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Block B Status Report <br />City Council Work Session – 4-12-22 <br /> <br /> <br /> <br /> <br />Page 2 <br />Third Party Land Transaction Fee of $0.14 per square foot of parcel being transferred, but in no event shall the <br />amount of the Third Party Land Transaction Fee for all sites combined exceed $100,000. <br />Staff occasionally receives inquiries on Block B, but the development of this site is very challenging. To <br />address developers concerns on extraordinary costs, it is expected that the City would collect increment from a <br />development project and reimburse the developer for those costs over time. Depending on the overall value of <br />the project the increment collected may not be enough. To bridge this gap it may also be required that the City <br />use land sale proceeds from the development. <br />Additional data enclosed for discussion purposes: <br /> 2018 New Brighton Exchange Development Report <br /> Conceptual Cross Section Block B <br /> Block B Brochure <br />