CCP 10-14-1997 - Laserfiche WebLink

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< im!II Companies Comprehensive Real Estate Serv ices ~ .00 N ormandale Boulevard, Sui te 200 \-+--.-q~<j'7 innca.polis, Minnesota 55437~ 1060 612.897.7700 Fax897.7704 BlI Facsimile 633-7839 Memo Dale: October 14, 1997 TO: Kevin Ringwald, AICP, City of Arden Hills FROM: Dick Zehring, Welsh Development Company, LLC REF: Arden Hills Gateway Business District - Phases , Ul and RE: Request in Connection with Tax Increment Financmg The proposed adjustments to the Tax Increment Financing Plan which will be presented to the . City Council at its Special Meeting this evening, include two primary components: 1) Exterior Upgrades. From the beginning of our work on this project almost two years ago, you, Brian, the Mayor and Council and Welsh Development have all discussed at length and reviewed numerous exterior design and finish plans. Also from the beginning, we, as developer, found it necessary to request certain variances from the strict provisions of the Gateway Business District code provisions in connection with exterior materials, because of the high cost of the materials specified, particularly in connection with the development of anything other than mid-rise or high-rise office projects. In any event, over the last several months we have come upon what is a very respectable mutual understanding regarding quality of the exterior vs. cost, and the City Council has been very reasonable in those ongoing discussions, culminating in the final variances which have been granted. It has also been suggested, however, in the last few days, in connection with our request for relief from extraordinary soil corrections costs (particularly in regard to the City's own parcel), that it might be an appropriate time to also consider upgrading the design and materials of the exterior of Phases !l, 1Il and IV at the same time. We are herewith presenting to you, for your approval and for presentation (we believe, with pride) to the City Council this evening, the drawings of the substantially upgraded and beautified appearance of the Phase!l, 1Il and N buildings. Please note that the drawings provided show substantial additional brick work, including volume of brick, height of brick, and design and detailing of the brick as compared to our previous drawings. . We believe that, together with the soils correction relief, a total additional commitment of tax increment funding in the amount of approximately $500,000 would be sufficient to cover not