CCP 05-28-2013 - Laserfiche WebLink

Home Browse Search

Fernelius stated that the APi proposal was intriguing to the City, as it would generate tax increment in value, although high density residential was originally planned for the site. Fernelius stated that he expects a few back and forth discussions with APi regarding the term sheet. Once the term sheet is framed up,pending Council's approval a redevelopment agreement will follow. Update on Pulte Homes discussions It was reported that Pulte plans to build 86 single family homes, with 34 town homes planned in 2017- 2018. The City presented a term sheet to Pulte in February 2013. It was noted that Pulte likes to use a purchase agreement; while the City prefers a term sheet. Commissioner Zisla stated that the commission could offer advisory assistance. Commissioner Potter asked how a fair land price is determined. Director Fernelius stated that the base line was established with Pulte's original offer; followed by an appraisal to determine reasonable value. It was also noted that there is a difference between the land price and the finished lot price. Commissioner Murlowski questioned if Pulte will be responsible for additional soil and road costs? Fernelius stated that the City prefers Pulte remains responsible for infrastructure costs; it was noted the City may have the opportunity to acquire fill at a reasonable cost. This could be used in negotiations. At 8:12 am Scott Landsman stated that the Commission will enter Closed Session pursuant to Minnesota Statute 13D.05,Subdivision C3 to discuss the offer and counter-offer of the sale city owned property identified as Block I-New Brighton Exchange. Motion by Commissioner Zelm, seconded by Commissioner Potter to enter into closed session at 8:13 am. 6 Ayes-0 Nays,Motion carried Motion by Commissioner Potter, seconded by Commissioner Carrell to exit the closed session at 8:50 am. 6 Ayes-0 Nays,Motion carried At 8:50 am Scott Landsman stated that the Commission will exit the Closed Session pursuant to Minnesota Statute 13D.05,Subdivision C3 to discuss the offer and counter-offer of the sale city owned property identified as Block I-New Brighton Exchange. The regular meeting resumed at 8:50 am. Director Fernelius reported both APi and Pulte are progressing. Commissioner Beach commented that if APi is intending to establish a fracking component, that may be a short lived industry. It was pointed out that APi has many other strong entities. Director Fernelius reviewed a copy of the January market report from St. Paul Area Association of Realtors on residential sales activity. This report seems to suggest that the market is showing signs of recovery. Director Fernelius stated that the City is creating a marketing video with CTV. The video will be available on the New Brighton Exchange website, as well as other media venues. Adjournment Motion by Commissioner Beach, seconded by Commissioner Carrell to adjourn the meeting. Meeting adjourned at 8:57 a.m.