Agenda - Planning Commission - 01/05/2017

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Regular Planning Commission 5. 6. Meeting Date: 01/05/2017 Submitted For: Patrick Brama,Administrative Services By: Patrick Brama,Administrative Services Information Title: Stone Brook Children's Academy&Daycare Purchase Agreement for OUTLOT B of COR ONE Purpose/Background: PURPOSE The purpose of this case is for the Planning Commission to review the attached potential project site locations; and to provide feedback to the EDA and City Council--as they are considering a corresponding purchase offer(purchase agreement). Attached to this case are eight site location options. Stone Brook would like to move forward with site location 41. The EDA has asked Stone Brook to also evaluate the other attached locations. BACKGROUND -Stone Brook/Prestmore Academy- Mr. Michael and Mrs. Michelle Johnson are former Ramsey residents (now Andover residents) and are both practicing doctors. They would like to establish a new children's academy in The COR. This is a project they've been researching/planning and saving up equity for, 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 reality--they have their equity lined up--financing arranged--they are ready to apply for State Licensing--they are ready to go through the real estate entitlement process--they are ready to begin hiring/training employees--and they are ready to enter into a purchase agreement with the City. Their goal is to begin construction in early summer 2017. The new children's academy will be called Stone Brook. This start up company has an advantage. Mrs. Johnson's father started a children's academy franchise in Florida--called Prestmore Academy. Mr. and Mrs. Johnson will have the support of Mrs. Johnson's father--to make sure they are planning/preparing correctly, and to help them get up and running. Here is a link to the Prestmore Academy website http://www.prestmoreacadem,v.com/.Please see "about" page for details. To begin, Mrs. Johnson will quit her current practice to operate Stone Brook. Mr. Johnson will continue his practice,until the businesses is self sustaining. For Mr. and Mrs. Johnson, Stone Brook Academy is much more than a business idea. This project is the accumulation of several personal/professional goals, and a deep rooted passion to give back to the world--through the education and development of children. This is their dream--rather than retire at this stage in their careers. Both Mr. and Mrs. Johnson strongly believe in the vision of The COR--especially the center of The COR. They believe in the principles of a walkable development,with close proximity to residential, close proximity to rail,high-quality architecture, and density. They believe their project is best located in/near the center of The COR, as a destination (140 kids, 20 employees). It is very important to Mr. and Mrs. Johnson to make strong connections to other users in The COR(and the