Agenda - Planning Commission - 08/01/2013

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Establish 55dB noise regulations It is proposed the City establish noise regulations making 55dB the maximum decibel of noise allowed from the Subject Property (similar to Chaska). Noise regulations help mitigate noise concerns. Provide public open space It is proposed the City utilize land located in the northeast corner of the Subject Property as public open space. Various options exist for utilization of the proposed open space. Public open space mitigates safety and compatibility concerns. Updated Feasibility Study & Concept Maps As a result of revisions to the site map concepts (reviewed above), and a recent market value appraisal for the Subject Property, Staff made a number of revisions to the feasibility study for the development of the Subject Property. In summary, results of the revised feasibility study are similar to the the original feasibility study: a data center development is significantly more beneficial to the City (financially) than a residential development. Estimated City tax revenues from a data center development range from $124,807 to $118,596 annually; whereas, a residential development is estimated to produce $28,263 annually. Other taxing jurisdictions would also benefit from a data center development. Estimated TOTAL tax revenues from a data center development range from $968,336 to $920,150 annually; whereas, a residential development is estimated to produce $92,013 annually. Considering land only: The appraised value of the Subject Property for data center is $1,275,000; and, the appraised value of the Subject Property for a residential development $650,000. Considering the estimated market value of an entire project: the value of data center is $24,150,300 (one user) and $22,950,300 (two users) and the value of residential development is $7,632,941. EDA Input On May 16 the EDA reviewed information collected from the April public input meeting and the revised (mitigated) site plan concepts and feasibility study. The EDA had the following comments to provide the City Council: • Considering the mitigated data center site plan, the EDA is in favor of pursuing a Comprehensive Plan Amendment to allow for a data center user. • The mitigated site plan is a compromise with surrounding property owners; it addresses most concerns raised during the public input process. • The EDA believes the data center concept is in line with Council and EDA goals. • The EDA would like to remain transparent and open with surrounding property owners. The EDA would like a mailing sent to surrounding property owners before the City Council directs Staff (and the Planning Commission) to either move forward/not move forward with a Comprehensive Plan Amendment; said letter would be an invite to submit comments and attend said Council meeting. • The EDA would like a webpage set up for this project. • The EDA is also in favor of the residential site plan concept; and would be in favor of pursuing zoning to allow for said use. However, the EDA would recommend the City pursue a data center user first. • In general, the EDA is not interested in a nonprofit entity utilizing the subject property. However, if the data center and residential concepts do not gain traction, they would be willing to consider. • Considering the data center concept, the City Council should strongly consider the proposed open space; as it would be very important to surrounding property owners. • One EDA member was opposed to moving forward with a data center development. • One EDA member indicated it would be wrong to push something through given the current level of opposition. Said member later indicated the mitigated data center site plan was sufficient.