Laserfiche WebLink
Chair Wicklund questioned how the negotiations with Alatus occurred. Director Mitchell <br />reported the JDA Advisory Commission has been meeting weekly for the past several weeks <br />with the developer, staff and attorneys. <br /> <br />Commissioner McGuire thanked staff for the detailed presentation. <br /> <br />Commissioner Jebens-Singh discussed how complicated this project was and explained she truly <br />appreciated all of staff’s efforts on the term sheet. Director Mitchell reported there were a lot <br />of core items that were being addressed that were interrelated and staff would continue to <br />work through these items. <br /> <br />d. Review Road Map <br /> <br />Director Mitchell reviewed the updated road map with the JDA noting the JDA Advisory <br />Committee would be meeting on June 4 and June 18. <br /> <br />Commissioner McGuire asked when the next JDA workshop meeting would be held. <br /> <br />Chair Wicklund suggested this meeting be held on August 4. <br /> <br />e. Receive Alatus Presentation <br /> <br />Director Mitchell stated Alatus has requested to present to the JDA on the following topics: <br /> <br />• Reasoning behind Alatus proposal to privately fund the mass grading for site and how <br />they see it coming together. <br />• Review the value creation and timing worksheet provided to the advisory group. <br />• Housing affordability and current discussions with Habitat for Humanity. <br />• Alatus’s desire to get to a definitive development agreement and purchase agreement <br />for the property so they can start the mass grading in 2025. <br /> <br />Bob Lux, Alatus, thanked the JDA for allowing him to make a presentation. He discussed how he <br />believes this was one of the most important projects and opportunities he would ever have an <br />opportunity to work on. He discussed how Alatus was chosen in 2016 for this project based on <br />its vision for this development which included a dense town center, populated with a variety of <br />housing types with a variety of affordability. He commented on the agreement that was <br />reached for structured parking. He was pleased to report the TRC works for the development <br />as proposed, but commented on how a lot of the work he has to complete was front end <br />loaded. <br /> <br />Mr. Lux discussed the affordability guidelines that would be followed within the development. <br />He described a recent housing project he completed in St. Paul and invited the JDA to tour this <br />LIHTC (low-income housing tax credit) affordable housing project. Mr. Lux commented on the