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Master Developer Redevelopment <br />verses <br />Uncoordinated Market Based Redevelopment <br />{03/29/04) <br />(Source: Council/Staff discussions, December 2003 & Can Dev. staff reports) <br />Roseville's adopted current comprehensive plan calls for a mixed use business park <br />in Twin Lakes. Most land is n�v zoned either general industrial {I-2) or light <br />industrial (I-i). Changes in zoning would have to comply with 6-6 zoning, which <br />requires a PUD to mitigate the findings in the AUAR. This works for a master <br />developer and a refinement of the master plan. <br />Alternatively, an owner/developer who continues to use the I-1 or I-2 zone for an <br />existing permitted use, or a n�v but permitted use, may not be required to change <br />zoning and mitigate. <br />A. Why a Master �eveloper Exclusive Negotiation Agreement? <br />1. Exclusive Negotiation Agreement sends a strong public/private partnership <br />message to the market and other public partners. <br />. Master developer is bound to use the Council's adopted plan and refine it; <br />then mitigate the impacts through the conditions by a PUD. <br />. Non-master developers must work through master developer rather than <br />making speculative land offers which over inflates purchase price by owners. <br />. Property owners have more comfort working with the master developer when <br />there is an exclusive negotiation agreement in place - demonstrating the city <br />is serious about moving forward. <br />.���k will see a local commitment to making the project work and this will <br />provide comfort that their $350,000 worth of invested funds will see a <br />return. Currently, they are skeptical and will pull $500,000 in loan funds if a <br />plan is not presented for its use within 6 months. <br />. Met Council and other public funding agencies will see a strong commitment <br />that is critical in the grant process. City has made applications in the past <br />fo r Twin Lakes and they were not funded due to no developer identified and <br />committed to the project. They too, like EPA, want to be able to show a <br />return on their investment usually within 24 months. <br />1 <br />