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09/06/2012 EDAC Minutes
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09/06/2012 EDAC Minutes
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EDAC
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EDAC Minutes
Meeting Date
09/06/2012
EDAC Meeting Type
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2 <br />type of housing the developers were talking about. Ms. Schwartz said Dominium is a quality <br />developer and she doesn’t think it would cause any negative devaluation. She gave the example <br />of Woodbury where they have areas within a development that has affordable, rental and for <br />sale. This development would make it more attractive for other developers. Ms. Divine noted <br />that affordable rental is taxed at a lower tax rate than market rate rental. Mr. Thor said it may <br />generate less taxes but it could be years before it developed with something else. <br />Mr. Kassner said Dominium has already proven themselves in Lino Lakes and if the new <br />development built with the same standards, people don’t know which is affordable and which <br />isn’t. The city needs rooftops. Mr. Johnson said the city needed to draw more people to this area. <br />Ms. Schwartz said the opportunity to put affordable in is easier before market rate goes in. Mr. <br />Stranik said the city is trying to solve the debt service problem on the Legacy project and this <br />will help. Mr. Combs said that although it may not be the perfect development that the council <br />wants, but it meets much of the criteria the city was looking for, and it’s small enough so it might <br />pull in other projects. Ms. Schwartz asked if they could legally deny it. Ms. Divine said the city <br />would have to purchase the land and it has no obligation to purchase it. There may be a request <br />for city assistance at some point, which could give the city the right to deny that request. Mr. <br />Stranik asked if Dominium could come into EDAC and Ms. Divine will ask them. Mr. Thor <br />noted that a family paying $1300 for rent, that’s comparable to a $250K+ home. Mr. Kassner <br />said the Lakes development in Blaine has rental townhomes next to for sale homes. <br /> <br />Ms. Schwartz moved that EDAC recommend to the city council that the concept of <br />affordable/rental townhomes warrants further exploration considering the following <br />circumstances: <br />• The developer’s positive reputation <br />• The plan is not dissimilar from what was originally planned on the site <br />• Current market conditions are not favorable for most townhome developers <br />• The financial situation of the Legacy development <br />EDAC recognizes there needs to be further exploration of financial implications to the city. Mr. <br />Combs seconded the motion. Motion passed unanimously. <br /> <br />LINO LAKES ASSISTED LIVING <br />Ms. Divine informed EDAC that the owners of the assisted living want to purchase the property <br />(Site B) adjacent to their property to build a memory care unit. It is a preliminary proposal, and <br />the financial issues will be difficult. They have memory care on their top floor now, and are full. <br />Mr. Thor thinks that Site B has high commercial potential. <br /> <br />MARKETING IDEAS <br />Ms. Divine related Councilmember Roeser’s wish that EDAC find new ways to market the city’s <br />competitive advantages in terms of fees and taxes. She requested that EDAC look at current <br />materials being used and provide new ideas that they see might not be touched on. Mr. Stranik <br />said the real competition is with Blaine, Hugo and other north metro cities. <br /> <br />Ms. Divine challenged EDAC to come up with some new ideas. Ms. Schwartz noted the future <br />park & ride on 35E should be marketed. Mr. Johnson said Lino Lakes is convenient for people <br />who go north for recreation. Marketing that the city and staff are pro development is important.
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