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Planning & Zoning Board November 12, 2003 Page 15 • E. City of Lino Lakes/Hartford Group, Legacy at Woods Edge "The Village ", TIF Plan Staff stated the Lino Lakes Comprehensive Plan specified the southeast quadrant of 35W and Lake Drive as "the Village ", a 65 -acre mixed -use area to be set aside as a commercial and civic focal point. The intent was to combine a privately owned commercial site with city -owned land to create a walkable "downtown" neighborhood and to create a sense of civic identify and pride. The Comprehensive Plan established control of the uses of this site in order to create substantially more tax base than conventional suburban retail development, and to provide more diverse "lifecycle" housing choices not currently available in the city. The Comprehensive Plan establishes the housing density at 10 to 24 units per acre. Staff stated in 1998 the City received grant money from the Metropolitan Council's Livable Communities fund to plan this area. The " Calthorpe Plan" was developed to leverage commitments the city had made, including the completed Civic Complex and future YMCA, with private development. The Calthorpe Plan also established design standards in keeping with the Comprehensive Plan objectives to provide "distinctive, consistent architectural style that promotes high quality, aesthetically pleasing commercial buildings." Staff noted Hartford Group, Inc. had submitted a proposal for the development of Woods Edge (the Village) on the southeast quadrant of 35W and Lake Drive. Housing components include 450 units of lifecycle housing, including for -sale townhomes, apartments and condos over commercial, workforce and senior housing. More than 300,000 sq. ft. of commercial, including retail and office space was planned. Pedestrian sidewalks and bicycle paths, tree -lined streets, a community green and building sited at the sidewalk would create an interesting pedestrian environment. Staff stated in September the Lino Lakes Economic Development Authority (EDA) authorized preparation of a modified Plan for Development District No. 1 and creation of Tax Increment Financing District No. 1 -11. This was a 25 -year Redevelopment District that consisted of the Tagg property and the Lake Drive interchange area. The city -owned land did not qualify for redevelopment and would not be included in the district. This TIF district was being reestablished because this project had not developed solely through private efforts and would require public participation to develop in a manner consistent with the city's goals. The TIF plan established a budget based on the amount of tax increment that could be generated for the duration of the district, once full build -out occurred. A TIF District provided a source of revenue that would be used for improvements to Lake Drive and the 35W bridge. Approval of the plan by the City was not an approval of any amount of subsidy to the developer. The amount of subsidy would be determined as the City and developer moved through the approvals process. Staff indicated the City Council had scheduled a public hearing for November 23, 2003. The plan had been sent to Anoka County and Forest Lake School District for review. According to statute, the City's planning review board must make a finding that the establishment of a new TIF District was consistent with the City's Comprehensive Plan. DRAFT MINUTES