CCP 05-27-2014 - Laserfiche WebLink

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A member questioned the value of the project. Mr. Aarsveld explained the square footage would be valued at $70 per square foot in 2016 and would increase to $125 over the next six years. Staff believed these were conservative numbers. The TIF proposed for this project was then discussed. Chair Zisla asked if Lot E or B would work best for parking. Director Fernelius commented the City would continue to work with CSI on this matter, but anticipated that Block E was the most attractive. He anticipated Lot E would have to be split. The remainder of Lot E could then be split with Lot D for a future development. Potential land and environmental prices were briefly discussed. It was noted the City wants to remain competitive in order to draw projects to the City of New Brighton. Commissioner Garcia -Perez inquired if the Pulte project was being coordinated with CSI to draw future employees to the area. Director Fernelius stated the projects were not being coordinated, but anticipated that some future employees may look to relocate into the City. A member questioned the expense to prepare the site for CSI. Director Fernelius estimated this to be $500,000. The EDC discussed how traffic would flow to and from the CSI property. Chair Zisla requested further information on the business subsidy plan. Director Fernelius discussed the proposed business subsidy plan and described how the City needed to have this policy in place in order to facilitate the CSI project. It was noted the policy would allow CSI to receive State funding, in the amount of approximately $2.5 million in assistance. Staff described the differences between the CSI, AN and Pulte Homes projects, along with the concessions being made by the City. Commissioner Murlowski wanted to be ensured this policy would not come back to haunt the City in the future. Mr. Aarsveld stated CSI would have wage and job goal requirements from the State and explained the City would have its own agreement with CSI. He reported the required $13.00 per hour job would be the pay scale floor. He indicated the jobs goals for CSI would have to be reported to the State for two years. Chair Zisla questioned if staff required any action from the EDC. Councilmember Jacobsen stated a motion of support would be beneficial. Commissioner Benke was pleased with the direction this project was heading. Motion by Commissioner Zelm, seconded by Commissioner Benke stating the EDC supports the efforts of the City in moving forward with the CSI project. Approved 8 -0. Update on Pulte Homes project Director Fernelius reported Pulte Homes and the City reinstated an amended contract for private development. He explained there were unanticipated delays with the MPCA and Pulte was still working to obtain the necessary environmental approvals. Pulte was working on sample environmental covenants and engineering details for the venting system. It was Pulte's goal to have three models ready for the 2015 spring preview. Update on APi Group expansion Director Fernelius reported APi continues to work on building and site plan details. It was anticipated the project would break ground in September of this year. Monthly Marketing _ Report Director Fernelius reviewed the marketing report from Colliers on activities related to the east side of New Brighton Exchange.