11/25/2002 Council Minutes - Laserfiche WebLink

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• APPROVED COUNCIL MINUTES NOVEMBER 25, 2002 MSA account so it would not be a General Fund levy, but a bond against the MSA revenues to advance those dollars for project use. From that perspective this is a $200,000 project with the City paying a share of it so the share of bonding for this intersection would be a relatively small portion for that type of bond. Councilmember Reinert stated he is looking at how it would be paid for, and when it would be done in relation to the project itself due to the traffic problems it would create. Mayor Bergeson stated another potential funding source would be the Miller Farm project since that may require rezoning or other accommodation from the City. He stated the City may be in a bargaining position and able to get some contribution for the signal. Councilmember Reinert noted it would cost about $200,000 to improve it to a point where it would make sense to do this development and asked when those road improvements and signalization would be completed. Community Development Director Grochala stated if it comes to at point that the signal wasn't moving forward and they are just putting in turn lanes, then we would have the Birch Street section and turn lanes installed prior to the first store opening. He explained that with the entire project it is hard to give a definite estimate but he would think 2004. He stated there are processes that need to be followed as well as timing for funding. Community Development Director Grochala stated they need to evaluate additional impacts on the northern part, wetland mitigation, etc. He stated development on the Miller Farm property is anticipated but it will probably be four to five months before approvals would be considered. He estimated the improvements could be completed in two years, which is still ahead of the Anoka County schedule. Councilmember Reinert asked if the City needs permission from Anoka County for this plan. Community Development Director Grochala stated they would need Anoka County permission for plan approval. However, it has appeared in the meetings he had with Anoka County that they would let them construct similar to what is shown on the concept plan. He stated that is when the issue of Anoka County cost participation will come up. Councilmember Reinert asked if the tenants discussed initially are the same. Rockne Goertz, Spirit Hills developer, reviewed the names of the tenants and stated they are the same. He stated all know him well enough to know he will "dog" Anoka County to get it done. He stated in "real life" it will take nine months to construct the building and they anticipate the development to fill in two years. If that occurs by the spring of 2005 they will be happy. He stated staff has held discussions with the developer across the street and they have indicated a willingness to participate. He stated they are professionals and he doubts they will walk away from development for a cost of $75,000. Mr. Goertz noted that a temporary signal is more in the neighborhood of $90,000 so with the other developer the City would not have any costs. He stated if no progress is made in one year from now, that can be discussed. With that option, the neighborhood is safe and the City gets a • nice building. 21