1C, Former City Hall Property-Public Works Property

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Property Appraisal The most recent appraisal of the property was completed on January 28,2006, which set a value of $2,375,000 based on a highest and best use oflimited business development (Attachment B). Due to changing market conditions and depending on the uses and design criteria in an RFP, the January 2006 appraisal will likely no longer be applicable. The value of the land will be impacted by the types of uses the City wants on the land as well as current market conditions. Once the RFP is prepared, a new appraisal can be ordered to help evaluate responses to the RFP. October 27, 2007, Joint Planninl! Commission/City Council Brainstorminl! Session In October 2007, the Planning Commission and City Council provided feedback on the property's redevelopment at a brainstorming session (Attachment C). At this session, the group generated a list of ideas about how the property should or should not be used. There were also a number of open questions posed at the meeting: 1. What is the future of Hamline Avenue? Based on discussions with Ramsey County, there are not any plans to ehange or widen Hamline Avenue that would increase capaeity. Preliminary plans for the reconstruction of Interstate 694 call for removal of the access to Hamline Avenue. As stated previously, it is not possible to place a stop light at a potential entrance onto Hamline Avenue from the City property due to the proximity of the stop light at Hamline A venue and Highway 96. The primary capaeity and access issues are during the peak AM and PM hours. 2. How would different land uses impact traffic? Generally speaking, office uses tend to produce more traffic during peak AM and PM hours; however, they produce less traffic during the regular work day and very little at night and on weekends. Residential uses are somewhat based on peak times as people leave for work and come home; however, they tend to have a more even traffic flow over time and tend to produce less traffic than offiee or commercial uses. Finally, retail uses are loosely tied to peak hours during the weekday but with less of an impact during the peak hours. Depending on the type of retail, it can eontribute to night and weekend traffic. 3. What is the tax impact of different land uses? All other things being equal, commercial uses are taxed at a much higher rate than most residential uses (rental apartment buildings are classified as a commereial use for tax purposes). For example, based on 2006 tax rates, a housing development worth $500,000 has a $5,000 tax capacity while a $500,000 commercial development has a $9,250 tax capacity. City of Arden Hills City Council Work Session for October 22, 2007 IlMetro-inet.uslardenhillslPlanninglDevelopment ProjectslFonner City Hall~Public Works Site Reuse\021908 - CC Work Session - Old City HallRFP.doc Page 4 00