#07 - CDA Grant ULI TAP - Laserfiche WebLink

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The TAP will help the City strategically enhance the commercial tax base of Lake Elmo with the aim of providing insights into the highest and best uses for the property while considering marking trends and the needs of the community. Success will be measured by the number of interested parties after the City issues an RFP with guidance from the TAP report. 11. How will the proposed project and/or activities promote or increase future employment opportunities in the city/township/county (please identify your job and wage goals as a result of the proposed activities and describe how you will measure success)? The project should attract private investment to develop the land which will in turn attract jobs to the city. The city can measure the success of the project by comparing property tax revenues before and after development. 12. Please provide detailed project timeline with all actions, phases, and anticipated dates for completion (when will the activities/studies be complete)? Attached as a PDF. 13. Describe why the development or redevelopment study, report or plan is needed and why the property is not likely to develop through the normal private sector process? The TAP and report are needed to provide unbiased analysis of the highest and best use of the city owned property. Development of the land previously fell through, and the city has been unsuccessful in their first RFP process. 14. Describe the level of commitment by the city/township to the development of the property or area (please identify how the proposed activities meet the city/township priorities, land use planning, economic development goals, etc.…)? Why is this important to the city/township? The City has the highest level of commitment to develop this land to its best use. Since being conveyed the land in 2019 as a result of a 3M settlement, the City has prioritized bringing jobs and increasing the tax base through this site. The City has committed to working with the City of Oakdale to bring sewer to the site at an initial cost of about $1 million to the City of Lake Elmo. The City Council and Planning Commission held public hearings re-guiding the property from rural residential to business park in 2020. As a community that is experiencing a lot of residential growth, we are looking for a more balanced approach to development that includes bringing more businesses to the city. Please attach a resolution requesting grant funding from the Predevelopment Finance Fund adopted by the city/township (sample resolution provided by the CDA). 15. Please submit this application and all necessary attachments electronically (.pdf file preferred) to Economic Development Director, Washington County CDA at: ChrisE@washingtoncountycda.org