10/05/2017 EDAC Minutes - Laserfiche WebLink

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3 Ms. Barsness next asked the committee if the language should be altered to provide the most amount of assistance and what limits should the city set for assistance. The committee inquired if this would include blight and what the City defines as blight. Mr. Grochala stated that it is statute and would require an inspector that would show that the cost to upgrade or repair a building exceeds the current value of it. He further explained that the 49 Club building was inspected and approved as blight and TIF was sued for its demolition and site cleanup. Mr. Grochala asked if the percentage for assistance on a project should stay as-is in the document. He stated that the 16% cap from the city keeps the developer with skin in the game on a project. The Committee agreed that the 16% cap is something that should stay as-is. The Committee discussed that project value is different than project cost and could be less than construction costs and minimum value agreements are needed to ok any TIF district to guarantee a revenue stream. This discussion was tabled for further conversation in a future meeting. b. Woods Edge Development Interest Mr. Grochala began the discussion by explaining that there is interest in developing the remaining large block in the Woods Edge development with a senior campus for the site. The original plan was for a mixed use district with commercial pads and residential above commercial uses. The area has been hoped for commercial to keep an active town center feeling to the area. The developer has submitted concept plans of a 200 unit facility with 100 independent living units and assisted living units for the remainder. The developer would maintain a retail pad nearer to Lake Drive with some first floor commercial abutting the community green area. All existing senior buildings in the area are 100% occupied currently. The city has some concern about the vertical mixed use, but the developer wants to build amenities onsite for residents and having them available for the public as well. Mr. Grochala asked the committee if the proposal is something the City should be interested in pursuing further. Committee members asked if there are similar projects in the area and if this would create too much senior living in the Woods Edge area. Mr. Grochala responded that the development near the Tria event center is similar and has been successful and that the City has some concern about having too much of a single housing type in the area, but with the townhome development coming online that the age mix could be fine. He also stated that the value of the project could be high enough on its own to merit construction. The Committee discussed the merits of senior living communities and the lack of them currently in the City. The Committee thought that this development fits the area as there is ample retail nearby, easy access to the freeway, a large programmable green space