Agenda - Council - 07/26/1994 - Laserfiche WebLink

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c^s # / 5 REQUEST FOR SITE PLAN APPROVAL; CASE OF SHARP & ASSOCIATES By: Zoning Administrator Sylvia Frolik and City Administrator Ryan $chroeder Background: Dennis Sharpof Sharp and Associates is requesting site plan approval to construct a multi-tenant office/warehogse on Lot 1, Block 1, Ramsey 67 Industrial Park. The project is proposed to occur in 2 phases during 1994 and 1995 constructions seasons and will total 45,640 square feet upon completion. The following&ems are enclosed: a) b) c) d) Site location map Site plan City Staff review letter dated June 30, 1994 Proposed development permit Observations: The proposed, project meets City Code requirements for lot coverage, setbacks, architectural standards, offi-street customer/employee parking areas and site lighting. The landscaping and screening plan3 need to be identified in detail for inclusion in the Site Plan Development Permit. The site plan should be mended to reflect that the interior paved loading area will be finished with continuous cot~crete curbing. The developer' has been working with the City. En~neer to prepare a grading and drainage plan. The City, Engiheer has recommended that the access onto County Road #] 16 be located at the west proper'0, line sb that a single joint access can serve this facility and the adjacent property to the east. The developer has petitioned the C/ty for municipal water, sanitary sewer and the construction of Uranium Streeit N.W. The project is proceeding as a public improvement project. The Planning ;Commission reviewed the site plan on July 5 and recommended approval contingent upon compliance with City Staff review letter dated June 30, 1994. The proposed project, upon completion, will have a minimum market value of $1,384,300 at $30.33 per square foot. Upon completion, it will have an estimated tax payment of $74,591. With completion of the project in 1995, tax increment revenues from this property will be available between 1997 :and 2012. The estimated ,Cost of sewer and water extensions and charges to service this property are $96,036. Construction Cf Uranium Street is projected at $23,850 for 477 feet of construction. Uranium Street will be located between the Sharp and the MUCC properties south of County Road #116. It is proposed that the City utilize a portion of the increments scheduled from this project for infrastructure and site improvements.. In that the project is' proposed as an incubator rental, it is also proposedi that the City be offered the opportunity to review all tenant agreements The developer has represented that his average lease rate will be at $3.50/foot with site costs at levels reduced by return of increments. It is proposed that the City receive a loan from the developer in the amount of $1/square foot of construction per year over 7 years toward reimbursement of infrasnmcmre and site work. The loan repayment wo.~ld be over the term 1996 through 2002 upon receipt of all taxes, fees and charges of the City from {he developer. At the level of 45,640 square feet completed in 1995, City revenues