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<br />Memo to City Council <br />Redevelopment Direction <br />July 16, 2004 <br />2 <br /> <br />. <br /> <br />Some ofthe policy questions for the Council are: <br /> <br />. <br /> <br />Is the redevelopment of the old city hall site a priority? <br />Does the Council want the Planning Commission to evaluate the zoning? <br />Does the Council want a formal RFP done as the solicitation process? (Staff is <br />currently following-up on inquiries.) <br />What is the desired end land use for the property (residential, medical, private <br />school, retail, office, etc.)? <br />Are there projects in the Twin Cities that the COUllcil likes as a model for this <br />property? <br />Does the Council want a formal appraisal for the site? <br />Would any level of City assistance be available for redevelopment? <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />If Council's direction is to move forward, staff will prepare a more formal work plan, including <br />budget estimates for up-front costs. The key decision seemingly centers on the desired end result <br />and the overall redevelopment objectives. <br /> <br />Finally, a Council Member wanted information regarding projected tax generation for selected <br />types of uses. The following illustrates tax generation as taken from the League of Minnesota <br />Cities "tax calcuhltor." These tax figures should be viewed as approximates and the end uses for <br />the property are also an approximation. <br /> <br />. <br /> <br />45 Townhomes (7 units/acre @ $300,000); Total tax $151,920; City portion $32,310 <br /> <br />Retail (50,000 sq.ft. @$60); Total tax $97,295; City portion $14,179 <br /> <br /> <br />Office (50,000 sq.ft. @ $100); Total tax $162,965; City portion $23,751 <br /> <br />Indvkiewicz Property <br />This property was recently discussed by thc City Council and staff has included with this report a <br />memorandum dat'ed March 4, 2004, from Aaron Parish to the Council. The report was generated <br />as a response to the Frauenshuh Companies submitting a property offer of $71 1,700 to the City <br />to construct a gas/convenience store. Council directed that a new appraisal be conducted on the <br />property with the,'results showing a value of $1 ,01 0,000. A counteroffer was made to Frauenshuh <br />on April 9, 2004., At that time Frauenshuh's client abandoned the project since the offer price <br />would have economically required them to build not only a convenience store but a 20,000 <br />square foot retail pad on the west end of the property, which was not their business model. <br />Policy questions for the Council are: <br /> <br />Is the selling of this property a top priority for the Council? <br />Does the Council want to continue negotiations with Frauenshuh? <br />If the aforementioned proposal is not the direction, what outcomes does the <br />Council want on the property, i.e., is a gas/convenience store an appropriate land <br /> <br />. <br /> <br />. <br />