Agenda Packets - 2018/06/04 - Laserfiche WebLink

Home Browse Search

of Mounds View Staff R Item No: 01 Meeting Date: June 4, 2018 Type of Business: Work Session Administrator review: K&C-413 To: Honorable Mayor and City Council From: Brian Beeman, Business Development Coordinator, Jon Sevald, City Planner/Supervisor Item Title/Subject: Discussion, Crossroad Pointe Sketch Plan Introduction: The development team of INH Properties, Trident Development, and Lyon Contracting (henceforth, "INH") is proposing two options for the development of Crossroad Pointe; (1) a 135 - unit apartment building; or (2) a 63 -unit apartment building and a Kwik Trip convenience store. INH will present these plans, after which, the Council will be asked to provide direction on which option to proceed with. At a future closed -meeting, the EDA will consider a land sale price. This price will affect whether or not Tax Increment Financing (TIF) is necessary, which requires that at least 20% of the apartments be affordable. The developer is not proposing TIF at this time. Project History: In 2006 and 2013, the City acquired three blighted properties (restaurant, gas station, and car wash) at the southwest corner of Mounds View Blvd and Co Rd H2, removed the buildings and parking lot, and has marketed the property as "Crossroad Pointe". The Council's vision is for a Mixed Use project, totaling 4.25 acres (includes vacation of portion of Greenfield Ave). In 2015, the City entered into a one-year predevelopment agreement with The Beard Group for a 119 unit apartment building on the western half of the site. That agreement expired in 2016. In 2017, the City Council considered three proposals; (1) 200+ unit 100% affordable senior apartments; (2) 200+ unit 80%/20% market rate/affordable apartments; and (3) 60+ unit 100% market rate apartments and "specialty retail" (aka indoor shooting range). By consensus, the City Council chose option 3. In January 2018, the City Council entered into a one-year predevelopment agreement with INH Properties (option 3). On March 26, 2018, the Council considered an Ordinance Amendment that would allow an indoor shooting range within city limits. That portion of the ordinance amendment was stricken, leading to the developer starting over. During this time, Kwik Trip and a commercial daycare center approached City Staff and the developer with interest in being a part of Crossroad Pointe. The daycare has since, decided to pursue another location. Staff Opinion: It is Staff's opinion that the apartment & Kwik Trip option most closely meets the Council's vision for mixed-use. Being that there are four gas stations in Mounds View, Staff does not see a need for a fifth. However, Kwik Trip includes a large area of groceries and prepared meals, which differentiates it from other gas stations. Kwik Trip predicts that half of their sales will be non -fuel related. The nearest similarly sized station is at Highway 65 & 85th Ave in Blaine.