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Home My WebLink About1978/03/14 - ADMIN - Minutes - City Council - Regular 1 MINUTES CITY COUNCIL / HOUSING AND REDEVELOPMENT AUTHORITY ST . LOUIS PARK , MINNESOTA March 14 , 1978 1 . Call to Order The meeting was called to order by President Pro Tem Backes at 7 : 10 p . m . 2 . Roll Call The following Councilmen were present at roll call : Ronald Backes Martha Elstrom Lyle Hanks Jerrold Martin The following Housing Authority members were present at roll call ; Dudley Moylan Joel Glotter Roger Israel Mayor Stern arrived at 7 : 25 p . m . Also present were the City Manager and the Executive Director . 3 . Evaluation The Executive Director presented an evaluation of each proposal for the Excelsior Boulevard stn-L2-1-32!212- area in terms of site plan and development impacts and the financial feasibility . He indicated that the evaluation of the proposals is general in nature , because the proposals as currently developed are preliminary and gtheeneralized . He continued that the site planand development Illustrative imptvPlan , ations are based on conformance zoning the Urbanc} , r compatibili ty Renewal Plan , and Planned Unit Development District ite design standards which are always used by the icyiteria in reviewing de- velopment proposals . considered in s In addition , he mentioned the the review of the economic feasibility were : the tax increment derived he development must be sufficient to repay allublictcosts inr2Q years , and preferably eom t the payoff should be no more thany y to ment should be relatively intense and providrrelatively lf tivelyhigh valueeof development in proportion to the square footage and involved . v rector indicated that a market value of approximately $ 13 The Executive Di per square foot would be desirable . The Executive Director also reviewed various assumptions used for the evaluations . - 101- meti City Council / Housing Authority minutes , March 14 , 1978 Shopping ria ll ; V . R . Boone - The Executive Director explained that a mall in the Excelsior Boulevard area shoulbe ub of high lquality s ishopping with other regional andg in that it will be competing the quality and design of this particular in relatively close proximity ; shopping mall is not yet known . He continued that because of the parking ent would e requirements for such a development , the develominor acquisitionncosts �d of medium density . This project would include however , no relocation or demolition costs would be incurred . This would mean a higher level of tax increment . The Executive Director stated the market value per square foot would be approximately $ 11 . 29 . In response to a question from Dudley Moylan , the Executive Director stated the two office buildings contained in the original proposal were not evaluated because the information the City has received to date is very general . Byerly ' s ; Ryan Construction - The Executive Director explained this particular development will consume a large amount of land and would not produce sufficient revenues to offset construction costs . He added the quality of the development is quite high and if modified , could be a feasible project . It would be necessary to create a second level of parking partially below grade for use of some abutting property . He reiterated that if integrated with a more intensely developed area , this project might be feasible . He continued that the market value of the completed building would be approximately $ 1 . 8 million , and the value per square foot would be $ 7 . 46 . Apartment Development ; Stuart Corporation - The Executive Director explained this development consists of two buildings ( 225 units ) to be constructed north of West 38 Street abutting Wolfe Lake . He continued that the preliminary site plan takes excellent advantage of the site and achieves development objectives . He added that 16 residential properties are involved in this project , involving purchase and relocation costs which are difficult to estimate . It would be possible to stage develop- ment of the two buildings . Joel Glotter stated that multiple- family unit development must be consistent with the City ' s Housing Assistance Plan , and if Minnesota Housing Finance Authority financing is utilized , the development will take a longer time to complete . The Executive Director indicated that the recently adopted Planned Unit Development zoning for this area would allow new single - family houses to be developed in this area . He added if the City would acquire the land and sell it to developers , there might be a loss of about $ 400 , 000 . He added the City could also acquire the land as it becomes available on the market . - 102 - It1 City Council / Housing Authority minutes , March 14 , 19781 3 t 1 In response to a question from Councilman Hanks , the Executive I Director stated the development is 1 p proposed to be five stories high , a and the value per square foot would be from between $ 20 to $ 40 . I 1 1 Senior Citizen Housing ; Diversified Equities - Because a site plan has I I not been submitted , the Executive Director indicated a site evaluation E was not conducted ; however , he said that an economic feasibility was determined on the basis of 135 units at an abated tax . The value per j square foot of the completed development would be $ 22 . 80 . j 1 Office Building ; Anderson- Cherne - The Executive Director explained a four - story office building containing approximately 50 , 000 square feet , i has been proposed at the corner of Wooddale Avenue and West 39 Street , $ with the prime tenant being a bank . He continued the site plan pro - 1 vided for substantial parking area and drive - in facilities . There would be need for some adjustment of this plan because of the large amount of open parking proposed , and the drive- in teller facility would act as a barrier to the integration with other development . Because some relocam, i tion and potential acquisition is involved , the public cost might increase . I He continued that the market value on a square- foot basis is estimated to be $ 15 . Supermarket ; Fine Associates - The Executive Director indicated an additional proposal has been received for a supermarket of 40 , 000 square .:;:::feet . He indicated this supermarket proposal has less parking area , so the relative value per square foot might be higher than the other super- market proposal received . William Fine stated the site for the supermarket has not yet been determined but will most likely be proposed for north of Excelsior Boulevard . ��" The Executive Director stated United National Corporation had submitted a development proposal , but because of other commitments , will not be submitting a refined proposal at this time . : _ Councilman Hanks inquired as to possible changes in traffic patterns in the area . The Executive Director stated a north- south street within the . . development area is not anticipated at this time , and signals and access • - . points along Excelsior Boulevard will be modified . Councilman Hanks expressed concern relative to the congestion ad dcaffic problems at the intersection of Wooddale and Excelsior Boulevard indicated this is a prime concern of the area business people . The Executive Director stated a straightening of the Wooddale roadway at Excelsior Boulevard is contemplated ; he also explained the proposed traffic patterns within and around the development area . •'i � Y ♦` - 103- .N Lt3:7:11 City Council / Housing Authority minutes , March 14 , 1978 Hanks stated it is necessary to realize that public d icecosts must uCouncilmanparking , etc . ,N for roadway , uncil musttbe assumed by the Cityual proposals as part of an overall and Authority must examine the niincrements and revenues to be development package to determine tax achieved ' in the future . in the process would be to The Executive Director stated theproposed and pending development hex develop an integrated plan using costs . proposals submitted and identify associated public Councilman Hanks inquired as to potential action if certain proposals did not appear feasible in an integrated plan . Mayor Stern stated he could not support any project that is not economically viable . Dudley Moylan stated it would be possible to have higher expenditures esittthan revenues on a particular development in order to obtainan for the total development area . Councilman Backes stated it is necessary to identify positive projectp which will support some of the public costs . It was moved by Councilman Hanks , seconded by Dudley Moylan , to prepare an integrated plan using the proposed and pending development proposals and to develop an integrated financial plan based on an amalgamation of identified and acceptable private development and public improvement for • the area ; also to be considered in preparation of the integrated plan are adjustments due to changes in the tax increment law . Joel Glotter stated the integrated plan should evaluate traffic considera- tions and patterns for the area . The motion passed unanimously . It was decided the next joint meeting would be held on April 18 , 1978 , at 7 : 30 p . m . Councilman Hanks requested the Excelsior Boulevard Advisory Committee have an opportunity for review of the plan and input prior to the joint Council / Authority meeting . 4 . Adjournment The sheeting was adjourned at 8 : 45 p . m . iv Irvi g M . - tern • Mayor Attest : r 6 -- Wendy Sor Recording Secretary - 104-