HRA MINUTES 07281992 - Laserfiche WebLink

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I REGULAR H.R.A. MEETING 2 JULY 28, 1992 3 PAGE 2 4 5 6 The Executive Director explained that the Kenzie Terrace Tax Increment 7 District which includes the Kenzington, the Walker, and Autumn Woods 8 housing projects is a very healthy redevelopment district with an anti - 9 cipated payback in twelve years as compared to other districts with 25 10 year paybacks. Using approximately $1,000,000.00 out of the District 11 to buy additional land, redesign roads and water and sewer lines in 12 the acquired property is a justifiable use of those moneys the Executive 13 Director said and it will only extend the District for six months. 14 15 Mr. Burt indicated he was sorry some the City residents who would have 16 been the most affected by the improvements had left when Mayor Ranallo 17 had recessed the Council meeting for•the H.R.A. meeting even though the 18 Mayor had announced the Council meeting would be resumed after related 19 matters had been taken care by the H. R. A. 20 21 The Executive Director reported the City had sent notices of the proposed 22 action to School District #282 and to Hennepin County as required by law. 23 He indicated the only response had come from.Henne Pin County Commissioner 24 Judy Makowske who had told him the Plan had been discussed at the County 25 level and indicated that she agreed with that proposal. The 90 days re - 26 sponse time had expired with no further input from the school district or 27 county. 28 •29 Chairman Ranallo asked whether the District would get back the costs 30 of acquiring the two cafe properties. Mr. Burt said the proposed road 31 alignment would run right through the Good Luck property so there would be 32 no return on that property and the Rosie's site is going to be rezoned' 33 from Commercial to Residential to blend in better with the surrour ".ng 34 residential properties. He added that clearly the return on the s...e 35 of residential would be nowhere near what it would be for commercial 36 property. The Planning Commission had even suggested holding the sites 37 for ponding but the available area would never even help with the size of 38 a pond needed to store runoff storm water from the South End. 39 40 A good deal of interest in developing the acquired property has been 41 shown, from a hospice which would be a Commercial use and unacceptable, 42 to people who would like to build a home there. The Planning Commission 43 has already perceived the need to restrict the type of home which might 44 be built on the acquired property in regard to dollar value and building 45 height. They perceived a rambler would be better than a two story 46 structure where the inhabitants would be looking down on the Stonehouse. 47 48 Motion by Wagner, seconded by Enrooth to adopt HRA Resolution 1992-04 49 which approves 1992 B Amendments to the Kenzie Terrace Redevelopment Plan 50 and the Kenzie Terrace Tax Increment Financing Plan and requests approval 51 of the City of St. Anthony Council. 52