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EHLERS '., & ASSOCIATES INC OTo: Mike Morrison,City Manager/Sue Hall,Assistant City Manager From: Jim Prosser,Ehlers&Associates W Date: November 29, 2002 Subject: Project Update Project Planning Pratt-Ordway is preparing a refined development program for the Northwest Quadrant area. The development program reflects the type of uses(type of residential,retail and office)that best matches the program guidelines established by the City, current market conditions and financial feasibility. The program is similar,but more detailed,than the information previously provided by Pratt- Ordway. This information will be shared with the Northwest Quadrant Steering Committee. John Shardlow from DSU,to develop refined site plan guidelines. These guidelines will be used by the developer to prepare a refined site plan that is consistent with St. Anthony development goals. The refined site plan is scheduled to be presented to the community at an Open House on Thursday, January 16,2003,from 5 to 8 p.m. at St.Anthony City Hall/Community Center for comments prior to finalizing for presentation to the City Council. Project Communications An update for the newsletter and newspapers will be prepared once Pratt-Ordway completes the plan refinement. Pratt-Ordway will be seeking input from the public prior to submitting the refined plan to the City for consideration with the final development agreement. Project Funding Metropolitan Council did not award Livable Community Demonstration Account(LCDA)funds to St. Anthony in the current funding cycle. Met Council indicated continued support for this project as a designated"Opportunity Site". No Opportunity Sites were funded this cycle. The Met Council indicates that funding is more likely to occur after a final refined site plan and financing plan has been prepared by the developer and approved by the City. The City continues to seek funding partners to assist with the transportation and communications innovations planned for the site. The University of Minnesota Center has indicated interest in working with the City to obtain special funding for these types of improvements. Pratt-Ordway is preparing an option that will permit the project to be constructed in phases without outside funding for the first phase. This phase would primarily include the Apache Mall area. Pratt- Ordway is close to securing an option to purchase the Apache Mall. Tax Increment Financing Given the likelihood that tax increment financing(TIF)assistance will be requested by the developer, Ehlers recommends that St.Anthony initiate an assessment to determine if the site would qualify as a LEADERS IN PUBLIC FINANCE 3060 Centre Pointe Drive Phone: 651-697-8503 Fax: 651-697-8555 Roseville, MN 55113-1105 Email: jim @ehlers- inc.com