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• <br />ONE YEAR ACTION PLAN PROJECTS <br />1. TOWN CENTER DEVELOPMENT (Woods Edge) <br />2003 REVIEW: Many of the strategies have been accomplished, but critical decisions <br />ahead will determine the success of the project. A master developer, Hartford Group, <br />completed a purchase agreement for the Tagg property and the city property. SEH was <br />hired by the city to complete the design of public improvements. A redevelopment TIF <br />district was approved for the Tagg property. The preliminary plat and rezone to PUD <br />was approved, with the Calthorpe Design Standards as the governing standards for <br />development. A public improvement feasibility study is underway. The YMCA continues <br />to raise funds for the construction of a 45,000 SF facility. <br />PURPOSE: <br />Facilitate the development of Woods Edge as the focal point of <br />the Town Center as "downtown" Lino Lakes based on the guiding <br />principles established in the Calthorpe Master Plan. <br />TIME FRAME: 2004 -2006 <br />IIIASSIGNED TO: Community Development pment staff, EDAC, consultants <br />STRATEGY: <br />• <br />1 Recognizing this as the city's major economic development <br />priority in 2004, support and promote a development <br />agreement between the city and the developer that: <br />a. Ensures development that meets the objectives of <br />the Comprehensive Plan and the Calthorpe Master <br />Plan. <br />b. Completes the sale of the city -owned property. <br />c. Recognizes the need for public financing to generate <br />tax base well beyond what the site would generate <br />if left to develop on its own, and also recognizes <br />that this high quality development will make Lino <br />Lakes a more desirable place to do business. <br />d. Uses opportunities from additional tax base <br />generated to finance public improvements, including <br />the city's commitment to the YMCA, and <br />improvements to Lake Drive and the 35W <br />interchange. <br />3 <br />