#07 - TAP Proposal for City Owned 180 Acres

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Proposal to the City of Lake Elmo The Urban Land Institute (ULI) Minnesota is pleased to submit this proposal to the City of Lake Elmo to conduct a Technical Assistance Panel (TAP) for the 180-acre study site. ULI Minnesota’s Technical Assistance Panels provide objective and expert advice on complex land use, development, and policy issues. This TAP will bring together a multi- disciplinary team of real estate and land use experts to address key questions posed by the city regarding the future of this significant property. The City of Lake Elmo seeks guidance on several critical issues related to the site. Specifically, the City has identified the need to understand what land uses would generate the most property tax and the financial feasibility of various development options. Furthermore, the city is interested in the pros and cons of dividing the site versus selling it as one property and whether a phased development strategy would be advantageous. This TAP will offer an objective analysis of these key questions, providing actionable recommendations to the City. The panel will also address broader development trends relevant to comparable properties, ensuring that the city's decision-making is informed by the latest market insights. By leveraging ULI's extensive network of real estate professionals and best practices, this TAP will deliver significant value to the City. ULI Minnesota has a strong track record of conducting successful TAPs, with over 20 completed in the past 15 years. Our panels are composed of experienced real estate leaders who volunteer their time and expertise to help communities address pressing challenges. We are confident that this TAP process will provide Lake Elmo with a clear path forward for the site, aligning with the City’s goals and objectives. ULI Minnesota Contact: Megan Flanagan, Executive Director megan.flanagan@uli.org 773.791.3662