CC_Minutes_2014_0220 - Laserfiche WebLink

Home

Special City Council Meeting Thursday, February 20, 2014 Page 8 Mr. Rancone agreed with comments that, if it was too prescriptive, it was oin down the same path as in the past. Mr. Rancone questioned who knew what the market place was going to be, and it wasn't about the semantics of retail square footage, but required self-reflection on what has cause the problem in the past and how to do things differently versus only creating the latest iteration of a design. Councilmember McGehee expressed interest in Mr. Rancone's oin t of view; and shared her personal point of view and that of her constituents, in clarifying that p tax increment financing (TIF) districts did not increase a tax base for the Cit or School District for a number of years. Y Mr. Rancone clarified that it was held at bay for a limited time period; and Mr. Trudgeon specified the sixteen years remaining in this TIF District before it ex- pired. Councilmember McGehee reiterated that the payback was not instant; and that a lot of infrastructure improvements had already been installed an paid for by tax- payers. Councilmember McGehee further noted the traffic and congestions con- cerns for people living in that area and going forward as developers want high generators there. In reviewing the seasons and traffic studies at County C intersections with Cleveland, Fairview and Snelling, the studies indicate a significantly low rating already without Wal-Mart even being open yet. When people say they don't want retail, Councilmember McGehee suggested that they may be comfortable with small retail with housing above, the intent of the CMU District, and were not in opposition to retail in general, but on a smaller scale that would serve the community. Councilmember McGehee questioned how Mr. Rancone and the development community would see that scenario going forward to be amenable to them and provides the City with an opportunity to reflect on problems already evidenced in the area. Mr. Rancone responded that, while everyone had a personal opinion, someone more in tune with the market place (e.g. brokerage community or Maxfield Re- search) and more expert in the field could and should voice what they thought made sense, what was practical and realistic in today's market place. While flex- ibility was needed for any future developer, Mr. Rancone noted that this was ex- actly what was being talked about with Costco —offices and residential —moving up Twin Lakes Parkway. However, Mr. Rancone noted that today's market no longer allows such small shops to be financially feasible, opining that this was not a Grand Avenue or 50th and France, and did not share the same demographics as the City of Edina did. Mr. Rancone opined that there needed to be a balance: what people want but how to realistically accomplish it. Councilmember McGehee questioned if Mr. Rancone would suggest taking all developers and pooling resources to hire Maxwell to provide a more professional opinion that currently known.