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City Council Regular Meeting Minutes October 26, 2021 Page 2 2 Councilmember Webster stated she will be abstaining from discussion on this resolution due to 3 potential or perceived conflict of interest. m 5 Mr. Grittman reviewed the Applicants are Interstate Development, with Bremer Bank, and co- 6 applicant City of St. Anthony Village. The project involves applying a PUD zoning district over 7 the 3 subject parcels, two of which are owned by Bremer Bank, and one of which is owned by 8 the City. Interstate proposes to construct a new bank facility for Bremer on the City's `old 9 bowling alley" site. Once that construction is completed, Bremer would relocate from its existing 10 building to the new site. At that point, Interstate would undertake demolition o the old Bremer 11 building and construct a new 76-unit multi -family structure on the property. As a part of the 12 three-way transaction, the City would take control of the small triangle at 2534 Kenzie, currently 13 vacant. Final action on the land transfers would occur as a condition of Final PUD approval. The 14 City has discussed, in concept, ideas relating to City entrance monumentation on that site. Future 15 development opportunities are not clear. The project received Preliminary Plan PUD approval at 16 the City Council meeting on September 14, 2021. A series of conditions were included in the 17 Council's Preliminary Plan approval, and are reviewed as a part of the Final Plan PUD 18 submission. 19 20 Staff has reviewed the project for land use compliance with the intent and policies of the City's 21 Comprehensive Plan, and for zoning consistency with the C, Commercial and R-4, Multiple 22 Family Residential Districts as baselines. In summary, the Comprehensive Plan promotes use of 23 the subject properties that reflect the proposed uses of commercial and high -density multiple 24 family residential uses of up to 40 units per acre. 25 26 Staff believes that the flexibility requested under the PUD is appropriate, given the objectives of 27 the Comprehensive Plan and the related improvements and amenities proposed as part of the 28 project. Staff is recommending approval of the Final Plan stage of the PUD for Bremer Bank at 29 2654 Kenzie Terrace and Interstate Development at 2410 Lowry Avenue NE, incorporating the 30 transfer of 2534 Kenzie Terrace to the City. 31 32 The standard of review for Final Plan PUD is whether the applicant has satisfied the conditions 33 attached to the Preliminary Plan PUD approval. Staff comment is provided for each of the 34 conditions, which are separated by the applicable site, and some of which are listed with both 35 project sites as they apply generally to the PUD. 36 37 The proposed redevelopment project is considered consistent with the City's 2040 38 Comprehensive Plan. 39 40 Interstate's goal is to create workforce attainable housing without the utilization of TIF, grants, 41 tax credits or subsidy from government and nongovernment agencies. Interstate is currently 42 targeting rents ranging from $1,300/month for a 1-bedroom unit and $2,350 for a 3-bedroom 43 unit. 44