pf_02867 - Laserfiche WebLink

Home

ROSEVILLE TWIN LAKES PROJECT - 1980 TO PRESENT Background The Twin Lakes Redevelopmcnt area is locatcd within thc City of Rosevillc in an area bOWlded by County Road C on the south, County Road C-2 on the north, Cleveland Avenue on the west and Snelling Avenue on the east. Development of this particular area began in the 1950's. It developed as a major concentration of over-the-road trucking companies and related businesses because sites were large and inexpensive and the area was accessible to the highway system and close to both downtown MiImeapolis and St. Paul. With the federal deregulation of the trucking industry in 1980, the trucking industry nationwide was dramatically affected which inevitably affected this portion of Roseville. It has resulted in trucking tenninals reducing or moving their operations, and in some cases, even going out of business. This in turn affected the trucking related businesses in the area. Faced with this change and. potential deterioration of the area in 1988, the City designated the area as the Twin Lakes Redevelopment Area and as a tax increment financing district. The City, with the assistance of the consulting firm of Dahlgren, Shardlow and Uban. developed a land use plan for the area which called for the redevelopment of the area to provide a variety of office, retail, business, and light industrial uses. The City submitted it for review by the Metropolitan COWlcil and the Metropolitan Council asked for additional info11T1ation concerning traffic and its impact on I35W. At the same time, commwrity survey results indicated that citizens felt that there :was no need for more retail development in the City. As a result, the City withdrew its proposed Twin Lakes Plan from Metropolitan Council review and deteITIlined that there should be additional light industrial in the area rather than retail. This could be accomplished under the existing Comprehensive Plan and zoning. The City adopted the redevelopment plan as part of a major Comprehensive Plan amendment approved in 1994. The City contacted nwnerous developers to take the lead in redeveloping the area in accordance with the Twin Lakes Redevelopment Land Use Plan. Originally, Trammel Crow Company approached the City and began negotiations '\\lith City staff to develop the area. Unfortunately, that deal fell apart and the City began to try to identify additional potential developers. City staff contacted brokers, realtors, Bnd also members ofNAIOP to try to identify two or three additional developers to carry out the Twin Lakes plan. Developers expressed reluctance to accept the risk of being the first into redevelop the area. Ryan Companies, however, stepped forward and the City was able to negotiate a development agreement with Ryan Companies. The agreement provided that the City would provide up front funds from its tax increment fInancing pool to assist in 1311d acquisition, demolition, and clean up. Ryan Companies would, in turn, redevelop the sites and provide the City Vwith shares of cash flow and proceeds iTom the sale of projects in the future to repay the City's initial investment. ' As part of the agreement, Ryan Companies has the right of first offer to develop all or a portion of the property in the Twin Lakes Development Subdistrict. This area, as it is currently defmed, contains approximately 108 acres or approximately 38 % of the total Twin Lakes area. Two properties in this subdistrict ( Cummins Diesel and McGough Constnlction ) are not planned to J :\cbar\wp51 ch\documcnt\2lwinlak~.n:p I