10-13-1998 EDA - Laserfiche WebLink

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dy Mounds View EDA I 111 September 14, 198 +I� y ppRovr...0 Page 3 City's financial obligations in the event that a Development Agreement related to the proposed Mermaid hotel and banquet center is ultimately executed by the City/EDA and the Developer(s). The recipients of the DTED redevelopment grants will be determined by a point system, under which(up to) 20 of the possible 100 (maximum)points will be related to environmental issues: up to 15 points for "redevelopment in connection with contamination remediation needs" and up to 5 points for "multi jurisdictional projects that take into account...environmental impact." DTED representative have iridicated that the submission of an objective, independent environmental site assessment(ESA) would be expected, if not required, in connection with any redevelopment grant application that seeks to have points awarded for environmental issues. In anticipation of the potential need for an ESA of the RentAll site, City staff recently contacted three reputable environmental consultants to request written cost projections regarding various types and levels of environmental assessments. The projected cots for a Phase 1 ESA of the RentAll site ranged from $1,750 to $2,795, with Peer Environmental& Engineering Resources, Inc.(Peer) submitting the lowest estimate. The projected cots for a Phase 1 and Phase 11 ESAs of the RentAll site ranged from$3,900 to $5,300, with Peer, again, submitting the lowest . estimate. The application deadline for the DTED Redevelopment Grant is October 1, 1998, and the time needed to complete a Phase 1 ESA or Phase 11 ESAs would be approximately two seeks. If this matter is deferred until the next Council meeting on September 28, insufficient time will remain to complete any kind of ESA and incorporate it into our DTED grant application. The City Council could make the decision to await the final execution of a Development Agreement with the Developer(s) before proceeding with the environmental assessments that are being recommended. However, the timetable (in particular, the 10/1/98 application deadline) imposed by the DTED Redevelopment Grant program simply will not allow us to defer such assessments without seriously reducing the likelihood of being chosen as one of the eventual grant recipients. ADDITIONAL INFORMATION Director Carroll continued with the following additional information: The resolution had been revised to reflect discussions that occurred 9/14/98 regarding these topics. . 1. The Developers' agreement to immediately proceed with Phase 1 environmental site assessments (ESAs) for all of the parcels in the Project rather than just the RentAll site;