CCP 11-26-2012 - Laserfiche WebLink

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APi likes the site because of the proximity to their current site, and would prefer not to develop across Old Highway 8. Commissioner Knight asked why APi was not required to perform as required in the original contract. Director Fernelius explained that doing so may have resulted in costly litigation. Director Fernelius directed the commission to Attachment 2, showing the two building proposal submitted by APi. Building one would start to be constructed in 2014. APi would like the option for a second(larger) building. Fernelius reported that Colliers has been meeting with a group interested in residential development. It was suggested that the EDC will be helpful in looking at whether to hold off for possible residential development, or look closer at the commercial proposal for APi. Commissioner Murlowski indicated that he is not in favor of the split or the option for the second parcel. Director Fernelius summarized the financial analysis spreadsheet comparing residential and commercial development options; as well as comparing the APi proposals to the original concept plans. Director Fernelius noted that APi has submitted a real proposal, others are theoretical. Commissioner Neumann-Walker questioned if the City costs (Public Safety, etc.) may be greater for apartments than for office building. Director Fernelius noted that was a valid point; and the City is aware that they are creating additional demand in the New Brighton Exchange area. Chairperson Zisla suggested the commission consider if they have an opinion on commercial verses residential on the site. Director Fernelius asked the commission to consider if they feel the City needs additional housing opportunities. Commissioner Murlowski stated that he favors residential development; noting that it is promising to have a commercial proposal. Commissioner Neumann-Walker asked about the occupancy rate of The View. Councilmember Burg stated that they were at 35%prior to completion; which was ahead of their anticipated schedule. Commissioner Knight expressed his appreciation to Director Fernelius for providing clarification, stating that it is still difficult to form an opinion, as so much of the proposal is vague. Chairperson Zisla stated that he understands how the original plan of primary residential development may be better utilized as office space. Director Fernelius suggested he would talk to Stuart Co. and Pulte to see what their reaction would be to changing the use from residential to commercial on Block G. Commissioner Hansen stated that she feels it would be better to wait for a residential proposal. Ms. Hansen also commented that she wants to see the original vision of shops and restaurants supported. Commissioner Knight suggested the City look at their strategic plan again, because of the economic changes that have occurred; noting he would like to get a written recommendation from Colliers. Commissioner Neumann-Walker asked when Pulte will make a decision on their possible development project. Director Fernelius responded that will be the end of October. Councilmember Burg stated that timing is something to consider as well, Director Fernelius summarized the discussion stating that the commission is interested in the concept; although concerned with the impact on the other residential developments. Director Fernelius asked if the commission was in support of asking Colliers to complete a feasibility study. Commissioner Knight asked Director Fernelius his thoughts on the proposal. Fernelius responded that he has mixed feeling; noting that APi has been a good corporate neighbor. Chairperson Zisla reminded the commission that no action on this item is required today, and the next meeting is scheduled for November 20t. Update on Pulte Homes Due Diligence