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CC_Minutes_2012_0723
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Roseville City Council
Document Type
Council Minutes
Meeting Date
7/23/2012
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Regular City Council Meeting AND <br /> Board of Adjustments and Appeals <br /> Monday,July 23,2012 <br /> Page 52 <br /> ested in pursuing the concept under those circumstances. Mr. Trudgeon noted <br /> that this could serve as the entryway into Twin Lakes, and staff was in agree- <br /> ment that this could be a great project. However, Mr. Trudgeon noted the need <br /> to determine if it was economically feasible, a determination that had yet to be <br /> made. <br /> Discussion among staff, Mr. Osborn and Councilmembers included identifying <br /> the actual location (Historical Society storage in the rear of the existing struc- <br /> ture); ownership by the City of a portion of the project area; other projects by <br /> the developer, with their last new construction in 2000 based on market condi- <br /> tions and their refocus in acquiring existing facilities rather than new construc- <br /> tion, with their business model changing with the economy; and the firm's pref- <br /> erence to acquire existing facilities under ten (10) years in age, and not requir- <br /> ing significant remodeling. <br /> Further discussion included phasing of the project; rationale for 2-3 bedroom <br /> units versus a majority of three (3) bedroom units based on economies; lack of <br /> interest by the developer in government subsidized rental units; impacts of area <br /> commercial uses on initial rental rates versus market rate ranges; and the history <br /> of the developer as a long-term investor in their properties. <br /> Councilmember Willmus expressed interest in further discussions; however, he <br /> cautioned that his ultimate support would depend on the level of TIF requested <br /> and based on TIF reserves. <br /> At the request of Councilmember Pust, Mr. Osborn responded that they would <br /> like to have approvals in place by mid-fall in order to break ground in the spring <br /> of 2013. <br /> Mr. Trudgeon reiterated that the most challenging aspect will be TIF; however, <br /> he expressed his confidence that this was a permitted use on this parcel. Mr. <br /> Trudgeon noted that the developer recognized that the City had a lot of obliga- <br /> tions for using its TIF reserves, and the need for the City to be prudent in its de- <br /> cision-making and determination of what this proposal could generate. <br /> Councilmembers Pust and Johnson noted that they wouldn't be serving on the <br /> City Council when this decision came forward. <br /> At the request of Mayor Roe regarding the interest of the HRA for involvement <br /> in financing, Mr. Trudgeon responded that this required a broader policy discus- <br /> sion, since the HRA currently focused on affordable housing, with only minimal <br /> and infrequent discussions beyond that, and not sure whether it was applicable <br /> at this time. <br />
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