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Item 08A <br />Page 20 of 26 <br />Financial Impact: <br />The Developer is requesting Tax Increment Financing (TIF) from the EDA. Total project cost is <br />$45.8 million ($35 million construction costs), or $327,786 per unit. <br />$490,000 = Park Dedication Fees. <br />Planning Commission Recommendation: <br />The Planning Commission reviewed at their November 2, 2022 meeting, recommending <br />Approval. Items which the Commission requested be addressed: <br />1. Snow storage & removal. <br />2. Landscaping (to be reviewed by City Arborist). <br />3. Proof of Parking. Are 198 stalls enough for 140-units, or does proof of parking need to be <br />added on the vacant corner lot. <br />4. Traffic. Not a Traffic Study, but an analysis of what can be expected. <br />5. Exterior lighting. Plans need to be revised to reduce light trespass such that it is compliant <br />with City Code. <br />Staff Recommendation: <br />1. Conduct Public Hearing, First Reading & Introduction of Ordinance 998. <br />2. Continue Public Hearings (or close), for; Resolution 9653, Preliminary Plat of WOODALE <br />APARETMENTS; Resolution 9654, PUD for Woodale Apartments; and Development <br />Review <br />In order for the project to be approved, it must be zoned appropriately. The rezoning cannot <br />occur until the Second Reading (December 271"). Tabling action until December 2711 will allow <br />action to occur sequentially. <br />A Public Hearing Notice was published by the Shoreview Press on October 25, 2022, and <br />mailed to property owners within 350' of the project.49 Because Staff anticipates a larger <br />interest in the project than is typical, Public Hearing Notices were mailed to additional property <br />owners bounded by Mounds View Boulevard, Woodale Drive, and Edgewood Drive (e.g. the <br />neighborhood). <br />City Council <br />Work Session <br />Planning <br />Commission <br />City Council <br />1st Reading <br />City Council 2nd <br />Reading <br />Economic <br />Development <br />Authority <br />Concept Plan <br />08-01-2022 <br />- <br />- <br />- <br />- <br />Zoning Map Amendment <br />11-07-2022 <br />11-02-2022 <br />12-12-2022 <br />12-27-2022 <br />- <br />Subdivision — Preliminary Plat <br />11-02-2022 <br />- <br />12-27-2022 <br />- <br />Subdivision — Final Plat <br />- <br />- <br />TBD <br />- <br />CUP for PUD <br />11-02-2022 <br />- <br />12-27-2022 <br />- <br />Development Review <br />11-02-2022 <br />- <br />12-27-2022 <br />- <br />Pre -Development Agreement <br />- <br />- <br />- <br />- <br />11-28-2022 <br />Conduit Bond <br />11-28-2022 <br />TIF <br />- <br />- <br />- <br />- <br />TBD <br />49 MN Statute 462.357; Subd 3 (Official Controls: Zoning Ordinance; Public Hearings) <br />I fie IVIOUF]Ub vleW VlblUFI <br />A Thriving Desirable Community <br />