2019.01.22 CC Minutes - Laserfiche WebLink

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January 22,2019 Page 6 of 9 Motion by Councilmember Burg,seconded by Councilmember Allen to adopt Ordinance 866 conditionally rezoning the identified properties to R-3B. City Manager Lotter indicated Assistant Director of Community Assets and Development Gozola would be presenting this item to the Council. Assistant Director of Community Assets and Development Gozola stated State law provides cities with nine months to update zoning ordinances and maps following approval of a new comprehensive plan. The recently approved 2040 Comp Plan will initiate that time clock,and approval of these two ordinances(865& 866)will be the first step in meeting the City's legal obligations. Both ordinances are needed at this time to allow developers to initiate the application process. Delaying either project(provided they meet the goals and objectives of the new plan)serves no public purpose. He explained the rezoning of these lands was not optional and reported the Ordinances were only panting conditional approval at this time. He commented further on the redevelopment plans for the New Brighton Elementary School and discussed the feedback the Planning Commission received at their January 15th meeting. He stated after much discussion and consideration the Planning Commission recommended adoption of Ordinance 866. 5 Ayes,0 Nays-Motion Carried Motion by Councilmember Burg,seconded by Councilmember Dunsworth to adopt a Resolution ordering a summary publication for Ordinance 866. 5 Ayes,0 Nays-Motion Carried 2. Consider Authorization of Term Sheets with Dominium and Pulte for the Dc\clopmcl It of 2.ConsiderAuthoriratiom the former New Brighton Elementary Site. of Term Sheets with Dominium and Puke for the Development ofthe Motion by Councilmember Allen,seconded by Councilmember Burg to authorize the Mayor and former New Brighton City Manager to execute the Term Sheets. Elementary Site City Manager Lotter reported Development Attorney Landsman and Community Assets and Development Director Schlichting would be presenting this item to the Council. Development Attorney Landsman described how Term Sheets were defined and explained the sheets would be used to negotiate a future redevelopment agreement. He reported the term sheets were not binding on either party but rather serve as a non-binding guide in negotiating the redevelopment agreement. He then provided the Council with definitions for the terms redevelopment and redevelopment agreement. Community Assets and Development Director Schlichting explained the City Council directed staff to work with Dominium and Pulte on Site Plans. He reviewed the parcels that were included in this redevelopment project. A first step towards the creation of plans and specifications is to enter into Term Sheet Agreements with each party. Term Sheets outline the general deal parameters and obligations of a development proposal that consists of construction of 204 affordable senior/50+ apartment units, 154 affordable family apartment units, and 53 single-family townhomes. Staff offers the following summary points from the term sheets: • The City would sell Pulte and Dominium— 12 acres of land • Pulte and Dominium would hire architects and engineers to develop plans and specifications (conceptually depicted on Exhibit A of the term sheet). • The City would sell Pulte the land for $15,000/unit of housing, and Dominium for $8,000/unit of housing. • Dominium will reimburse the City an administrative fee for issuance of conduit debt. • Dominium and Pulte will close on the land on or before December 31, 2019.