HomeMy WebLinkAboutEDA - May 15, 2012ECONOMIC DEVELOPMENT AUTHORITY
MEETING
May 15, 2012
6:00 p.m.
Conference Rooms A & B
1. Call to Order — 6:00 p.m.
2. Approval of Minutes (May 1, 2012 Regular)
3. Parkside at Andover Station Update
4. Arbor Oaks Update
5. EDA Activity - Project Status Report
6. TIF District Cash Flow Update — May 2012
7. Other Business
8. Adjournment
CC: Jim Dickinson, City Admini
FROM: Michelle Hartner, Deputy City Clerk
SUBJECT: Approval of Minutes
DATE: May 15, 2012
INTRODUCTION
The following minutes were provided by Staff reviewed by Administration and submitted
for EDA approval:
May 1, 2012 Regular
DISCUSSION
The minutes are attached for your review.
ACTION REQUIRED
The EDA is requested to approve the above minutes.
Respectfully submitted,
ti
Michelle Hartner
Deputy City Clerk
Attach: Minutes
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ANDOVER ECONOMIC DEVELOPMENT A UTHORITY MEETING
MAY 1, 2012 - MINUTES
Ex
APPROVAL OF
Jim
April 17, 2012, Reguld Meeting.• Co^rect as p> esented.
Mr. Carlberg stated the Planning and Zoning Commission reviewed the modification and
compared for consistencies with the Comprehensive Plan. The Planning Commission adopted a
resolution in support of the plan.
Mr. Carlberg indicated by adopting the resolution the EDA is stating the plan meets the goals of
the City.
Commissioner Trude asked if the valuation of the property has been agreed upon. Mr. Dickinson
Andover Economic Development Authority Meeting
Minutes —May 1, 2012
Page 2
replied the proposed subsidy agreement is in the development contract.
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3 Motion by Trude, Seconded by Knight approving the resolution adopting the modification to the
4 development program for development District No. 1, establishing Tax Increment Financing
5 District No. 1 -5. Motion carried unanimously.
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7 CONSIDER DEVELOPMENT AGREEMENT — ARBOR OAKS SENIOR LIVING, LLC
9 Mr. Carlberg indicated the agreement is the legal document between the City and Arbor Oaks
10 Senior Living, LLC. He stated the developer Roger Fink would like more time to review the
11 agreement; the document will be pulled from the City Council's meeting agenda for May 1,
12 2012.
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14 Mr. Dickinson stated the agreement is between the City and the developer. Staff is looking for
15 any comments from the EDA. The agreement will be brought to the City Council for approval at
16 the May 15, 2012 meeting.
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18 DISCUSS BUNKER LAKE BOULEVARD REDEVELOPMENT OPTIONS
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20 Mr. Dickinson reviewed a map of the redevelopment area. He suggested trying to acquire the
21 property on Bunker Lake Boulevard first.
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23 President Gamache indicated he would like to see a report from the Sheriff's Office with the
24 police calls in the area.
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26 Mr. Dickinson reviewed the area parcel by parcel. He estimated the value of the area at almost
27 $7 million. He stated focusing just on the 4 -plex parcels the estimated cost of the property,
28 relocation fees and demolition is about $1.8 million.
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30 Commissioner Knight asked if any developers are interested in the area for commercial retail.
31 Mr. Dickinson replied not at this time. Mr. Carlberg stated with the limited access on Bunker
32 Lake Boulevard he sees the area with commercial office buildings not retail.
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34 Mr. Dickinson stated 4 -5 parcels would be enough land to build a 74 unit apartment building and
35 the rest of the area could be mixed use residential or office use.
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37 Commissioner Nowak asked how much funds is available for this project. Mr. Dickinson
38 indicated between $1.4 and $1.8 million. He stated future sales of property developed with TIF
39 fiends, such as Andover Station North adds to the available fiends for this project. The TIF plan
40 budget does allow for the use of those funds for acquisition in this redevelopment area.
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42 Mr. Dickinson stated the cost to redevelopment the entire area could be approximately 8.8
43 million.
Andover Economic Development Authority Meeting
Minutes —May 1, 2012
Page 3
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The consensus of the EDA is to move forward with acquiring parcels in the Bunker Lake
Boulevard redevelopment area.
OTHER BUSINESS
There was none.
ADJOURNMENT
Motion by Twistol, Seconded by Nowak to adjourn. Motion carried unanimously. The meeting
adjourned at 7:00 p.m.
Respectfully submitted,
Michelle Hartner, Recording Secretary
LNNDOVER4
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1685 CROSSTOWN BOULEVARD N.W. e ANDOVER, MINNESOTA 55304 e (763) 755 -5100
FAX (763) 755 -8923 e WWW.CI.ANDOVER.MN.US
TO: President and Commissioners
Jim Dickinson, Executive Direct°
FROM: David L. Carlberg, Community Development Director
SUBJECT: Parkside at Andover Station Update
DATE: May 15, 2012
INTRODUCTION
The EDA is requested to receive an update from the Community Development
Director on recent developments at the Parkside at Andover Station.
DISCUSSION
The purchase agreement with Capstone Homes, Inc. has been executed. Staff is
currently working with Hakanson Anderson to shift property lines on three lots to
prepare the two lots for sale to Capstone. The Council will be holding a public
hearing tonight to consider the vacation of drainage and utility easements to
accomplish the shift and create the new lots. The City will sell these lots to
Capstone with the agreement that the two lots will be replatted with the
development of the additional single family lots identified in the purchase
agreement.
Staff continues to explore options and solicit buyers for the additional property
located east of Linnet Street.
ACTION REQUESTED
Receive presentation and provide input if necessary.
