Agenda - Economic Development Authority - 12/06/2018

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Economic Development Authority (EDA) 4. 1. Meeting Date: 12/06/2018 By: Sean Sullivan, Community Development Title: Consider Purchase Agreement for Harvest Estates 2nd Addition (former Municipal Center); Case of Meadow Creek Builders Purpose/Background: Meadow Creek Builders has submitted a signed Purchase Agreement, with $10,000 in earnest money to purchase Lot 25, Block 1, Harvest Estates, the location of the former Ramsey Municipal Center. The proposed purchase price is within the City's approved deal range for this parcel; however, would require a Zoning Amendment or Variance to Lot Size and Lot Width for the underlying Zoning District. The Planning Commission will be taking up this policy issue at their Regular Meeting on Thursday, December 6. The Purchase Agreement includes two development concepts with two pricing options. The site has challenges relating to the amount of fill that is needed to develop the site effectively. The Puchase Agreement allows for two options that will ultimately be resolved to a single option at Preliminary Plat approval. This is the same approach utilized for Centra Homes for Cottages at The COR. • Layout 1 for the developer includes 15 lots and a purchase price of $180,000. This alternative would require a Zoning Amendment. This alternative would require a revised Preliminary Plat and would require Planning Commission review before City Council action. • Layout 2 includes 12 lots, as previously approved for GS Land, but has a purchase price of $10,000. This would not require a Zoning Amendment, already has Preliminary Plat approval, and could proceed directly to City Council for Final Plat approval. Notification: Staff has attempted to notify all Property Owners within 700 feet of the Property of the Planning Commission Sketch Plan Review on December 6, 2018. Observations/Alternatives: The Developer has received permission to start bringing needed fill on site. The Developer has agreed to waive all claims to this soil if a Purchase Agreement is not approved, and waives the City of all liability in the hauling of said soil. The soil is to be tested before bringing on site. Funding Source: This case is being handled as part of normal Staff duties. Recommendation: Staff recommends approval of the attached Purchase Agreement, which provides flexibility the final determination of the site layout. Action: Motion to recommend that the City Council approve the Purchase Agreement for Lot 25, Block 1, Harvest Estates. Attachments