06/05/2014 EDAC Packet - Laserfiche WebLink

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3 Lino Lakes | 6/1/2014 Priority Two - The Legacy Site Summary The site is located at Interstate 35W and Lake Drive. Recently, the City was granted land control though special legislation, allowing for greater authority in determining the type and timing of development. EDAC recognizes that the private market will prescribe the ultimate development scenario; however there are key elements which are within the City’s sphere of influence. Lino Lakes ability to be flexible both on land sale pricing and type of development, plus the potential to assist with financing gaps will ultimately assist in the facilitation of a development plan that meets the City’ goals. Blocks define the development tracts. They are identified utilizing the names: Neighborhood Block, Town Square Block, and Urban Block. Each Block can be considered its own, stand alone, development site or all the blocks can be developed by a single master developer. KEY Actions Complete an analysis to determine land pricing scenarios which will ensure the optimal outcome for the city’s costs recovery of the site assessments. Refine City financial strategy for the overall site and if needed specific Blocks Evaluate the benefit of a single Master Developer versus the City acting as Master.  Ascertain the level of interest through a Req uest for Information for overall site:  Assess interest of commercial and housing developers  Evaluate financial implications of various scenarios and impact on overall site development  Re-visit development companies that had an interest in the past  Consider revising PUD to be reflective of City vision  Research and meet with potential developers to determine level of interest and type of development the market can support.  Evaluate financial implications of alternative development scenarios