Respectfully submitted,
David L. Carlberg
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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: President and Commissioners
Jim Dickinson, Executive Directo
FROM: David L. Carlberg, Community Development Director
SUBJECT: Arbor Oaks Update
DATE: May 15, 2012
INTRODUCTION
The EDA is requested to receive an update from staff on the status of the project.
DISCUSSION
The Planning Commission on May 8, 2012 held public hearings on the Comprehensive
Plan amendment and the preliminary plat /amendment to the planned unit development
(PUD). The Comprehensive Plan Amendment will change the land use designation from
Neighborhood Commercial to Urban Residential High Density. The preliminary plat
combines /replats the two existing lots into one parcel to allow the project to develop.
The PUD amendment provides for the development standards to be used for the project.
These items will be placed on the June 5 th City Council meeting agenda. Staff will
provide a brief overview of the proposed PUD amendment and site drawings at the
meeting. The City Council will be holding a public hearing tonight to vacate the existing
drainage and utility easements. New easements will be dedicated with the recording of
the final plat.
Staff has also been working with Trident Development on minor revisions to the
development agreement that the EDA reviewed at the May 1, 2012 meeting. Revisions
have been reviewed and accepted by all parties including the City's fiscal advisor, Ehlers,
Inc. and the City's bond and TIF counsel, Briggs and Morgan. The City Council will
approve the agreement on tonight's Council agenda as a consent item.
ACTION REQUESTED
Receive presentation from staff and provide feedback where necessary.
Respectfull submitted,
David L. Carlberg
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
Jim Dickinson, Executive Director
FROM: David L. Carlberg, Community Development Director
SUBJECT: EDA Activity - Project Status Report
DATE: May 15, 2012
INTRODUCTION
�N__
This memo provides a brief update of all EDA activities. Further details will be provided at the
meeting.
DISCUSSION
2012 Special EDA Events — "Concert in the Parlc" - Staff has scheduled the "Concert in the Park"
series for the summer. The schedule includes the Oak View Middle School Jazz Band on May 30
Erin Rogue on June 27 Bellows and Brass on July 18 and the Andover High School Band on
August 22 Staff will be drafting contracts with each entity outlining responsibilities and
cancellation policies due to inclement weather.
2012 Business Appreciation Day — The date has been set for Wednesday, June 13, 2012 at "The
Refuge ". Brochures have been distributed to all local businesses as well as past attendees. Prizes
and gifts are currently being solicited.
Andover Station Area Medians — Medians will be mowed the week of May 14 The mowing will
assist in the development and growth of the plants. Re- growth will be monitored over the summer.
Andover Station North — Available sites are actively being marketed.
www.MetroMSP.org and City Website — Staff continues to monitor the EDA's land sales
information on the MetroMSP website sponsored by Anoka County. We have also shown
information on other commercial and industrial lands that are for sale in Andover on both the
www.metromsp.org and in the past on the city planning department's website. Staff has updated the
city's website to include and economic development department to provide prospective businesses
easier access to available commercial /industrial properties as most parties interested look for an
economic development section of a city's website if they are inquiring about available
properties /buildings. Staff has received positive feedback on the information provided and ease of
access to the information.
Potential Restaurants — Staff continues to submit demographic information to potential restaurants
as leads become available. Staff continually reviews various businesses journals looking for
restaurants, retailers and other companies who are expanding their operations. As the EDA is aware,
there continues to be two issues facing Andover in attracting sit down restaurants. The first is not
enough daytime traffic and the second being the lack of square footage of retail space to support a
restaurant.
Redevelopment Sites —Staff is monitoring the area for potential acquisitions as they become
available. EDA provided additional direction at the May 1 St meeting directing staff to aggressively
pursue parcels in the area. Staff is preparing the bid documents for the asbestos abatement and
demolition of the building at 2600 138 Avenue NW. The plan is to have the building substantially
raised by July 1 The Fire Department and the Anoka County Sheriff's Office are exploring training
opportunities to be conducted prior to demolition. Community Development Block Grant Funds
(CDBG) funds are being used to install municipal water service in the area of 140 Lane NW this
year. The preconstruction meeting has been scheduled for Tuesday, May 15, 2012.
Parkside at Andover Station — Staff is working with Capstone Homes, Inc. on a purchase and
takedown schedule for the single family lots. A public hearing has been scheduled for the May 15
Council meeting to vacate easements to allow the shifting of lot lines so Capstone can close and
build models on two of the lots. Staff is also actively pursuing the development of the remaining
multi - family property.
Retail Market Analysis - The McComb Group is currently drafting the analysis. Analysis will be
received by May 18, 2012. Staff will review and request revisions if necessary. Findings will
likely be presented in June.
Monument /Entrance Signs — Staff, representing the EDA as general contractor, is currently
working with Demars sign to install the monument /electronic reader board sign on the northeast
corner of Crosstown Boulevard NW and Bunker Lake Boulevard NW. Demars will be responsible
for securing the necessary permits from Anoka County as they will be doing the physical
construction of the sign. Aircon Electric at the direction of staff is working with Connexus Energy
on options to bring power to the sign. Work is also being done exploring the options to connect to
the Watchfire electronic message center to program the sign.
ACTION REQUESTED
Receive a presentation from staff and provide direction.
Respectfully submitted,
David L. Carlberg
2
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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: President and Commissioners
FROM: Jim Dickinson, Executive Director
SUBJECT: TIF District Cash Flow Update — May 2012
DATE: May 15, 2012
INTRODUCTION
The EDA is requested to receive a Tax Increment Financing (TIF) District Cash Flow update.
DISCUSSION
The Executive Director will use the attached TIF Cash Flow Analysis as the basis for the TIF
District financial update and to facilitate discussion.
ACTION REQUESTED
Receive a presentation and provide direction to staff.
epeully submitted,
Jim Dickinson
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