CC_Minutes_2012_1022 - Laserfiche WebLink

Home

Regular City Council Meeting Monday, October 22,2012 Page 30 Oasis Pond and the ditch between Langton Lake and Lake Johanna making this entire area environmentally sensitive. Councilmember McGehee expressed her preference in discussing a project that was worthy of investing public money. Councilmember Johnson opined that the City Council owed staff, at a mini- mum, a clear directive on how they should allocate remaining TIF funds in or- der for them to proceed and negotiate on behalf of the City with developers. Mayor Roe summarized the apparent direction from the City Council majority in seeking project criteria that represented 1)jobs, and 2) a"wow" factor. Terry Foster,Hagen Properties Representative Mr. Foster reviewed the history of this parcel as a truck terminal over the last fifty(50) years and its success as that use. Mr. Foster noted his discussions with area developers (e.g. Rottlund and McGough), who have all pulled away from the office market for a variety reasons, including that market being soft, with a significant amount of office space already available in Roseville. Mr. Foster noted that current age mix in Roseville at this time, with a lot of mature citizens, and this proposed development providing an opportunity for young, profession- als to come into and live in Roseville. Mr. Foster noted that the last apartment project in Roseville was The Lexington; and further noted that underground parking was not economically feasible. Mr. Foster noted that this project presented an opportunity for the City to get rid of the truck terminals if they so desired. However, Mr. Foster advised that, as a property owner, they continued to get multiple requests for short-term leases from those wishing to operate a truck terminal. Mr. Foster noted that this re- mained a viable option, continuing use of the forty-six (46) door terminal, and continued truck traffic for the area. However, Mr. Foster advised that the prop- erty owner had made a conscious decision to pursue housing for young people at market rate, not subsidized housing. In order to do so, Mr. Foster advised that some financial assistance was necessary to make that happen to provide a quality project. Mr. Foster opined that this project would not come back, and given the continued interest in long-term truck leases over a 1-3 year period that market remained strong as another viable option. Mr. Foster opined that, if a strong office market was available, those proposals would come forward. While not trying to push a point, Mr. Foster advised that he had spoken to other devel- opers, and the market was not there; and opined that this provided an opportuni- ty to bring young professionals into Roseville. Mr. Foster respectfully thanked the City Council for their time. Councilmember Willmus recognized the complexity of the developer's and property owner's situation; comparing his experience in office and apartment construction projects. While not saying "no" to the project, Councilmember Willmus encouraged them to consider the project without the assistance of TIF.