Laserfiche WebLink
BACKGROUND, Process <br /> From late 2013 through early 2016, the city completed the follow steps: <br /> 1. 2013-2014: Review of potential business park locations. The city reviewed six potential business <br /> park locations; and the Hageman-Pearson site was ultimately selected. <br /> 2. 2014: Public engagement process related to the proposed change in land use. The proposed <br /> business park is currently zoned for a mix of residential and retail uses. In order to allow for a <br /> new business park, the zoning would need to be amended. <br /> 3. 2015-2016: Arterial infrastructure analysis. The city studied what the needs are for future <br /> arterial infrastructure (Bunker/Puma). Additionally, the City discovered what said <br /> improvements would cost, how they could be paid for(i.e. alternatives), and when they need to <br /> be physically constructed (i.e. timing). <br /> 4. 2016: Economic development analysis. The city identified all forecasted costs and benefits <br /> related to the proposed future business park. <br /> 5. The next step in the process for the EDA/City Council to make the business park project a reality <br /> was to adopt an official City policy/ position, memorandum of understanding with property <br /> owners (who will be paying for what, and when), process a zoning amendment, and begin a <br /> marketing campaign. <br /> o The EDA provided direction on this step in March of 2016 (to move ahead and execute). <br /> o The Council was set to complete this step in April of 2016(to move ahead and execute). <br /> o Days before the Council meeting in April, the City received the update below. <br /> UPDATE:Pearson Properties is no longer able to commit to the new business park land <br /> use. The highest priority for Pearson Properties is to close a transaction on a substantial <br /> portion of their land in the next 12 months. Pearson Properties has a preference to <br /> pursue residential land uses on their property, as the market demand for residential is <br /> currently stronger than industrial(i.e. business park). <br /> Because Pearson Properties no longer supports the proposed zoning change, it would be <br /> challenging for the City to implement a business park on their private property(48 <br /> acres). The update from Pearson Properties reduces the size of the City's future business <br /> park by roughly 50%(from 93 acres to 45). <br /> It should be noted, the Pearson Properties parcel was particularly attractive from a <br /> business park perspective due to its setback from the adjacent BNSF rail(i.e. a <br /> substantial portion of that property is sufficiently setback). <br /> Pearson Properties has indicated they are okay with someone else purchasing their <br /> property for the purpose of implementing the City's vision of a business park,so long as <br /> a transaction can close within the next 12 months(by March of 2017). <br /> Page 2 of 6 <br />