06/13/2012 P&Z Packet - Laserfiche WebLink

Home Search

• Vertical mixed use as initially envisioned for the Legacy is very difficult in today's development and financing environment. The City would benefit from a re- visioning of the Legacy project in order to identify realistic uses for this critical area. • Spec developments are almost impossible to finance in today's environment. Strong pre - leasing requirements are necessary for project financing. Most deals are "build to suit." • Successful communities develop a clear vision, react appropriately to opportunities, are proactive in assembling properties, create innovative financial tools, and leverage their key assets. • The City has some tremendous assets such as the YMCA that are attractive to new residents and businesses. Based on these observations, Lino Lakes may wish to pursue the following ideas: • Revisit the financial role the City would consider for future development and redevelopment opportunities. As noted above, the development community will continue to seek out communities that have crafted a well- reasoned and predictable partnership model with respect to public /private ventures. • Find ways to attract or retain Gen Y by marketing what the City can offer that may be special and appealing to this age group. They are interested in places with action, walkability and social connection. Look for key nodes within the City that could provide these opportunities in the future, e.g. redevelopment of commercial corners, repurposing commercial strip centers, re- visioning of Legacy. • A well developed network of sidewalks and trails are of critical importance to both Gen Y and the Boomers. Investments in such networks will likely provide a great return. The City has developed a strong "spine" for a trail system that can and should be added to as times go by. • The City would continue to benefit from a more aggressive marketing effort to "sell" the community and its assets such as the Y and growing families. • Lino Lakes may benefit from a "Technical Advisory Panel" offered by ULI Minnesota for the Legacy. We would be happy to discuss this approach with you at your convenience. • The City's success has been based on its single family neighborhoods and its desire to provide a semi - rural, small town environment that also enjoys proximity to the regional marketplace. The City should be commended on policy initiatives such as allowing two family dwellings in the single family district. Steps such as this that allow more flexibility for future developments should continue to be studied and implemented by the City. On behalf of ULI MN, thank you again for hosting this workshop. •