Agenda - Economic Development Authority - 07/11/2013

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Economic Development Authority (EDA) 4. 1. Meeting Date: 07/11/2013 Submitted For: Patrick Brama By: Patrick Brama, Administrative Services Title: Discussion of 167th Avenue and Highway 47 Node Background: Background: The retail node located at 167th Avenue and St. Francis Boulevard (Trunk Highway 47) has been a topic of discussion with City Councils and EDA boards for the past ten (10) years. This node has struggled to become economically viable for some time, is experiencing very high vacancy rates and a decaying building stock. Historically, the City has conducted a number of studies and conceptual master plans for this area; and at one point considered funding a second master planning effort. Beginning in the summer of 2012, the 167/47 retail node resurfaced as a priority discussion topic. Over the past year, Staff has received a number of inquiries; including proposed new uses, inquiries for City assistance, expression of frustration from property/business owners, inquiries to approve a Comprehensive Plan and Zoning Amendment for the parcels, inquires for the City to purchase parcels, etc. As a result, the EDA has reviewed a number of cases regarding this manner. The policy direction developed by the EDA is as follows: • The EDA is not interested in purchasing property to revive the 167/47 retail node in the near future. • The EDA is interested in developing an ownership meeting group to brainstorm options, share information and to investigate opportunities. • The EDA is interested in the idea of developing a professional marketing package for the 167/47 retail node to entice redevelopment/investment. • The EDA is interested in investigating what financial assistance options exist for a potential redevelopment project. • The EDA is not interested in approving a Comprehensive Plan and Zoning Amendment for the subject property to allow for warehouse and/or light manufacturing uses. Purpose of Case: Review updates/information collected and provide Staff with general direction Observations: Listed below are five major topics for discussion. (1) Ownership Meeting, June 5 Staff met with 167/47 retail node property owners on June 5 with the purpose of: (1) gathering owner information (goals, barriers, etc). (2) provide City background/historical information and identify potential available tools (3) provide feedback for EDA Attached to this case are meeting notes and information collected. In summary, (A) a majority of property owners are interested in selling today, (B) all property owners are interested in a EDA sponsored developer marketing package, (C) all property owners believe additional roof tops will benefit the retail node, (D) all property owners are not opposed to a Comprehensive Plan and Zoning Amendment to allow for light industrial/warehouse type users and (E) one property owner would like the City to consider support of a residential development proposal. (2) Rum River Hills Proposal Staff met with representatives of of Rum River Hills Golf Course in June regarding a proposed 248 unit residential