HomeMy WebLinkAbout2.B. Senior Housing Update 4 ROSEN EXECUTIVE SUMMARY
CITY COUNCIL
City Council Work Session: June 13, 2012
AGENDA ITEM: Senior Housing Update AGENDA SECTION:
Discussion
PREPARED BY: Kim Lindquist, Community Development AGENDA NO. 2.g.
Director
ATTACHMENTS: DRA project timeline APPROVED BY:
RECOMMENDED ACTION: Discussion Item
ISSUE
In summer of 2011, the City went out for RFP to find a senior housing development partner to locate a
project on the northern portion of the St. Joseph's property. The idea would be to remove the existing
school structure and install a new public senior center and private senior housing project. In September,
the City Council interviewed three development teams and on October 4, 2011, made a motion to work
with DRA on the senior housing project.
Since that time there have been several meetings between staff and the development team. A concept plan
had been designed which has been presented at previous council meetings. However, the project appears
to have stalled as the development team continues to look for financing to construct the project. A copy of
the anticipated timeline that was part of the DRA proposal is attached for your information. City staff had
given Mr. Trucker, the project manager, a deadline of May 31 to move the project forward. We have been
notified that he has not, as yet, been able to secure equity investors which would permit financing of the
project. In an interest to keep the project moving, staff would like to discuss next steps with the Council.
In preparation for the Council meeting, staff has contacted both of the other two development team
proposers who were not initially selected. They both have expressed a continued interest in working on the
project.
RECOMMENDATION
Staff is looking forward to a discussion about the project and options associated with moving the project
forward. This could include choosing a new development partner. And if so discussion about how that
decision is made will also be discussed at the meeting.
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