2012.10.08 EDA Packet - Laserfiche WebLink

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proposed development. Staff would like feedback from the EDA about the location and financing of this road. Financing of Road Construction The financial aspect of the road construction required for this proposal is a main concern that the developer has. Road construction will be a vital piece of this development and the financial responsibility is a topic that needs to be discussed. The developer is looking for feedback from the EDA on various ways to fund the road construction of the project. The developer intends to extend Finale Avenue to the south to connect with Frenchman Road. A vacant piece of land needs to be acquired to accommodate this extension. Currently, this road is in extensive need of repairs and will need to be improved to adequately serve the development. Staff is hoping to get feedback from the EDA on the financial responsibility of the developer about repairing this road. The extension of 147`x' Street to Oneka Parkway is a vital construction piece that needs to be discussed in terms of financing. This road extension is a part of the City's Comprehensive Transportation Plan and needs to be addressed to determine appropriate phasing of its construction. The developer has stated that he would like City aid in paying for this road. Staff would like feedback from the EDA on possible financing and phasing options for this road extension. 4. CONCLUSION/RECOMMENDATION: Bill Lentsch and his development team have done a good job creating a basic concept plan for the EDA to comment on. Staff recommends that the EDA provide feedback on the concept plan to Bill Lentsch. Below are areas Mr. Lentsch would like feedback on: 1. General Layout 2. Lions Park Expansion 3. Type of housing desired for the development 4. Road Construction 5. Financing of Road Construction ATTACHMENTS: 1. Location Map 2. Engineers Memo dated September 12, 2012 3. LaValle Properties Concept Plan 4. Downtown Plan 5. Lions Park Concept Plan Page 14