04-30-96 Council Workshop Minutes

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MINUTES CITY COUNCIL APRIL 30, 1996 TIF. The Administrator replied that a portion of the cost of infrastructure and streetscape could be funded with TIF. Fifield indicated the major elements to fund are land acquisition, site preparation, construction of Middle Street and Market Place Drive, as well as the streetscape along these two streets and Little Canada Road. Morelan pointed out that street reconstruotion and streetscape improvements would be assessable. Fifield agreed assessments are a funding source in addition to TIF. Morelan asked if the City would have to have a good handle on the amount of assessments necessary before finalizing the RFP. The Administrator replied that that was correct. This is why the streetscape proposal is so critical. The City needs to get a handle on the cost of the improvements so the developer can consider that factor in a proposal. Fifield stated the more details that are pinned down, the easier it is to attract a developer. The City will want to know its investment will pay off as does the developer. With a specific plan for development, the City will get a broader range of good proposals. Morelan asked how sure the City was that the streets will bs located where they are shown in the Development Guide. The Administrator pointed out that the location of Little Canada Road is known. The streetscape and existing land uses will dictate the location of Market Place Drive. It is the location of Middle Street which is the variable. Schroeder indicated the streetsoape will try to align Market Place Drive with County Road C-2 in Roseville. Market Place Drive will also have to be aligned with the two senior housing buildings and the Market Place Shopping Center. The streetscape will bring the issue of Middle Street to closure to the extent possible. 5