08-07-2023 JDA Agenda Packet - Laserfiche WebLink

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done, he believed there was limited utility. He was of the opinion if staff believed it was useful from time to time to have these meetings open to the public, that would be fine with him. Commissioner Monson stated she supported the meetings continuing as is. However, she also had no problem with the meetings being open to the public. She anticipated that if the meetings were not proving fruitful, that the JDA Advisory Committee meetings could stop. Chair Wicklund stated the consensus of the group was to allow the JDA Advisory Committee to make a determination on whether or not to open the meetings to the public. b. June 9th Meeting Report Director Perrault stated the JDA Advisory Committee met on June 9th, 2023, to discuss updated infrastructure costs, financials and deal points of the MDA related to the Rice Creek Commons development. He explained this meeting was held between JDA Advisory Committee members, staff, members of Alatus, Ehlers and legal representatives. He explained big pictures items were discussed. The timeline of the project was further discussed and it was noted construction may not begin until 2027. He reported the County was seeking outside financing sources for the project. Director Collins reported the County requested $25 million from the State for the build out of the spine road and this would be considered in 2024. Director Perrault indicated Alatus also provided additional density scenarios at 1785, 2050 and 2360 housing units. These scenarios had increased density in the Town Center North and South as well as the possibility of the southwest corner of the development having townhomes. Chair Wicklund encouraged staff to consider building height in conjunction with increased density. Director Perrault stated the price of concrete was quite high, which has led the developer to propose townhomes in the southwest corner because the Town Center was as dense as it could be. Commissioner Monson questioned if the 1460 density could even be reached if the building heights were all reduced. Chair Wicklund asked staff to investigate this further with the developer. Commissioner Monson inquired when a term sheet would be drafted. Director Perrault stated ideally a term sheet would be drafted by the end of the year and this would set the stage for completion of the MDA for next year. Further discussion ensued regarding the process that would be followed with the MDA.