07/23/2007 Council Packet (2) - Laserfiche WebLink

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• • • STAFF ORIGINATOR: AGENDA ITEM 6Ai Mary Alice Divine DATE: July 23, 2007 TOPIC: Second Reading of Ordinance 06 -07, conveying City owned land to Greg Anderson Development, LLC Vote Required: Simple Majority BACKGROUND: At the July 9, 2007 city council meeting the council approved the first reading of an ordinance to sell three acres of city -owned property on Lake Drive to Anderson Builders for commercial uses. Council had questions regarding meeting city goals for realignment of 77th Street and additional questions for staff regarding the proposal. Council requested further discussion of these items at the second reading of the ordinance. The developers have proposed a commercial project in two distinct phases. The purchase agreement for consideration in this ordinance is for the sale of three acres of city property to be developed in substantial conformance to what the developers have proposed in the Development Plan (Exhibit H). This project is designed to stand on its own whether or not the 77th Street road realignment occurs or any further redevelopment of existing properties on Lake Drive south of 77th Street occurs. 77th Street Realignment Approval of this purchase agreement does not guarantee the realignment of 77th Street. Redevelopment of an area is a more multifaceted process than green site development and generally assumes phasing over a period of time. Working with one developer to accomplish the long term goals can lead to a smoother process and provide options to the city that are not currently available. Costs of property acquisition, demolition and infrastructure generally require a stronger partnership between the developer and the city to accomplish the goals of all parties. In addition, a phased development plan that includes the realignment presents opportunities for the most efficient commercial land use and can generate more tax dollars than could be generated by development of each existing residential site on its own. Short of the city taking the lead in redevelopment of the area, Anderson Builders is committed to private investment while working with the city to accomplish its goals. Anderson has demonstrated its commitment by negotiating control of two of the properties needed for the majority of the realignment of 77th Street. Preliminary estimates for reconstruction, land acquisition, building demolition,