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CCP 04-24-2006
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CCP 04-24-2006
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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br /> <br />~ <br />EN HILLS <br /> <br /> <br />MEMORANDUM <br /> <br />DATE: <br /> <br />Agenda Item: 7 C <br /> <br />April 20, 2006 <br /> <br />TO: <br /> <br />Mayor and City Council <br />Michelle Wolfe, City Administrator <br /> <br />Karen Barton, Community Devclopmcnt Director~~~ <br /> <br />FROM: <br /> <br />SUBJECT: <br /> <br />Application for Brownfield Grants on behalf of Chesapeake Companies lor the <br />Property loeated at 1901 Gateway Blvd (Iolmer A TS site) <br /> <br />Background <br /> <br />ln 2001, Chesapeake Companies received approval for a Master Planned Unit Development at <br />1901 Gatcway Boulevard. Since that timc, chesapeakc has had to request several extensions of <br />the PUD due to difficulty in finding an interested buyer or major tenant lor the site. In an efli:l1i <br />to avoid having to requcst another extension, Chesapeake has opted to demo the site and build a <br />spec building based on concept plans approved in the Master PUD. <br /> <br />In preparation lor demolition, Chesapeake becamc aware of soil contamination, in thc form of <br />fly-ash, directly beneath the former A TS building. Upon further invcstigation, it was dctcrmined <br />that thc cost to remediate the site would be approximately $1,500,000.00. In March of this year, <br />Chesapcake also became aware of a number of grant opportunities through the State and the <br />County to help offset thc cost of this clean-up. However, the grant applications are required to <br />be submitted by either a city, county, HRA, EDA, or Port Authority. Therefore, Chesapeake <br />approached the City to request the City apply for these grants on their behalf. <br /> <br />Discussion <br /> <br />The primary goals for these grants are to I) clcan-up contaminatcd sitcs; and 2) to fostcr <br />redevelopment promoting increased job opportunities and increased tax basc. <br /> <br />Thc DEED grant will pay up to 75% of eligible costs for invcstigation and clean-up, with the <br />remaining 25% to come from matching funds. The Ramsey County grant and the Met Council <br />grant can be used for np to 13% of the required DEED match, with the remaining 12% to 25% <br />coming from, in this case, the City's unrestricted funds. However, it is permissible for the City <br />to rccoup this match through rcimbursement from Chesapeake Companies (the developer). <br />
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