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HomeMy WebLinkAbout10-05-15 JDA AGENDA Monday, October 5, 2015 5:30 p.m. Arden Hills City Hall—Council Chambers 1. Roll Call 2. Approval of Agenda 3. Approval of Minutes, 9/14/15 4. Public Inquiries/Informational a. The intent of the Public Inquiries/Informational part of the agenda is to provide interested parties with an opportunity to speak to the JDA about an issue or concern about a past or future agenda item. The current agenda for tonight's meeting is structured to ensure that the JDA accomplishes their business within that agenda. If there is a public hearing scheduled as an agenda item, the public will be invited to speak to that agenda item. In addressing the JDA, please state your name and address for the record, and a brief summary of the specific matter being addressed. To allow adequate time for each person wishing to address the JDA, individuals should limit their comments to three (3) minutes. Written documents may be distributed to the JDA prior to the meeting, or as bench copies, to allow a more timely presentation. 5. Consent Agenda 6. Old Business 7. Public Hearing a. None 8. New Business a. Governance overview – Michael Norton, JDA Attorney – No materials in packet 9. Development Director’s Report – Attached 10. Administrative Director’s Report – Verbal 11. Commissioner Updates Joint Development Authority TCAAP Redevelopment Project 12. Adjournment Joint Development Authority Monday, September 14, 2015 Arden Hills City Council Chambers Minutes 5:30 pm Present: Joint Development Authority: Chair David Sand, Commissioner Blake Huffman, Commissioner David Grant, Commissioner Rafael Ortega Absent: Commissioner Brenda Holden Also present: Patrick Klaers, Jill Hutmacher, (Arden Hills); Heather Worthington, (Ramsey County) Chair Sand called the meeting to order and roll call was taken at 5:32 pm. Approval of agenda. The agenda was approved by consensus of the Commission. Approval of August 3, 2015 minutes. The minutes were approved by consensus of the Commission. Public Inquiries/Informational None Consent Agenda None Old Business None Public Hearing None New Business Presentation on County Investment in TCAAP Project – Lee Mehrkens, Chief Financial Officer, Ramsey County Lee Mehrkens, Chief Financial Officer with Ramsey County, introduced himself to the JDA. He discussed the cost structure and anticipated revenue streams for the TCAAP project. He believed there were concerns for the current trajectory of costs versus revenue and the need to maximize revenues due to rising project costs. He provided comment on the uniqueness of Rice Creek Commons. He reported that the County had anticipated that the project would break even. The County did not plan to make money on the project. The County was interested in the site increasing its tax base while also providing jobs. He discussed the initial investment that had been made by the County in order to have the site cleaned and prepared for development. Mr. Mehrkens reported that the County would have $67 million invested by the time the spine road was completed. Land sales were anticipated to be approximately $65 million, in addition to other real estate costs that were creating a slight disconnect in the project. He provided further comment on future land sales, transit potential and site density. He discussed how the City’s approved density would impact the County due to reduced land sales, jobs and housing units. He provided further comment on how the County would bond for the project to cover the project costs. Chair Sand thanked Mr. Mehrkens for his presentation. Discussion ensued regarding the County’s additional allocation of funds for the Rice Creek re- meandering, land sale revenues and general expenses for TCAAP. Mr. Mehrkens encouraged the JDA to consider making slight adjustments here or there to assist the County in bringing better alignment to its numbers, both revenues and expenditures, for the project. Commissioner Grant questioned how many jobs the County was hoping to see on the TCAAP site. Ms. Worthington explained the County had a range and had hoped to have 4,000 residents and 4,000 jobs on the site. She provided further comment on how higher density would drive retail and transit investments. Preliminary Design Report Update – Beth Engum and Terry Maurer Beth Engum discussed the Preliminary Design Report for Rice Creek Commons. She reported the improvements at Highway 96 and I-35W would be completed by November of 2015. It was noted these improvements were funded by the state legislature. She then provided comment on the plans for County Road H, the roundabout at this intersection and potential landscape designs for the spine road. The regional transit improvements and pedestrian connections were also discussed. Discussion ensued regarding the roundabout and the re-meandering of the creek. Commissioner Grant asked if the County had considered applying for a grant for the creek re- meandering project. Ms. Engum explained that the project was not the correct fit for the watershed grant, given the fact the re-meander was being completed for transportation purposes. Chair Sand asked if the County would be moving forward with the spine road. Ms. Worthington stated that due to funding issues, staff was not recommending the County Board move forward with the spine road in 2016. Development Director’s Report Development Director Hutmacher reviewed her report and upcoming meeting schedule with the JDA. Administrative Director’s Report Administrative Director Worthington presented the August activity report. She noted the soil remediation work should be complete by the end of October. Commissioner Updates Commissioner Grant asked if the recommendations made by the Energy Resiliency Board were being considered by the County. Ms. Worthington commented that she continued to work with Xcel Energy regarding the potential of having a solar array on TCAAP. Future Meeting Schedule The next meeting will be Monday, October 5, 2015, at Arden Hills City Hall. Meeting adjourned at 6:45 pm. Approved _____________________________________ _______________________ David B. Sand, Chair Date 1 Joint Development Authority TCAAP Redevelopment Project DATE: October 5, 2015 TO: Joint Development Authority Board of Commissioners FROM: Jill Hutmacher, JDA Development Director SUBJECT: Development Director’s Report Budgeted Amount: Actual Amount: Funding Source: n/a n/a n/a The Metropolitan Council has notified the City that its application for the TCAAP Comprehensive Plan Amendment (CPA) is complete. The TCAAP CPA will be reviewed by the Community Development Committee on October 19, 2015, and considered for approval by the Metropolitan Council on October 28, 2015. The 60-day review period for the Metropolitan Council expires on November 1, 2015. AGENDA ITEM 9 MEMORANDUM