Agenda Packets - 2001/05/07 - Laserfiche WebLink

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1. Everest County Highway 10 Properties (30 points) 2. Silver Lake Road and County Highway 10 Properties (25 points) 3. Skyline Hotel (20 points) 4. Groveland Road and County Highway 10 (20 points) 5. Network Liquors Property (20 points) 6. Herbst and Pettibone Properties (11 points) Please note that numbers 3, 4, and 5 tied with the same number of points. Accordingly, the priority ranking for these project areas were assigned administratively. Tools to Effectuate Redevelopment In the past, Mounds View has been reactive in the area of redevelopment. However, as the City continues to age, it will be necessary to become more aggressive in order to maintain and enhance current community character. Accordingly, from a policy perspective it is necessary to consider using tools that the City has not traditionally utilized. These tools primarily relate to land acquisition and project finance. Land Acquisition When considering redevelopment, there are two primary policy issues relating to land acquisition. First, a policy perspective regarding the assembly of land to be sold to a developer needs to be defined. Since redevelopment often involves assembling adjacent parcels with existing structures, it is often not financially feasible for a developer to assemble all the necessary land. As a result, developers often rely upon cities to assemble and acquire land that is later resold at market rates. Expenses associated with the land assembly are then recuperated through the sale of the land to the developer and the future tax base associated with the new development if the property is within a TIF district. Related to the issue of land assembly is the use of eminent domain. While this has been discussed at the Council level, it would be seemingly be appropriate to further articulate policy in relative to the use of eminent domain. This is particularly important given current City initiatives such as the County Highway 10 Corridor Reconstruction and Revitalization study. In some instances, particularly when there is an unwilling and/or unreasonable seller, it may be necessary to use the City’s power of eminent domain to acquire property. Eminent domain essentially allows a unit of government to acquire property for a specified public purpose such as redevelopment, infrastructure improvements and so forth. In addition to the price of the property, the property owner is compensated with relocation benefits. Aside from any regulatory control the City has over property and development, being an active participant in land acquisition enables the City to further influence the quality of redevelopment that would occur. The use, or potential use of eminent domain, is vital to accomplishing redevelopment objectives. Based on discussions with other cities, eminent domain is not commonly used for most property acquisitions. Rather, it is only used when the municipality and property