10/05/2017 EDAC Packet - Laserfiche WebLink

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ECONOMIC DEVELOPMENT ADVISORY COMMITTEE AGENDA ITEM 3B STAFF ORIGINATOR: Michael Grochala, Community Development Director EDAC MEETING DATE: October 5, 2017 REQUEST: Woods Edge Development Interest Background In 2010 the Legacy at Woods Edge Property forfeited to the State of Minnesota for failure to pay property taxes. The City's Economic Development Authority (EDA) obtained title for the remaining 20 acres of undeveloped land in September of 2013. The acquisition was made possible through special legislation approved in the 2013 legislative session. The property transfer was made at no cost to the City. The purpose of the transfer was to streamline the conveyance process and allow the City opportunity to recoup outstanding special assessment debt with land sale proceeds. In 2015 DR Horton purchased approximately 11 acres from the EDA for $1,000,000. The property is currently being developed with 112 townhomes. This leaves approximately 9 acres remaining. When the Legacy project was first envisioned and approved it was based on a set of core principles and objectives: • Develop land uses linked to local and regional transportation systems. • Connect housing and centers of employment, education, retail and recreational uses • Provide a range of housing choices • Protect and enhance natural resources Site Development The Planning & Zoning Board and City Council reviewed the site design/layout and reaffirmed the development principles in March of 2014. The master plan breaks up the with land use alternatives on a block by block approach. This approach was used to simply recognize the different land use areas within the development that can function independently and would likely be sold/developed separately. We have identified these as the Neighborhood Block, Town Square Block and the Urban Block.