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<br /> I" . <br /> I CITY OF ARDEN HILLS <br /> ~ MEMORANDUM <br /> DATE: October 14, 1997 <br /> I TO: M.yo< ~d Gly C,mll ~ <br /> I FROM: Kevin Ringwald, Community Dcvelopment Direct , ~ <br /> I SUBJECT: Tax Incremcnt Financing (TIF) Update Gateway Business District <br /> Reauest <br /> I The City Staff was informed by the developer on Thursday, October 2, 1997 that due to <br /> unanticipated soil costs that they are requesting an additional $250,000 in Tax Increment <br /> Financing (TIF) dollars for their project. The developer's request is attached to this <br /> I memorandum as Exhibit A. <br /> Backf:round <br /> I The Staff concludes that it is important to review the two basic concepts that have been guiding <br /> this redevelopment project from the beginning. The first concept is that the developer would be <br /> responsible for the acquisition and aggregation of the necessary property for the development. <br /> Ie The City would be responsible for providing the necessary infrastructure and acquisition of <br /> certain peripheral properties. The second concept is that the developer would construct high <br /> I quality office/manufacturing/warehouse buildings, but not all brick, stone, and glass as required <br /> by the Zoning Ordinance. Given, that the buildings were going to less than what is required by <br /> the Zoning Ordinance the City would not be providing the developer with any TIF dollars. It <br /> I would appear that the developer is now requesting TIF, but not providing for code consistent <br /> buildings. <br /> I The developer indicated to Staff when we met on Thursday, October 2,1997 that within the past <br /> ten days that they had learned that the soils on the site, and in particular the City parcel, were <br /> significantly worse than they had anticipated. The developer has provided the soil borings for <br /> I the project to the City on Monday, October 6,1997 (Phase II, dated February 20,1997; Phase III, <br /> dated August 20, 1997; and Phase IV, dated August 25, 1997). The Staff had previously <br /> provided the developer with a copy of soil reports for the City parcel. These soil reports were <br /> I done in June of 1989 as part of the acquisition and demolition on what was then the Darling <br /> parcel. At that time, the City had twelve soil borings done on various portions of the site. <br /> I Subsequently, the developer has had an additional eleven soil borings done on various portions <br /> of the site. In reviewing the soil borings done by the City in 1989 to those done by the developer <br /> in 1997 there does not appear to be a significant difference in information that is being portrayed. <br /> I <br /> tI <br /> I <br />