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HomeMy WebLinkAbout09-14-15Joint 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 Inguirieslinformational None Consent Agenda None Old Business None Public Hearing None New Business Presentation on County investment in TCAAP Proiect — 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 1-35W 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