointed out that the City can draw on the opportunity for dollars that are not limited <br />to T1F, Eide stated that some financing mechanisms being considered are the Livable <br />Communities Act and Community Development 131ock Grants to name a couple. <br />Hanson stated that he understands the City's desire to recover land costs. The <br />amount of dollars that will be recoverable translates back to the quality of the project <br />the City wants to see. I-Janson also indicated that they would anticipate a construction <br />start of Spring of 2003, and felt that was a reasonable goal Hanson felt it would take <br />some work to get all the pieces in place. <br />Anderson asked how Metro Plains would give preference to Little Canada residents. <br />Eide reported that while the project cannot be restricted to Little Canada residents, <br />the marketing that they would do would be focused on Little Canada residents and <br />their parents. Marketing would occur to Little Canada churches and community <br />organizations as well as in local newspapers to attract the local population. <br />2 <br />