04/18/2001 Council Minutes - Laserfiche WebLink

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• CITY COUNCIL WORK SESSION APRIL 18, 2001 Mr. Steinman stated the numbers received were $36 dollars per square foot for construction on the Target project compared to $90 dollars per square foot for construction of small housing units. Density is also a major factor related to the valuation between the north end and south end. Council Member Reinert excused himself from the meeting at 7:00 p.m. Council Member Carlson asked Council Member Reinert for direction regarding single family housing for the developer of Spirit Hills. Council Member Reinert indicated he is comfortable with single family housing. Council Member Carlson inquired about the amount of land the City has. Mr. Steinman indicated the City has 7.5 acres available to sell afte YMCA deal. The 7.5 acres does not include the old police station land. Economic Development Director Wessel reviewed the a, control of. Council Member Carlson asked if the study was additional acres for the YMCA. She also as out of the Area and Unit Fund. s the City still has out considering the three (3) the CA's incentives were taken Mr. Shannon advised the City has a '> ion s o ar commitment to the YMCA. Council Member -Carlson inqul cost per acre for the old police station land. Mr. Steinman advised th t as g price for the property is $327,000. Council Member Carl • w® = d about the difference in City benefit for the Village compared to the north e • the flow of tax abatement. Mr. Steinman stated the difference between what the City will be able to assess and costs is approximately $1.7 million. The study identified costs and gave the City options. The study did not identify a specific dollar amount to be used for any quadrant. Council Member Carlson asked about anything that shows the flow in and out of the Area and Unit Fund. Mr. Steinman stated the items related to that are the sale of the Rehbein land, the Livable Communities grant, the YMCA and payment on the Rehbine land. Council Member Dahl asked for clarification related to putting money away now vs. waiting.