09/24/1990 Council Minutes - Laserfiche WebLink

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1 1 COUNCIL WORK SESSION SEPTEMBER 24, 1990 residents. 7. Opportunity for Marvy Street residents to maximize their return on their land. The disadvantage to the City would be that the City must participate. Mr. Uhde's letter also outlined the dollars added to the tax base of the City, the dollars realized in additional hook up fees and area charge fees. Option B. Develop Mr. Uhde's twenty four (24) acre parcel independent of the purchase of the Marvy Street property and run a street east -west on Outlots A & B. This will allow each Marvy Street resident to subdivide the southern portion of their lots into two (2) lots. Advantages: Allows Marvy Street residents to subdivide their property and sell lots. Also the City does not have to participate in the purchase of the land. Disadvantages: Marvy Street residents do not want an assessment. These assessments may be excessive due to the width of the lot. There would be poor utilization of property and sewer and water facilities. There will be poor street design and the loss of mature trees on Outlot C. Mr. Uhde's letter also outlines the tax base, additional hook up and area charge fees for this option. Option C. Mr. Uhde will develop his property totally independent of the Marvy Street residents with his own streets and access. Advantages: The City does not have to participate. Disadvantages: Poor utilization of land, south portion of Marvy Street lots would be landlocked, poor utilization of utility services and poor street design. Mr. Uhde's letter also outlines the tax base, additional hook up and area charge fees for this option. Mr. Miller noted that this property is not now in a TIF district. However, if this type of financing was approved, the TIF district would be amended. Council Member Bohjanen said he would like to be sure development happens and that eventually the City would get all its investment returned. Council Member Kuether said PAGE 2