03-27-1997 - Laserfiche WebLink

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• , . . JINTER MEMO OF F ICE To: Economic Development Commission From: Pamela Sheldon, Community Development Director Subject: Review of Proposal for O'Neil Property Date: March 20, 1997 An item on your agenda for the March 25, 1997 is a discussion of the proposal for the O'Neil Property. Attached you will find a copy of the staff report prepared for the Planning Commission which provides a detailed analysis of the project. We have not included the attachments due to their length and the amount of copying required. Summary: The O'Neil property is located between Highway 10, Long Lake Road, and County Road H2 and includes approximately 24 acres of land. The site includes a State-designated wetland of 0 approximately 8.5 acres where no development is proposed. The remainder of the site is covered by an oak woodland. The proposal is for a 16-screen movie theater and three office buildings, with each building having 11,000 square feet of space for a total of 33,000 square feet. The office buildings have been placed along the south side of the site, approximately 50 feet from the property line abutting County Road H2. Between the office buildings and County Road H2, the applicant is proposing a buffer area where the existing tree cover would remain, or more manicured landscaping and berming would be installed, depending on the desires of the community. The theater has been placed approximately midway between Highway 10 and County Road H2 on the east side of the wetland. The distance between the building and County Road H2 is approximately 240 feet. The current property tax income from this site for the City is $10,791 out of a total of$66,000). The estimated income for the City from the project is $113,000 out of a total of$691,000. The estimated project value is $11 million. It is expected that the project will generate approximately 77 full time jobs and 52 part time jobs. Also the project is expected to create some spin-off economic activity, including additional job creation and bringing customers to other Mounds View businesses. The applicant is requesting: • comprehensive plan amendment to change the designation from medium density residential to mixed use PUD to allow office and commercial development 0 • rezoning from B-1 (neighborhood residential; 17 acres) and R-2 (single family and duplex residential; 7 acres) to Planned Unit Development (PUD) for commercial development N:\DATA\USERSTAMS\SHARE\DEVCASES\471-97\ECONCOM.MEM