EDC 11-16-2010 - Laserfiche WebLink

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EDC Meeting November 16, 2010 Page 4 Enhanced Service Sharing (cont.) and planting beds at the main entrances into the development along Old Highway 8. Future enhancements will include other median areas and park/common area treatments. These are generally higher levels of service not provided by the City. The plan is to have the developer and users who benefit pay for these services. Staff is currently working on the list of enhancements and cost estimates. However, Stuart Companies would be responsible for about 5% of these costs, based on percentage of land area. Schedule November 23, 2010 December 3, 2010 December 21, 2010 January 11, 2011 March 2011 April — May 2011 June 30, 2011 December 31, 2011 December 31, 2012 Office Marketing Efforts Council considers Development Agreement. Submittal deadline for December 2010 Planning Commission meeting. Planning Commission meeting to review land use applications. City Council considers land use applications. Construction plan review and permit process. Close on land and construction financing. Deadline for ground breaking and first disbursement of cash assistance ($500,000). Deadline for second disbursement of cash assistance ($700,000). Deadline for project completion. The City Council approved a consulting agreement with Arne Cook to assist the City in finding a developer or broker to market the commercial sites. Cook is a former executive with CSM Corporation, a commercial real estate developer here in the Twin Cities. Cook is now an independent consultant, who staff believes could assist the City in structuring a broker or developer arrangement to begin aggressively marketing the Northwest Quadrant. In the next few weeks he'll meet with some of the larger firms in the market to assess their interest in the project. Staff will provide updates to the EDC as this process moves along.