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Priority Two - The Legacy Site <br />Summary <br />The site is located at Interstate 35W and Lake Drive. Recently, the City was granted land <br />control though special legislation, allowing for greater authority in determining the type and <br />timing of development. EDAC recognizes that the private market will prescribe the ultimate <br />development scenario; however there are key elements which are within the City's sphere of <br />influence. Lino Lakes ability to be flexible both on land sale pricing and type of development, <br />plus the potential to assist with financing gaps will ultimately assist in the facilitation of a <br />development plan that meets the City' goals. <br />Blocks define the development tracts. They are identified utilizing the names: Neighborhood <br />Block, Town Square Block, and Urban Block. Each Block can be considered its own, stand alone, <br />development site or all the blocks can be developed by a single master developer. <br />KEY Actions <br />4 Complete an analysis to determine land pricing scenarios which will ensure the optimal <br />outcome for the city's costs recovery of the site assessments. <br />4 Refine City financial strategy for the overall site and if needed specific Blocks <br />4 Evaluate the benefit of a single Master Developer versus the City acting as Master. <br />Ascertain the level of interest through a Request for Information for overall site: <br />• Assess interest of commercial and housing developers <br />• Evaluate financial implications of various scenarios and impact on overall <br />site development <br />Re -visit development companies that had an interest in the past <br />Consider revising PUD to be reflective of City vision <br />Research and meet with potential developers to determine level of interest and <br />type of development the market can support. <br />Evaluate financial implications of alternative development scenarios <br />a <br />