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<br />P(=~(S9 _ <br /> <br />- <br /> <br />Item: 6 <br /> <br />REQUEST FOR CITY COUNCIL DISCUSSION/DIRECTION <br />DATE: 3/20/00 <br />ITEM NO: <br /> <br /> <br />Manager Approval: <br /> <br />Agenda Section: <br /> <br />Proposed Industrial Redevelopment - C2jPartridge <br /> <br />1.0 Background: <br /> <br />1.1 The City has received a proposal for redevelopment of three parcels located at the comer <br />of County Road C-2 and Partridge Road. (Exhibit I). The proposal was brought forward <br />by Landmark Partners, a Minneapolis development firm, who is representing a Roseville <br />company called Complete Mobility Systems and the landowner Jim Trapp. <br /> <br />1.2 The existing site consists of three parcels with a total of 4.3 acres. The site includes <br />several deteriorating buildings and sheds of various construction styles. The exterior of <br />the site includes gravel outdoor storage and debris with gravel parking and an inadequate <br />drainage system. <br /> <br />1.3 The proposed redevelopment would clear all but two of the existing buildings that would <br />be fully renovated into one new multi-tenant building totaling 38,624 square feet. The <br />site would be required to meet existing city code standards addressing impervious <br />surfaces, design standards and proper drainage. <br /> <br />1.4 It is proposed that the site be rezoned as a Planned Unit Development and go through the <br />planning process to address code and site issues. <br /> <br />1.5 The existing assessed value of the total site is approximately $570,000 with a tax <br />capacity of$18,500. The estimated construction value of the redeveloped site is $1.9 <br />million. <br /> <br />1.6 The owner is interested in City assistance to enable the project to be financially feasible <br />and provide market rate leases for the tenants, Complete Mobility and Boater Outlet. <br />According to the owner, the high costs of redevelopment plus construction of the new <br />building would make lease payments much higher than the market. Therefore, it would <br />be very difficult to attract and retain quality long term tenants. It is suggested that tax <br />increment financing be used for this project since the site is in an existing redevelopment <br />district. (Refer to TIF Map) <br /> <br />1.7 Although preliminary analysis by the property owner indicates a clean site, history as a <br />pig farm and previous experience with redevelopment in Roseville's industrial areas <br />indicates that some contamination is likely to be found as further studies and demolition <br />occur. It is likely that assistance for contamination costs can be accessed through the <br />Metropolitan Council and the State Department of Trade and Economic Development. <br />Access to these funds is only possible with City support of the project. <br /> <br />RCD - Redevelop C2/Partridge - Page 1 of 2 <br />