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<br /> <br /> STAFF REPORT <br /> <br /> <br /> <br />TO: Mayor Keis and Members of City Council <br /> <br />FROM: Chris Heineman, City Administrator <br />DATE: September 8, 2021 <br /> <br />RE: South Owasso & Spruce Street Development Proposal <br /> <br /> <br /> <br />BACKGROUND INFORMATION <br />Staff will provide preliminary information about a proposed 74,500 square foot industrial facility <br />to be located at the Northwest quadrant of South Owasso and Spruce Street. Staff has been <br />working with the proposed developer for the past 3-4 months on a proposed project at the <br />previously undeveloped site. This item is closely related to the third strategic direction (Maximize <br />the City’s Assets to Catalyze Development) in the City of Little Canada’s Strategic Plan. <br /> <br />Due to the poor soil conditions on this site, significant subsurface improvements are required for <br />a development of this nature to occur on this site. During the due diligence process, the developer <br />has invested in the following items related to this site. <br />1) Geotechnical Report / American Engineering Testing (AET) <br />2) Legal Survey of existing site <br />3) Preliminary Site Plan for approximately 74,500 SF Warehouse <br />4) Preliminary Building Cost Breakdown / RJ Ryan Construction <br />5) Estimates for Rigid Subsurface Ground Improvement / Subsurface Constructors, Inc. <br /> <br />Each of these items have been submitted and were provided to a municipal financial advisor at <br />Baker Tilly (Mikaela Huot). Mikaela will provide preliminary revenue projections and financial <br />feasibility for the proposed industrial development project at this site at the workshop. It is very <br />likely that this project will require additional funding sources to assist with the subsurface <br />improvements required to construct a building on this site. <br /> <br />The purpose of including this item on the City Council workshop agenda is to determine if the <br />City Council supports development on this site and is willing to offer public assistance. If so, <br />additional financial review and needs analysis will be completed by Baker Tilly. A representative <br />for the developer will also be in attendance to answer any additional questions you may have. <br /> <br /> <br /> <br /> <br /> <br />