07/23/2012 Council Packet - Laserfiche WebLink

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sell within a specific year, that $100,000 would be retained by the County from the purchase price. The remaining revenue would be returned to the City to be used to pay assessments on that parcel. Marketing efforts: Staff continues its marketing of the Legacy project to developers. For the past four years developers who have met with staff have continued to make the much the same comments: • There are fewer developers to do projects, those still doing business look for easy projects in desirable locations • Housing developments are smaller (prefer approx. 40 lots) to avoid land carrying costs • There is no market for townhomes • There is a market for apartments • Developers are building in the inner rings • It's easier for consumers to get to the developments in other cities, such as Blaine • Construction costs have not gone down while home prices have dropped • Financing is difficult but is freeing up slightly in 2012 • Lino Lakes market is soft for commercial /retail • Lino Lakes has a reputation as anti - development (limit to housing starts and perception that townhomes are not welcome) Staff has met with a variety of developers, attend real estate conferences to follow current trends and network with developers, mail marketing materials, and continue to look for ways to appeal to all realistic markets. Staff has met with the following housing developers: • Ryland Homes, Mike DeVoe • Pulte Homes, Ian Peterson • Lennar, Steve Ach • The Beard Group, Tom Gump • Hans Hagen Homes, John Rask • Doran Companies, Kelly Doran • Century Farms - Gary Uhde • CBRE - Richard Palmiter • Welsh Co. - Ted Gonsier • Pratte Homes - Len Pratte • Cornerstone Group, Colleen Carey • Common Bond • Dominium, Nick Anderson • Lino Lakes Assisted Living, Amy Koehnen • Bancor Group, David Newman Additionally, Springsted and city staff are arranging a developer forum with several other residential /commercial developers to continue the dialogue. Staff is preparing a marketing piece for their use. Tax Revenues from Different Types of Development Council requested that staff present revenue generated from different types of development. Below is a comparison of residential types and commercial /industrial development based on a range of values. In addition there is a comparison of an existing space in Lino Lakes (Lakewood Apartments first floor) built out as commercial, as market rate apartments, and as affordable apartments.