PCP 11-01-2006 - Laserfiche WebLink

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. ~ ~ EN HILLS MEMORANDUM DATE: October 24,2006 PC Agenda Item 4.C TO: Planning Commission FROM: Karen Barton, Community Development Director SUBJECT: TCAAP Update In an effort to keep the Planning Commission up to speed with TCAAP events, I would like to provide you with a brief update. As you are aware, the City submitted a signed Offer to Purchase (OTP) and earnest money deposit on August 1,2006. This was a crucial deadline because the General Services Administration's (GSA) appraisal was set . to expire on that date. If the appraisal expired prior to our submitting a signed OTP, the GSA had stated that they would not seek a new appraisal and therefore, the property would be sold at public auction. The GSA must get Congressional approval of the OTP, which was originally required to oceur by November 1,2006. Presently, the GSA has requested an extension of that deadline to January 16,2007. The closing is anticipated to take place in the Fall of 2007. In the meantime, the Master Developer, CRR and the City have been working feverishly behind the scenes to get everything in place prior to closing: . CRR and the City have formed a team of consultants to refine the Master Development Plan (based on the Framework Vision), prepare the Traffic Study, Alternative Urban Areawide Review (ADAR), Landscape Architecture plans, Comprehensive Plan Amendment, and PUD for the project. . The City is currently working with Ehlers and another consultant to determine eligibility of the property as a Tax Increment Finance (TIF) redevelopment district based on conditions of blight. . The City has contracted with Steve Bubul of Kennedy and Graven to prepare a Preliminary Development Agreement with CRR and expect to have one in place before the end of the year. . The City, CRR, the GSA, Army, MPCA, and EPA will be meeting November 7 and 8 to discuss the Finding of Suitability for Early Transfer (FOSET), Finding of Suitability for Transfer (FaST), and Response Action Agreement (RAA) documents, and begin negotiations for clean-up. . CRR is conducting additional characterization of the property and will be working with the City to contract for environmental insurance for the clean-up. Things have been moving fast and furiously over the past several months and will continue to throughout 2007. And as with any real estate deal, things are always tenuous right up until closing. We will keep you . posted as more information becomes available. But, of course, please feel free to call or email me anytime for an update or if you have questions.