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AGENDA ITEM — 3A <br />,-ARZEN HILLS <br />MEMORANDUM <br />DATE: April 22, 2024 <br />TO: EDA President and Commissioners <br />FROM: Dave Perrault, City Administrator <br />SUBJECT: Development Tools Discussion <br />Budgeted Amount: Actual Amount: Funding Source: <br />N/A N/A N/A <br />EDA President and Commissioners Should Consider <br />The EDA President and Commissioners should discuss and provide direction on the use of <br />development tools available to the EDA and City. <br />Background <br />Both the EDA and City have a variety of tools available to assist or spur development and re- <br />development within the City. The EDA and City may consider whether or not it wants to use any <br />of its tools from time to time on large scale City projects or more targeted projects. Currently, Staff <br />is in the process of an RFP for an ordinance update, as well as, working on a variety of other <br />development and zoning projects in the City. Staff believes it does not have the bandwidth for <br />additional large-scale projects but could undertake more targeted projects that may need <br />development assistance. One such project would be the Pace Site at 3737 Lexington Avenue and <br />1133 Grey Fox Road. This site has seen a number of proposals in recent years, but for one reason <br />or another has not seen redevelopment. These two parcels fall under the B-3 Zoning District. In <br />the Comprehensive Plan, it notes this area should have a small area plan developed to facilitate <br />future development. As Staff mentioned, there is not the resources to work on a small area plan <br />this year, but if the EDA wanted to look at the Pace site specifically Staff could begin to have <br />preliminary conversations on what potential redevelopment would look like on the site. <br />If the EDA wants to take a proactive approach to the Pace Site, Staff would recommend the EDA <br />direct Staff to work with the site owner's representative and the City's financial advisor on what <br />could be done on the site and what tools would be available. The EDA may want to designate one <br />or two members to also work with Staff to provide any preliminary EDA insight/guidance. <br />Page 1 of 2 <br />