2018.02.06 WS Minutes - Laserfiche WebLink

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development community generally favors this process over the RFP/RFQ process. Staff has a list of 20 developers who we have outreached to and are working on scheduling meetings for February 12, 14, 19, and 21. DCAD staff (Craig and Janice) and Jason Aarsvold will attend the meetings from Ehlers. Staff recommended that the entire Korean Church site not be considered for affordable housing as it would be too much. Gundlach stated related to Korean Church, staff was contacted by Les Mateffy who currently owns 629 Old Highway 8 NW. Mr. Mateffy wants to sell his property and inquired if the City has interest. Staff delayed giving Mr. Mateffy an answer as the inquiry came around the election last November. On January 31, Mr. Mateffy contacted staff again indicating he plans to put the property on the market, should the City decide not to purchase the property. Staff requested additional time to meet with the City Manager and Council, which he agreed to. Mr. Mateffy is looking to sell for a price of $450,000-$500,000. The 2018 property tax statement notes a market value at $500,000. Funds to purchase the property would be taken from Redevelopment Fund 560. This fund has been used over the last two years to support the $1.9 million Korean Church acquisition and borrowing to Lion's Park. This fund also borrows to New Brighton Exchange. Staff requested direction from the Council on whether or not to engage further on the purchase of this property. Mayor Johnson asked when the community would be brought in to provide their comments on the redevelopment of the Korean Church. Gundlach stated public comment will be pursued after a developer was in place for this project. Lotter agreed the Council should wait to gain public comment until a developer has plans in place on what the market can support for this property. Gundlach stated the City could explain their intentions for the Korean Church site during the neighborhood meetings, but did not want to get too ahead of itself. Councilmember Burg appreciated staff's approach regarding this property. Mayor Johnson commented on the market rate apartments that were being built in Mounds View. Gundlach stated she wanted to move quickly with this project given the fact the housing market can support development at this time and she did not want to see a market slow down. Davitt provided the Council with further information on the funds available within the City's Community Reinvestment Fund which could be used to purchase the Korean Church property. She discussed how this fund would be replenished over time by TIF funds. She noted Ehlers would have an updated dashboard for the Council to review at an upcoming meeting. Lotter explained the City has been so financially disciplined that it has the opportunity to make this purchase and reinvestment in the community. Councilmember Burg stated she supported the purchase of the 629 Old Highway 8 property. Mayor Johnson supported the purchase of this property as well and noted the redevelopment of this property would assist in improving the appeal of Old Highway 8. She was pleased the Council was willing to invest in the community in order to enhance the Old Highway 8 corridor. Councilmember Allen commented the purchase of the 629 Old Highway 8 property would improve the transit/traffic issues surrounding this redevelopment. Councilmember Dunsworth agreed this was a huge opportunity for the City and would be a great location for redevelopment. Councilmember Jacobsen stated he could support the City moving forward with the purchase of this property so long as an upper limit was set for the price.