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<br />.. .. S)~ ~~ <br />- 31\'71~'7~\ <br /> CITY OF ARDEN HILLS <br />- ~f~Sl~~ <br /> MEMORANDUM r I Lt: <br />e <br /> .ATE: March 17, 1997 <br />- Te: Mayor and City Council <br /> Fft.eM: Kevin Ringwald, Community Development Director ~ <br /> SU.JECT: Gateway Business District - Discussion Outline <br />- <br />- I. Financing <br />- A. GBD pace of development in 1997: <br /> 1. Phase I (155,000 square feet) is under construction (highly probable); <br />I 2. Phase II (115,000 square feet) is in for City review (probable); and <br /> 3. Phase III (110,000 square feet) is in concept stage (speculative). <br />I B. Range of available bonding dollars in 1997 via future TIF streams: <br /> 1. Phase I is $1,281,600 to $1,555,589 (highly probable); <br />. 2. Phases I and II is $2,239,765 to $2,727,653 (probable); and <br /> 3. Phases I, II, and III is $3,062,310 to $3,740,466 (speculative). <br />I. C. Use of interim financing: <br /> 1. Facilitate Phase II via acquisition of Naegele and Zafke strips ($50K); or <br /> 2. Other acquisitions; <br />. 3. Road improvements; <br /> 4. Legislature? <br />I D. Permanent financing: <br /> 1. Bond or not to bond; <br /> 2. If bonding, then to what level (ie., Phase I vs Phases I and II); <br />I 3. Commitment to improvements; and <br /> 4. Prioritization of improvements. <br />I II. Welsh Companies - Phase II <br /> A. Property: <br />I 1. Pentair (Welsh purchased); <br /> 2. Naegele strips (City to purchase and resell to Welsh) <br /> a. Affect oflack of property control on application; and <br />I 3. Naegele property (ponding easement for City storm drain). <br /> B. Vacation of Butcher's Street: <br />. 1. Provision of access to Harstad (temporary/permanent); <br /> 2. Provision of access to Truhler/Zafke (temporary); and <br />.e 3. Provision of access to Vaughn (permanent). <br />I <br /> -------- ------------ ------------ -- <br />