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<br /> <br />Page 2 of 2 <br /> <br />access. If the Hamline Avenue access is retained, a right-hand turn lane or other traffic <br />safety measure may be necessary. <br /> Given the previous use, the environmental condition of the site is somewhat uncertain. A <br />leaking underground storage tank was removed and abated several years ago. It is <br />believed, however, that road construction materials and street sweepings may have been <br />deposited on the site. Additional environmental mitigation may be necessary. <br /> The site would likely have more value for retail or office use following the development <br />of residential units on TCAAP. <br /> <br />Market Feedback <br />In 2011, the City received feedback on the parcel from a developer panel. Although the market <br />has improved in the last four years, most of the developer feedback remains relevant: <br /> Given access challenges and the relatively few surrounding households, the site is not <br />appropriate for retail development. <br /> The site is too small to support an apartment development that is large enough (200 units) <br />to attract an institutional investor. <br /> An office use would theoretically work on the site, but would probably only occur in a <br />very active office market with low vacancy rates. <br /> Townhomes similar to what is built to the south are the most probable use for the site. <br /> A sale is most likely to occur if site challenges (access, use, environmental concerns) <br />have been resolved prior to marketing the site. <br /> Depending on the strength of the market, the City may want to hire a broker. <br /> <br />Discussion Questions <br /> <br />1. Does the City Council want to move forward with marketing the site? If so, what is <br />the Council consensus on land use and access? <br /> <br />2. In order to position the site for sale, does the Council want to rezone the site or <br />investigate/mitigate any environmental issues? <br /> <br />3. Once TCAAP develops, additional space for Public Works equipment storage will be <br />necessary. Does the Council want to retain any part of the site for that purpose, or <br />should a more suitable site be secured? <br /> <br />4. What type of community outreach or public participation process is appropriate and <br />when should that occur? <br /> <br />5. Would the City Council consider hiring a real estate broker for the Old City Hall site? <br /> <br />Attachments <br /> Site Map