06/25/2001 Council Packet - Laserfiche WebLink

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• • • • Cooperation with the city, the Minnesota Department of Transportation (MnDOT) and the YMCA to finalize an integrated development plan. • Completion of market research. • Completion of project budget that will establish the market value of the development including the land to be acquired from the city. • Preliminary concept plan and drawings based on your current market research, and using the design guidelines • Pre - leasing agreements within an established timeframe • Evidence of financing capabilities • Developer establishment of a Town Center Association for ownership and management of the respective projects. • Cooperation and assistance in future funding for the project with the Metropolitan Council and other agencies. City responsibilities will include: • Analysis of civil engineering, design, and construction of the Phase I enhancements including roads, curb and gutter, water mains, storm and sanitary mains, sidewalks, street lights, public signage and landscaping, etc., outside of the proposed right of way. Assessable costs will either be reflected in the price of the land or assessed back to the developers. The developers will have the option to construct the public improvements (road and utilities) or to have the city construct the improvements and assess them back to the property. • Inclusion of the Village plan in the city's Comprehensive Plan. • Completion of negotiations with MnDOT for the proposed second access to the site. • Completion of negotiations with the YMCA regarding its site and building plan. Reasonable parking for the project will be required as part of YMCA site and building plan approval. • Providing the developers with all pertinent information it has available regarding the city -owned site, including marketable title to the land, boundary survey, environmental assessment, topography and tree inventory. • Pursuing other potential financial incentive options, including tax abatement, tax increment financing and Livable Communities funding. In addition, as part of the development agreement the city and the development team will work in cooperation for final site assembly on the remaining city owned property and the Tagg property. This will entail either developer lead in acquisition of the Tagg property with city assistance, or the city lead in acquisition with a developer take -out. The development agreement will include design and development guidelines as a means to ensure that this and future development in the Village is consistent with the concept plan. The city and the development team will continue to review the revised guidelines until all parties are satisfied with their inclusion into a development agreement. Staff will recommend the city council cooperate to any extent that is reasonable within the guidelines to provide your team the opportunity to develop a mixed -use town center.