HomeMy WebLinkAbout2015.04.06 CC PowerPoint Marketing City PropertiesHugo City Council
Marketing of the
City Owned Property
Monday, April 6, 2015
City of
ugo
Background
• Over the past several years the City has been acquiring
property in downtown for the purpose of
redevelopment of the area.
• Most recently the City acquired the former antique
store and Carpenter's restaurant property.
• The EDA has been marketing the property in several
ways:
➢City website
➢Marketing flyers
➢Signage
➢Sending information to commercial brokers
➢Meeting with interested parties
➢Hiring a realtor
➢Commercial listing sites, cold calls, etc.
St. Paul Port Authority
• SPPA specializes in economic development
• Meeting in January
• They provided us with specific steps they go through in
selling and developing properties.
1. Site control
2. Zoning
3. Community input
4. Financing options for developers
5. Marketing brochure
6. Reach out to brokers
• What we learned? The City has been doing a lot of the
right things and is pretty well situated.
Marketing Discussions at the EDA
•The EDA has discussed other ways to market the
property.
• An idea they have been discussing is providing
incentives that would be based on the project
meeting certain development criteria.
•The EDA has stated that the property could be sold
for a reduced price, or even fora $1, for the right
project.
Development Criteria
• Suggested development criteria of desired elements for the
redevelopment of the City owned property. A development
project that meets the criteria is eligible to purchase the
property for $1.00, subject to City approval.
1. A full service restaurant or some form of event center or family
entertainment venue, situated so that the customers and public
will benefit from views over the lake. Secondary retail, service
and housing uses may be considered.
2. A development and phasing plan is required with all
development complete within 3 years.
3. Quality architecture, building materials, and site design,
exceeding requirements of the Downtown Design Guidelines.
4. Construction of public amenities, including pedestrian
connections, a gathering place near Egg Lake, and public
parking.
Next Steps
• Try a new way to market the City owned property
• Create a marketing brochure
• Describe incentives
• Outlining development criteria
• Outline development incentives what we already have in
place in downtown
• Reach out to brokers
• MNCAR, EDAM, MN Shopping Centers Association, etc
Conclusion
• Staff recommends the City Council discuss the incentive
and development criteria provided by the EDA.
• Staff recommends the City Council provide comments
and make a recommendation on the incentive package.