CCP 08-28-2012 - Laserfiche WebLink

Home Browse Search

Chair Zisla asked how the New Brighton site fits their plan? Mr. Peterson stated that there has been increase in demand for move up housing, noting New Brighton has a strong school district, and good access to both downtowns and the area is not currently heavy supplied. Additionally the site is surrounded by the park, along with a beach. Future development can provide more amenities to promote a walkable community. Commissioner Zelm asked what the population of the area would be. Mr. Peterson stated the average household is 4.3 persons. Chair Zisla commented that the earlier thought of seniors selling their homes to younger families has changed to the young families buying the newer move-up homes. Commissioner Beach questioned the reason townhomes are included in the proposed development plans, and if there are any plans for 55 and over housing. Mr. Peterson stated that the seniors in the community are hoping to sell their existing home for 2005 pricing, and because the market has changed, it is not economically advantageous for seniors to sell. Mr. Cermak reported that many buyers with young families are interested in buying new, in an area with similar aged families. Mr. Peterson noted that the 34 townhomes are included in the plan to preserve the original vision of the area; noting that they would not be built out immediately. Commissioner Beach questioned the requirement for affordable units. Director Fernelius responded that the City received a grant requiring 12 units be offered as affordable housing. The townhomes would satisfy that requirement. Commissioner Zelm stated that she does not necessarily see a majority of seniors moving to townhomes or condominiums. Mr. Cermak stated that they offer rambler plans for older families; as many enjoy being in a community with younger families. Mr. Cermak reviewed floor plans, and invited the commissioners to visit the model homes in Plymouth later this fall. Paul Heuer explained the site plan, containing 85 single family units, and 34 townhomes; 4.5 units per acre. Various park options were introduced as well. Commissioner Knight questioned why the Pulte concept generates 50% more gross TIF revenues per dollar of market value than either of the city concepts. Mark Ruff explained that last year, the State eliminated the Market Value Homestead Credit aid program; which gave proportionately more dollars for lower value homes. Mr. Ruff reported that the State requested the County lower the property values. Now because the value is excluded, the City loses the value and the tax increment. Townhomes produce less tax increment than single family homes because of their lower value. Commissioner Knight stated that the June 3rd projections; indicating that the estimated taxable market value differs from the chart included in chart distributed in the June 19th packet materials. Director Fernelius stated that there may have been a typo from the June 3rd notes to the June 19th notes. The analysis is intended to show how the previous assumptions have changed,primarily less value and less increment. Mr. Ruff stated that the speed of the development will be a factor as well. Director Fernelius summarized that the Pulte concepts compare favorably; because of the higher value homes being built sooner than anticipated. Mr. Ruff commented that this concept upon closer analysis; currently looks to be a financially positive option. Commissioner Zelm questioned the basis of city concept one and two. Mr. Ruff responded that these are based on the current tax situation. Commissioner Beach asked about the anticipated time frame if the project goes forward. Mr. Peterson estimated 24 sales a years, so about a 4-5 year time frame. Councilmember Burg asked if similar products are being offered, and if there is a popular design. Mr. Peterson stated that the proposed products are new offers, while some interior concepts are similar, comparable styles will be available in the fall.