06-20-18 JDA Agenda Packet - Laserfiche WebLink

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the development based on the results of the study. He reviewed the recommendations from the study and asked for comments or questions from the JDA. Chair Wicklund thanked staff for the report. Master Development Agreement Director Olson provided the JDA with an update on the Master Development Agreement (MDA). He discussed the history of this project and noted in 2016 the County received a certification of completion from the MPCA for the remediation work on the TCAAP site. He explained a lot of work has been done for this project both by the City and the County. He noted this was the largest redevelopment project in the metro area and was now ready to begin. He indicated this project had an assessable market value of $700 million and would create 1,000 jobs. He discussed the amount of work that has been completed on the roadways in order to provide access to the site. He reported Alatus would focus on the Town Center area first in order to spur development on the site. He explained the MDA must be approved by the JDA, the County Board and the City of Arden Hills. Director Olson then reviewed the plans for TCAAP/Rice Creek Commons in further detail noting the thumb portion of the site was ready for redevelopment at this time. He discussed the plans for this area noting there was a commercial node that would be anchored by a grocer. He reviewed the items that would be completed in Phase I of the project noting this would include the Spine Road, the natural resources corridor, Town Center roads, and a ring road that connects to the Spine Road. He noted this includes 73 acres of land. He commented the Civic Block would be included in Phase I. Louis Jambois, Ramsey County Consultant, discussed the next steps for the project, which would include structured land acquisitions from Ramsey County to Alatus. He explained these land acquisitions would be phased in a rationale manner to achieve fair market sales for the property. He reported the developer would be able to purchase future phases in a timely manner if performing well within the development. He indicated Phase I of this project would be the largest at 73 acres. He noted the major expenses included in Phase I of this project were mass grading and infrastructure. He commented further on the performance standards that were drafted into the MDA. He explained site design would be completed in 2018 and 2019 with mass grading and infrastructure beginning in 2020. Commissioner Grant requested further information on how the developer would be held to the proposed performance standards and how the City of Arden Hills would be protected. Mr. Jambois discussed the upfront costs the developer would be investing in the project and how these fund would be utilized to ensure the developer was achieving the MDA vision. He noted the City would be protected by the work that has been done to date. Commissioner Grant thanked the developer along with the JDA and County staff for all of their work on the MDA. He discussed the 429 assessment process and questioned if the City would