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

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impacts of new development as opposed to the 'Per Front Foot' model. The Per Front Foot model works great for reconstruction of existing residential roads in residential neighborhoods as each lot derives as similar benefit. In the case of development parcel, impacts are driven more by the overall size of the project as opposed to a road frontage calculation. The City owns real property (Outlot C, Alpha Development) at the southeast corner of Alpine Drive and Puma Street. This parcel was acquired for park dedication purposes that could either be developed as a park OR any cash received for sale conveyed to the Park Dedication Fund. As owner of real property, the City will be responsible for a portion of the base assessment. City Contribution to Collector Road As noted above, the City will be responsible for a portion of the base assessment as real property owners of Outlot C, Alpha Development. The City should consider this assessment amount in land sale transactions to adjacent developers. At the February 11, 2020 Joint Work Session with the Planning Commission, consensus was that a general City contribution (Municipal Contribution) was appropriate given the status as a collector road. Direction was given that an approximate 33% contribution was desired. This amount is the basis that was used to developed the attached cost share model. Total Assessment Amount and Preliminary Assessment Amount Attached to this case is a detailed breakdown of the proposed Project Proforma. Future Discussions This case is intended to serve as high-level policy direction. Next steps including, but not limited to Feasibility Report, Approving Plans, Awarding Contract and holding Assessment Hearing will provide additional levels of detail. The intent of this step is to limit the number of alternatives Staff should explore. Alternatives Alternative 1 - Approve the preliminary framework as proposed (Contribute $225,000 to the Collector Road and assess remaining balance using the per acre method). Alternative 2 - Approve the preliminary framework as proposed, but with modifications. 1. Collector Road Contribution Amount 2. Assessment Method (linear frontage vs. net developable acreage) Alternative 3 - Do not move forward with the project. Funding Source: The funding for this project is proposed to be a combination of City Contributions and Developer/Property Assessments as outlined below. As it pertains to the City's Cost Share (Municipal Contribution to Collector Road + Assessment Amount for Ownership of Real Property), several funding sources are available. 1. City's Public Improvement Revolving (PIR) Fund (generated from local property tax revenue) 2. Anoka County Redevelopment Authority (ACHRA) 3. State of Minnesota Municipal State Aid (MSA) Account Cost Share Breakdown Property/Party Amount Percentage Paxmar/AKM Farm Outlot A, Alpha Development $225,025 29.21%