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02/08/2006 Council Minutes
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02/08/2006 Council Minutes
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City Council
Council Document Type
Council Minutes
Meeting Date
02/08/2006
Council Meeting Type
Work Session Regular
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• <br />CITY COUNCIL WORK SESSION FEBRUARY 8, 2006 <br />APPROVED <br />1 <br />2 Community Development Director Grochala stated in addition, the City was attempting <br />• 3 to create a mixed use downtown that would be a source of community identity and pride, <br />4 and the YMCA was considered a vital link in providing that identity and helping to spur <br />5 further commercial development in the downtown. <br />6 <br />7 Community Development Director Grochala explained that in the original agreement <br />8 approved in 1999, the City agreed to financial participation of $1.5 million in cash for <br />9 construction, plus land and infrastructure estimated at the time to be approximately <br />10 $500,000, for a total cash contribution of $2 million. The land was approximately 7 acres <br />11 that had been removed from the regional park in a "land swap" that was approved by the <br />12 Metropolitan Council. Through the swap the city received 14 acres for the city hall and <br />13 YMCA at a cost of $300,000. <br />14 <br />15 Community Development Director Grochala stated in turn, the YMCA agreed to build <br />16 approximately 37,000 square feet that included a "teen center, gym, indoor pools, <br />17 running/walking track, cardiovascular/strength training area, aerobic studio, family <br />18 program space and Child Watch. Building design will provide for future expansion <br />19 opportunities. " City residents would receive discounted membership fees and "open <br />20 community" days where all residents could use the facilities. The Council considered this <br />21 joint venture a way to get a family oriented community center for approximately 30 cents <br />22 on the dollar with no long-term operations and maintenance costs. <br />23 <br />24 Community Development Director Grochala advised that in 1999 Springsted, Inc. studied <br />• 25 the financial implications of the city's commitment and analyzed financing options. At <br />26 the time of the study, the YMCA had completed market research that indicated a 46,000- <br />27 square foot facility would better serve the community, for a cost of approximately $6 <br />28 million. The YMCA capital funding was to be limited to $2 million. The city's cash <br />29 contribution was estimated to be $2 million total. The remaining was to be from <br />30 community contributions. <br />31 <br />32 Community Development Director Grochala stated an updated analysis in 2004 by <br />33 Springsted recommended using tax abatement, a tool that was not available in 1999, to <br />34 pay for the city's $1.5 million cash contribution. The City Council established a Tax <br />35 Abatement District in the southern portion of the Woods Edge development to capture the <br />36 city portion of taxes generated by new development. Springsted estimated the cost to a <br />37 taxpayer in a $228,000 home to be $20/year, declining over the life of the bonds, but <br />38 growth in residential tax base could offset any increase in the tax rate. <br />39 <br />40 Community Development Director Grochala noted the City has also benefited from the <br />41 development of Legacy at Woods Edge with Hartford Group as the master developers. If <br />42 the YMCA had been constructed prior to Woods Edge being underway, the city would <br />43 have been obligated for the costs of construction of Town Center Parkway, including <br />44 improvements to the Lake Drive intersection, plus extension of utilities, to the YMCA <br />• <br />
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