HomeMy WebLinkAboutEDA August 16, 2005
C I T Y o F
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1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55304 . (763) 755.5100
FAX (763) 755-8923 . WWW.CI.ANDOVER.MN.US
ECONOMIC DEVELOPMENT AUTHORITY
MEETING
August 16, 2005
6:00 p.m.
Conference Rooms A & B
AGENDA
Meeting has been
CANCELLED
Due to No New Significant Information
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Two Informational Memos are attached.
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1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55394 . (763) 755-5100
FAX (763) 755-8923 . WWW,CI.ANDOVER.MN.US
TO: EDA President and Board
FROM: Jim Dickinson, Executive Director
SUBJECT: Update on Letters ofIntent
DATE: August 16,2005
DISCUSSION
Staff continues to pursue the receipt of letters of intent for Andover Station North daily. Meetings
continue with two separate developers for office condominiums on two separate lots, the meetings are
positive but to date no letters of intent have been provided.
Staff has had follow up discussion with a representative of the Play Ventures LLC proposal to see if
they are willing to offer more for the land than previously proposed.
Staff continues to work with Mike Casey to move his letter of intent to a purchase agreement. I have
assisted by providing property tax comparisons and discussing details with Mr. Casey's potential
tenants. I have another meeting set at 3:00 pm on August 12th to present additional data.
Staff has met with a bank interested in expanding into Andover. Also the sign age placed on the
Andover Station North site has generated a few inquiries
ACTION REQUESTED
Informational.
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1685 CROSSTOWN BOULEVARD N.W. . ANDOVER, MINNESOTA 55304 . (763) 755-5100
FAX (763) 755-8923 . WWW.CI.ANDOVER.MN.US
TO: EDA President and Board
CC: Jim Dickinson, Executive Director
FROM: Will Neumeister, Director of Cornmunity Development ~
SUBJECT: Andover Station North Development Improvements Update
DATE: August 16,2005
INTRODUCTION
Each week progress is being made on construction and rnarketing of this rather large piece of land that has
many complexities.
DISCUSSION
The plan and design work for the public street on the southern 20 acres has been reviewed by Anoka County
Highway Department and they are agreeable to the road access being a right-in only. City staff met with 1st
Regents Bank president, Roger Okerman and gained his approval of the closure of their current driveway and
allowing the changes to be made to access off the new public street that would be built. The developers
interested in building a retail center on the parcel east of the bank have reviewed the plans and are not willing
to move forward with a letter of intent. Staff is still working on convincing them that the site is a good one for
their commercial venture. You will recall, they had a contingency regarding this and it appears that they may
not move ahead. Staffwill keep the EDA informed as to any further discussions with those developers.
Staff has worked out a pricing of the additional street and utility work with North Pine Aggregate. The staff
has received a number that is $30,000 under the engineers estimate used in the feasibility report and will
process a change order for the existing Jay Street contract at the August 16,2005 City Council meeting. Staff
feels this is under the cost that the City would have if we were to hold off and rebid this work. The approval of
the change order would mean that this would be done with the construction of the balance of remaining work
on Jay Street. The final utilities and street work to complete Jay Street will be done by early September.
The City sign shop has erected four new "LAND FOR SALE" signs, with two signs on Hanson and two on
Bunker Lake Boulevard. Lastly, an advertisement is being prepared for the September issue of the Business
Journal.
ACTION REQUESTED
None is needed, as this is an informational update on recent construction, and marketing promotional efforts.
Respectfully submitted, I
Will Neumeister ~