07/14/2003 Council Packet - Laserfiche WebLink

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2. Additional Project Information (limit one page) • • In the space below, provide additional project information or history of the site (not included in the project summary on page 1), including any plans to phase the project. (Limit 20 lines) • • City/Anoka County partnership finalized an unprecedented land exchange that gave the city the opportunity to build a Civic Complex and offer land to the YMCA • City committed $6 million to build the Civic Complex on the site • City purchased 14 acres of land and installed Phase I infrastructure. • City sold two parcels for Fairview Clinic and a community bank. • Calthorpe Associates developed Land Use and Regulatory Plans which concentrate development at intensities that bring within walking distance a complementary mix of land uses. The standards require mixed use, and include a framework of required streets. They specify street standards, open space amenities, build -to and setback lines, pedestrian walkways and landscaping. • City/YMCA partnership will provide a community center for area residents. City contribution is $1.5 million towards construction, plus land and infrastructure. YMCA will provide discounted memberships, community events, teen center. The YMCA is in architectural design phase. A Redevelopment TIF District analysis was completed and a portion of the site qualifies. The schedule calls for establishing the district by December 2003. • Hartford Group has secured a purchase agreement with the private landowner. That has been a major obstacle in the past, and was key to moving the project forward. • An EAW is in process. • Hartford Group anticipates full buildout within two years of start date. • In the space below, state how LCDA funding will overcome obstacles or provide a catalyst. Describe any time constraints, financial hardship or complexity that requires LCDA funding. Address what could not be accomplished but for receipt of an LCDA grant. (Limit 20 lines) In 2000, LCDA request was for $1.5 million to write down the costs of the land purchase. The city received $450,000, which was not enough to fund the gap. The city has been working with the development community and financial consultants to find additional ways to leverage its investment to make the project move forward. The city has made a significant investment in this project to date, and additional investment will be required. Improvements to Lake Drive and the 35W overpass will be necessary. The privately owned land was zoned commercial, making it priced higher than the market for residential development. Tax reform significantly reduced the viability of TIF. Amenities that set a neighborhood apart from conventional suburban development and create a true sense of place are not TIF eligible and often are slashed from the development plan for lack of available funding. The amenities are crucial in a pedestrian environment. People walk when it is pleasant, safe and comfortable to do so. People stay because the setting draws them. People value what has value. The public realm the "outdoor rooms" that invite people to gather —does not happen in new Traditional Neighborhood Developments without public assistance.