HomeMy WebLinkAbout2018 02-20 CCP Special SessionAGENDA
CITY COUNCIL SPECIAL SESSION
TUESDAY, February 20, 2018
5:00 p.m.
City Hall Council Chambers
1. Call to Order
2. Roll Call
3. Introductions: Stacie Kvilvang, CIPMA, Ehlers
4. Presentations: Development Proposals for the Opportunity Site
• Inland Development Partners
• Alatus LLC
5. Council Review and Discussion
6. Adjourn
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To: Curt Boganey - City Manager
From: Stacie Kvilvang
Date: February 20, 2018
Subject: Developer Interviews - Opportunity Site
In Late October 2017, City staff and Ehlers met with four (4) developers who had the
experience and financial capacity to be a Master Developer for the City's Opportunity Site
as shown below:
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We concentrated mostly on the 32-acre site the City owns, but discussed future phasing
north of the City's property and east of John Martin Drive. We wanted to garner their insight
on the potential development and feasibility of the site and their interest in submitting as a
Master Developer. The developers were, Inland Development Partners, Alatus, Doran
Companies and Ryan. Overall, three (3) of the four (4) developers saw great potential for
this transformative site and had similar visions for its development as follows:
1.Great market rate/luxury multi-family potential
2.Potential for small lot single-family for-sale or town home development, if that is what
the City wanted
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1i JELS
LEADERS IN PUBLIC FINANCE
Minnesota phone 651-697-8500 3060 Centre Pointe Drive
Offices also in Wisconsin and Illinois fax 651-697-8555 Roseville, MN 55113-1122
toll free 800-552-1171
Curt Boganey
Developer Interviews - Opportunity Site
February 20, 2018
Page 2
3.Potential for a hotel
4.Well serviced by existing retail with potential for retail/entertainment/restaurants, etc.
that would be more experiential, rather than trade-oriented; and
5.Potential for office development, but likely into the future
6.Likely a five (5) to ten (10) year build out due to the size of the site
In early December 2017, staff met with the developers to overview their initial conceptual
ideas for the site and to provide some initial feedback. After these meetings, only two (2)
developers remained interested (third dropped out due to too many other commitments at
this time for larger projects). In December and early January staff toured some of the new
multi-family and single-family products that the developers stated they would be proposing
for the site to determine if the products would fit with the City's vision (attached PowerPoint
has photos of the products toured).
On Tuesday, February 20, 2018 at the Council work session, Alatus and Inland
Development Partners will provide the Council an overview of their experience,
developments they have completed, and overview their working concepts for the site. It
should be noted that the concepts are very preliminary and will change and be refined, once
selected as the Master Developer, to reflect input from the Council, community and the
market.
This work session is meant to be an iterative process and the developers welcome
questions as they go and want honest feedback from the Council on their concepts. We will
be meeting with Alatus from 5:00 p.m. to 6:00 p.m. and Inland from 6:05 p.m. to 7:05 p.m.
After the last presentation, the Council will have an opportunity to discuss the concepts and
developers with staff. Even though this is the first time the Council is seeing the concepts
and meeting the developers, I anticipate that the Council will be able to build consensus
around selecting one of the developers to proceed with that evening. Our goal is to have
development commence in 2019 and there are a lot of steps between now and then, so
selection of a Master Developer sooner rather than later is beneficial to the City. If the
Council is unable to come to a consensus, we would request feedback on what more the
Council would like to see in order to select a development partner.
After selection of a Master Developer, the City would enter into a Preliminary Development
Agreement (PDA) with the Master Developer. The PDA would be for up to a 12-month
period, providing the selected developer exclusive development rights to the site. During
the 12-month period, the Master Developer would be required to work with staff and the
Council on a refined site plan the meets the goals of the City. In addition, they will be
completing their market studies, putting financing in place and negotiating terms of a final
Development Agreement with the City.
Please contact me at 651-697-8506 with any questions.
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