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HomeMy WebLinkAbout2002.12.12 PACKET AGENDA COTTAGE GROVE CITY COUNCIL JOINT MEETING WITH ECONOMIC DEVELOPMENT AUTHORITY December 12, 2002 WORKSHOP — 6:30 P.M. CALL TO ORDER — Mayor ROLL CALL — City Clerk 1. Sessions A. Joint meeting with the EDA to discuss direction and vision for new development and redevelopment planning B. Closed Session: Continuation of City Administrator Performance Evaluation ADJOURNMENT City of Cottage Grove Memo To: Mayor and City Council, Economic Development Authority From:Ryan R. Schroeder Date: 12/06/02 Re: Visioning Meeting The Council and the EDA have scheduled this meeting to vision (articulate the dream) regarding the future development, aesthetics and use of the 365 acre Gateway North Development District. We have enclosed maps of the Gateway District for orientation purposes. Larger maps will be available at your meeting. The various issue/topic areas, among others perhaps are: 1. Aesthetic and quality demands of construction within the Gateway. While we have guidelines that have been approved by both bodies (prepared by KKE Architects), it would be helpful to staff to hear your collective verbal definition of aesthetic visions. 2. Development staging: We have received some comments that we should slow and take a respite on the development pace. We have also received just the opposite view. It would be helpful to hear the consensus opinion. 3. Aesthetic Treatments within the district: i.e.: pavers, fountains, monumentation, fencing, banners, lighting, signage, landscaping, ponding (could not help myself). 4. Development types: Recently we have perceived Cottage Square as a mixed use development with perhaps a four-story residential structure with between 30,000 square feet and 80,000 square feet of retail/office/public uses (i.e. County or City office space). Does that meet your requirements/desires or would you just as soon have purely a commercial redevelopment/rehab project occur there? 5. Highway entry treatments: We talk from time to time about dressing up the area along the highway as one enters Cottage Grove from the north. Envisioned as been integrating regional ponding into a park like setting west of the highway concurrent with development of the east side of the highway. • Page 1 6. Development type, density and aesthetic of the Fratalone/Ott properties. Expected is that something larger than 70,000 square feet could be accomplished on an estimated 16 acres of land. 7. Thoughts about the shopping center north of Grange 80th on the West side of the Highway. 8. Frontage road treatments and/or development along east and West Point Douglas as one enters the Gateway from the south. 9. Other? • Page 2 Gateway Redevelopment District Market Value Projections Using Min. Assmt Agreements and County Estimates May, 2002 Development 02 FAV Pay 04 Pay 05 Home Depot 0 4,850,000 5,775,000 Grove Plaza 6,867,000 4,363,333 5,045,000 GP Remnant 178,800 141 ,300 141 ,300 Kohl's 1 ,352,000 1 ,352,000 5,600,000 US Bank 1 ,075,200 2,295,000 2,295,000 Walgreen's 1 ,934,000 1 ,837,100 1 ,837,100 TCF 0 988,700 988,700 Retail Strip 0 1 ,646,700 1 ,646,700 Cottage Square 1 ,836,300 2,995,500 2,995,500 Totals 13,243,300 20,469,633 26,324,300 Future Opportunities Approximate Project: Taxable MV Projected MV Projected SF Bldg Acreages Oakwood City 0 3,720,000 30,000 3.8 Bruhn/Stoltz 148,000 2,480,000 20,000 2.5 Kohl's Remnant 24,600 744,000 6,000 1.4 Fratalone/Ott 284,800 8,680,000 70,000 16 OakPark Comm. 247,700 2,600,000 28,000 2.5 Cederstrom One 74,300 570,400 4,590 0.8 Cederstrom Two 76,500 558,000 4,500 0.8 Total 855,900 19,352,400 163,090 27.8 Note: Lot coverages generally assumed at 12% but for large parcels and taxable market values are estimated at$124/SF of building w t • •ri# • - t '; ? 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