10-12-1988 Council Agenda - Laserfiche WebLink

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With alternative #2, two possible plans for redevelopment have emerged. These two ideas are shown in Exhibit G. Alternative 2A is the larger of the plans as it includes the four single family home sites which front Country Drive near the water works right - of -way. This plan will allow for a more level new Country Drive grade as regrading could start near the water works right -of -way. It would appear that, if this plan is constructed, a nearly constant street grade for Country Drive could be achieved from the apartment complex on the north to the area of reconstruction recently completed by the State. This in turn could provide excellent site visibility for most of properties fronting L -35E from the water works right -of -way to the Quebec Apartments. The cross section along Country Drive is shown in Exhibit H. Alternative 2B is smaller in area to Alternative 2A but very similar in concept. This plan does not include the aforementioned four home sites as these might prove difficult to acquire. As in Plan 2A, Burke Lane is proposed to be extended east to Country Drive on the north side of the existing homes. This alternative suggests that regrading start along this alignment and then proceed to the north, leaving all of the single family homes on it's south side as is. This alternative does not allow, however, as constant of a grade for Country Drive as the single family homes, if they are to remain, dictate a higher elevation for the Burke Lane /Country Drive interchange. From this interchange, new Country Drive could be sloped downwards to achieve the intended elevation north of Burke Lake. The redevelopment site adjoining Burke Lane to the north will have less freeway visibility as Country Drive will not, as noted earlier, begin its descent until north of the single family homes. This in turn will affect the visibility of this area from I -35E. Based on the analysis of these two alternatives, our office recommends further study of Alternative 2A for redevelopment in this area. This is because, in part, the four single family home sites are zoned B -3, the separation that the water works right -of -way provides and the opportunity to reconstruct Country Drive beginning where the State finished their recent street work. This plan also allows for the construction of Country Drive at a more constant, straight grade and will obviously help to facilitate redevelopment of the southern most single family home sites. Tax Increment Uses. Tax increment financing has been mentioned as a possibility for implementing redevelopment in this area of Little Canada. The preliminary report prepared by Business Development Services (BDS) indicated that the use of tax increment financing for redevelopment in this location was potentially feasible. The question then arises regarding the possible uses for tax increment proceeds for such a project. Besides using the money for street and utility improvements, a number of other potential uses for the proceeds exist. These Page 31