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Economic Development Authority (EDA) 5. 1. <br />Meeting Date: 12/06/2018 <br />By: Sean Sullivan, Community <br />Development <br />Title: <br />Receive Update on Concept Plan for Hotel/Multifamily Development in The COR: Case of Allied Development <br />Purpose/Background: <br />The purpose of this case is to review a high level concept of a potential hotel/multifamily development in The COR <br />across from the Ramsey Municipal Center. The Developer, Allied Development, is considering a project for 2019. <br />Before they commit to a Purchase Agreement with the Property Owner, PSD, LLC, they seek general feedback <br />from the City. Currently, there is no request for financial assistance, but such a request is a possibility as the project <br />pro -forma is developed. <br />This case is for conceputal review only at the request of the Developer. Nothing in this case should be interpreted as <br />an actual Application or consideration by the City. The City has not made any recommendations on this proposal, <br />and is only responding to information and request. <br />The purpose of this case is as follows: <br />1. Is this an appropriate use on this parcel? <br />2. Is this an appropriate design for this parcel? What design criteria is important to the City? <br />3. What questions does the City want answered prior to bringing forward a formal Application (both for land <br />use and potential financial assistance)? <br />This case is structured as Staff Input only at this point, as the project does not involve the transaction of a <br />City -Owned parcel nor involves a current request for financial assistance. <br />Notification: <br />N/A <br />Observations/Alternatives: <br />Allied Development has put together a preliminary concept site plan for review and comment by the City. The <br />concept includes a phased project consisting of a Hotel and 1st Floor Retail (Phase 1) and and Apartment with <br />amenities (Phase 2). The proposed project includes surface and a structured parking component that could be <br />phased as well. The Developer is looking for feedback from the City on the proposed concept. <br />Funding Source: <br />N/A <br />Recommendation: <br />No action is being requested. This case is for discussion only. <br />Action: <br />No action is being requested. This case is for discussion only. <br />Attachments <br />