Agenda - Council - 01/24/2017 - Laserfiche WebLink

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CC Regular Session 7. 12. Meeting Date: 01/24/2017 Submitted For: Patrick Brama,Administrative Services By: Patrick Brama,Administrative Services Information Title: Stone Brook Academy Purchase Agreement for 1-acre of City-Owned Land located within The COR[PORTIONS MAY BE CLOSED TO THE PUBLIC] Purpose/Background: PURPOSE Stone Brook Academy has proposed to purchase roughly 1-acre portion of land located within The COR to establish a childcare and children's academy in Ramsey. The majority of sites they are considering, along with their 41 desired site, are city-owned properties. The desired outcome of this case, for Stone Brook, is direction on what site location they can move forward with. Stone Brook strongly desires Site #1-just west of the existing Yolite intersection. Stone Brook is hoping to get clear direction from the City--as they want to enter into a formal purchase agreement and begin the entitlement process as soon as practicable (i.e. plat and site plan). They are hoping to have a project completed in 2017. REVIEW This case was reviewed by the EDA on 12/08/16 and 01/12/2017. This case was reviewed by the Planning Commission on 01/05/2017. CASE PROCESS This case is being addressed in several separate steps: Step 1: Concept. The purpose of this case is to provide feedback to Stone Brook from a master developer perspective (site location feedback,review initial deal terms). Step 2: Real Estate transaction. The purpose of this case will be to consider the formal purchase agreement and final details of a development agreement. This will be a future case. Step 3: Land Use, zoning, and site approvals from City (also known as Entitlements). BACKGROUND Site Locations/Site Logs- Attached to this case are logs for eight potential site locations. The first site (Site 41) contains the most information, as it has drawn the most discussion and continues to be Stone Brook's desired location. Sites 42 and 44 are potential alternative options--Stone Brook would accept these sites if the City opposed Site 41, and was able to obtain those sites at like costs. Sites 43, 45,46, 47, and 48 are not options for Stone Brook (regardless of price). Included in these site logs are background information on each site, staff review comments, EDA review comments, and Planning Commission review comments. Stone Brook/Prestmore Academy- Mr. Michael and Mrs. Kristen Johnson are former Ramsey residents (now Andover residents) and are both practicing professionals. They would like to establish a new children's academy in The COR. This is a project they've been researching and planning for over two years. They have reviewed the project with two developers,an architect, and with two banks. At this point,they are ready to make their dream a