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Asst. City Administrator /Economic Development Manager Brama explained that St. Katherine <br />Drexel would like to acquire ten acres of land within The COR to serve as the long - <br />term/permanent home for their church. <br />Asst. City Administrator/Economic Development Manager Brama stated if the Council desires to <br />expand Central Park, that opportunity is available through this land swap and would not require <br />land purchase dollars. He asked the Council whether a total of 33.18 acre site is needed for a <br />park, the fair value of the property, and if the City wants to be involved with the development of <br />the remainder of the property not needed for park expansion. It was noted the utilities are <br />located southeast of this site and could cost $100,000 to $300,000 to extend. <br />Asst. City Administrator /Economic Development Manager Brama stated with the HRA -owned <br />property, it would provide a long -term solution for St. Katherine Drexel, an important asset and <br />partner of the City and would drive traffic for other users. He noted that if the land swap is <br />supported, it would create ten acres of tax - exempt property within The COR and a commission <br />of 5% would be due to CBRE. <br />Asst. City Administrator/Economic Development Manager Brama referenced the memorandum <br />from Ehlers and Associates relating to financial impacts to TIF District #14 and future projects <br />tied to tax revenues from The COR. He noted that if this parcel is tax exempt, those <br />commitments still remain and may hinder the City's ability to meet those financial requirements. <br />If supported, staff recommends that an appraisal be conducted and the funding source determined <br />for the CBRE commission. Asst. City Administrator/Economic Development Manager Brama <br />stated if the tax exempt status is a concern, it could be discussed as a bargaining issue. He stated <br />if the Council would like to further investigate a park expansion plan, staff recommends a study <br />be commissioned relating to the need for additional park space. Asst. City Administrator/ <br />Economic Development Manager Brama indicated it is known there is need for a 66 -foot right - <br />of -way to improve traffic flow and parking within Central Park and regardless of the decision on <br />a land swap option, St. Katherine Drexel would be willing to consider that need. Asst. City <br />Administrator/Economic Development Manager Brama stated St. Katherine Drexel is important <br />to this community and staff recommends moving forward with this organization to find an <br />acceptable long -term solution. <br />City Administrator Ulrich explained there are a number of steps in this consideration and <br />suggested staff first comment on whether there is need to expand Central Park. <br />Mayor Pro Tem Backous disclosed he was a founding member of St. Katherine Drexel and had <br />served on the parish council but has deliberately distanced himself from leadership of the parish <br />because of his position on the City Council to avoid a potential conflict of interest. He stated <br />because of that, he feels comfortable taking part in this discussion. <br />Councilmember Kuzma stated he also frequents St. Katherine Drexel. <br />Councilmember Riley asked what is driving this discussion and bringing it before the Council. <br />City Council Work Session / October 28, 2014 <br />Page 3 of 9 <br />