Agenda - Council - 02/24/2020 - Laserfiche WebLink

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CC Regular Session Meeting Date: 02/24/2020 By: Tim Gladhill, Community Development 7. 4. Information Title: Adopt Resolution #20-039 Approving Preliminary Cost Share Framework for Improvement Project #20-04: Development Initiated Puma Street Extension Project Purpose/Background: The purpose of this case is to approve a preliminary framework for acceptable funding alternatives for the Puma Street Development Initiated Expansion and Safety Improvement Project. The need for this project is being driven by two development projects at the intersection of Puma Street and Alpine Drive. • Riverstone by Capstone Homes • Outlot A, Alpha Development by AKM Farm (Paxmar) This topic was discussed at the February 11, 2020 Work Session with the City Council and Planning Commission. Consensus at that meeting was that this improvement was necessary and that a general cost -share model of an even split between Capstone, Paxmar and the City was desired. That model has since been updated based on discussions with the City Attorney to meet the requirements of Minnesota Statutes Chapter 429 (Local Improvements, Special Assessments). As a sidebar, there was some discussion about the City paying 50% of the costs of the improvements and assessing the remaining balance to the development parcels. However, Staff does not believe there was enough support for this alternative, based on discussion. Therefore, Staff has not run this model. However, if the City Council directs, this additional analysis will be completed on this model. Finally, process is governed by Minnesota Statutes Chapter 429 as well as City Charter Chapter 8. City Charter does not allow for a petition against this project due to size and zoning district (Section 8.4.3). Timeframe: 20 minutes Observations/Alternatives: In 2016, the City began exploring infrastructure needs in the area generally north of Highway 10, west of Armstrong Boulevard and south of Alpine Drive. As that infrastructure analysis was being completed, the City received multiple development proposals. • Bunker Lake Industrial Park by PSD, LLC and Hageman Holdings, LLC (approved, partially complete) • Riverstone by Capstone - Single -Family Neighborhood (approved, partially complete) • Northfork Meadows by Paxmar - Single -Family Neighborhood (denied) • Villas at Northfork by Paxmar - Single -Family Neighborhood (withdrawn, now being reviewed as BK Land Development) Assessment Method In discussing this topic with the City Attorney, Staff is recommending that the City employ the 'Per Net -Developable Acreage' model of assessment. This allows the City to scale the assessment based on the true