2015.02.10 EDA Agenda Packet - Laserfiche WebLink

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City Owned Property Action Plan ** Below is a list of potential criteria to sell the City property for $1.00. Staff recommends the EDA review the items and select, delete, or add to the list at the meeting. Development Criteria Items that need to be accomplished in order for the reduction on the purchase price to occur: 1. The entire property shall be purchased and developed. 2. Commitment that all phases will be completed within 5 years. 3. The project shall meet the Downtown Plan and Design Guidelines 4. The project shall include an entertainment, hospitality, and/or restaurant use and may contain a smaller retail/service or housing component. 5. The project shall use high quality materials and a unique, articulated design. 6. The project shall have a cohesive and unified overall design. 7. The project shall include a streetscape that is unique to downtown. 8. The project shall include a public amenity or public gathering space. 9. The project shall include trail and sidewalk connections. This should include a trail along Egg Lake. 10. The project shall include shared parking and a portion of public parking. 11. The project shall preserve public view sheds of the lake. 12. Setting a minimum square footage for the buildings in the development, such as, the project shall include a minimum of 50,000 square feet of building. 13. Setting a minimum project value, such as, the project value shall be a minimum of $8,000,000.00. Marketing Plan ✓ Property Control ✓ Proper Zoning ✓ Community Input o Create a summary of financing options • Development Criteria o Put together a marketing brochure • Site Features • Development Criteria • Benefits • Area Highlights • Fast Facts • Area Demographics, etc. o Reach out to brokers • MNCAR, EDAM, MSCA • Put on various websites • Email blast and mailing • Set up meeting with commercial brokers