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6 Development Opportunities on City-Owned Land | Lake Elmo, Minnesota <br />Lake Elmo, Minnesota, provides all of the <br />small-town charm of a city of nearly 15,000 <br />people while also maintaining easy access to <br />the urban benefits of nearby Minneapolis and <br />St. Paul. As the population of Lake Elmo has <br />grown and more people are choosing to call <br />Lake Elmo “home,” the City of Lake Elmo (the <br />City)–its elected leadership and professional <br />staff– has kept pace, ensuring ready access <br />to the development services, utilities, and <br />infrastructure needed to build the housing <br />that new residents seek. <br />Today, the City faces a new development <br />challenge. A 2019 settlement with 3M <br />Corporation placed in the City’s control <br />approximately 180 undeveloped acres on <br />the eastern side of the intersection of Ideal <br />Avenue North and 34th Street North. The <br />City, when faced with the potential to release <br />the site for development, turned to the Urban <br />Land Institute Minnesota district council (ULI) <br />for guidance. ULI, using its trusted technical <br />assistance panel (TAP) program, convened <br />a small team of real estate professionals <br />to study the challenge and provide the City <br />with development recommendations. The <br />ULI panelists had expertise in the areas <br />of real estate development, architecture, <br />engineering, urban design, and finance. <br />Using ULI’s trusted two-day TAP process, the <br />panel toured the study site and surrounding <br />area, met with the City, and interviewed <br />community stakeholders. Equipped with their <br />professional experience and insights from <br />this information gathering process, the panel <br />spent the rest of the TAP discussing potential <br />solutions for the community and outlining <br />potential paths forward for the City. <br />Site Context <br />The study site is divided across three parcels <br />and is being used today to grow crops. The <br />City’s 7.4-acre Public Works facility also sits <br />at the northeast corner of Ideal and 34th <br />Street, is surrounded on two sides by the <br />study area, but was excluded from the TAP. <br />• Parcel 1. The southernmost parcel of 20.8 <br />acres is bordered by a Union Pacific rail <br />The <br />VillageStudy <br />Area <br />I- <br />6 <br />9 <br />4 <br />Route 36 <br />34th St <br />Stillwater Blvd <br />I-94 <br />• What land uses would generate the <br />most property tax? <br /> ◦What land uses are most financially <br />feasible? Are there current <br />conditions that could affect this? <br /> ◦More generally, are there <br />development trends that you are <br />seeing for comparable properties? <br />• What are the pros and cons of dividing <br />the site or selling as one property? <br />Should the site be offered in phases? <br /> ◦What would a phased development <br />strategy look like? <br />• Is now a good time to sell the <br />property? Does the timing affect how it <br />should be sold? <br /> ◦What is the preferred disposition <br />method? Discussion of options. <br /> ◦What economic incentives would be <br />most beneficial to the site, TIF, tax <br />abatement, etc.? <br />• What kind of requirements/strategies <br />could the city put in place to encourage <br />community participation in the <br />development process? <br />Questions for the Panel <br />The study area is marked by good transportation access. <br />GO <br />O <br />G <br />L <br />E <br /> EA <br />R <br />T <br />H <br /> / UL <br />I <br /> PA <br />N <br />E <br />L