HomeMy WebLinkAbout9.i. Carlson Properties - Financial Assistance � CITY OF ROSEMOUNT
EXFsCUTIVE SUNIlKARY FOR ACTION
CITY COUNCIL MEETING DATE: APRIL 5, 1994
AGENDA ITEM: CARLSON PROPERTIES - FINANCIAL AGENDA SECTION:
ASSISTANCE OLD BUSINESS
PREPARED BY: JOHN MILLER, AGENDA �}�� � � �
ECONOMIC DEVELOPMENT COORDINATOR 1 !
ATTACI�iENTS: MEMO FROM CITY ENGINEER APPROVED BY:
OSMUNDSON
Carlson Properties will shortly be starting construction of its strip
retail center. As the plans for the center have evolved and as other
activity, e.g. GTI Theaters and Vermillion Bank, has been initiated, the
city and county engineering departments have identified the need for road
and street improvements at C.R. 42, Canada Avenue, and Chippendale Avenue.
Mr. Osmundson' s memorandum addresses this in greater detail .
Presently, county policy requires that road improvements required to serve
new, private development be paid for by the developer. In this case,
however, several properties and property owners including many existing
businesses will benefit from the new street and road geometrics . It has
been suggested that the county may fund a portion of street improvements .
And in addition, Carlson Properties has also visited with city engineering
-and administrative people regarding a short term "local effort tax
increment finance" program for part of the cost. Early discussions were
directed to using only a portion of the city' s share of the property tax
for a period of about four or five years for road improvements .
RECO1�iENDED ACTION: 1) Motion to direct the city engineer to contact
Dakota County to request participation in completing planned street and
road improvements in and around the C.R. 42, Canada Avenue, and
Chippendale Avenue areas .
2) Motion to direct the city' s development staff to work with Carlson
Properties on development of a city assisted program for street and
road improvements in the same area.
COIINCIL ACTION:
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UTY HALL
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TO: Mayor E.B. McMenomy
Council Members : Anderson
Busho
Statts
Wippermann
FROM: Bud Osmundson, City Engineer
DATE: April 1, 1994 '
SUBJ: Rosemount Village Square_ Access
Carlson Properties Inc. as the Developers of the proposed Rosemount
Village Square have requested the City to request the County to
participate in the payment of construction of the right turn and
left turn lanes immediately into the proposed shopping center. As
you may remember at the last Council meeting, Council authorized
Staff to send a letter to the Dakota County Highway Department
requesting that the County add the two right turn lanes at
Chippendale and Canada Avenues off of CSAH 42 to the 1994 Dakota �
County Capital Improvements program. Furthermore, we raised the
issued that since the City does not have funding designated for the I,
City' s share of such improvements, that the cost would have to be '
b�rne by the Developer for the shopping center site. The normal �,
County/City cost sharing split is that the County would be '�
responsible for 55o and the City would pay 450. The 45°s share is ',
City cost and what I was referring to as that the Carlsons would ',
have to be responsible for. At this time, the Carlsons are ',
requesting that the additional right turn lane and left turn lane ',
in directly to tn.e site also come under this County/City ',
cooperative effort and cost split . ,
County staff at the Dakota County Plat Commission had informed the �'�
Carlsons that the Dakota County Highway Department had never paid '
for improvements on private entrances before. However, the ',
Carlsons would respectfully request that the City would support ;
this request to the Dakota County Highway Department. '
The Carlson Properties has indicated to City Staff that the� are ',
requesting some kind of local effort financing for such ',
improvements and John Miller' s memo addresses these issues.
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C1,.l�e�ON I�1�OI��I�.�'I�e� o��o��ou�r
Box 69 • 12osemount, Minnesot� 55068 � 612 • 423 � Z22Z
March 30, 1994
Mr. Tom Burt, City Administrator
City of Rosemount
2875 145th St.West
P.O: Box 510
Rosemount, Mn 55068-0510
Re: County Road 42 Improvements, Chippendale AVe, Canada Ave&Rosemount Village
Square Entrance.
Mr. Burt:
As a result of our many discussions about County Road 42, with Rosemount offcials,
County & City staff their has been a desire to complete safety and operational
improvements to County Road 42 at Chippendale & Canada Ave. as soon as possible:
The city staff has struggled with a source of money to fund these improvernents. The
County has said that it could work their share of the funding (55%) into the 1994 work
program, but the city did not have its 45% ear marked for 1994. City staff has indicated
that future assessments would be the probable source of payment for the cities share of the
approvements when the improvments are installled.
We would propose that a project be established to improve County Road 42 in 1994 that
would include the following:
*Right turn lane East bound County Road 42 at Chippendale
*Right turn lane East bound County Road 42 at Canada Ave.
*Right turn land East bound County Road 42 that would enter the RVS.
*Left turn lane West bound on County Road 42 to enter RVS.
We would propose that the city make application to the county for 55% of the
improvement cost for the four improvements mentioned above. Further we would
propose that the city authorize in 1994 a local effort tax increment financing project to
fund its 45% share of the cost of these improvements. By issuing improvement bonds,
Carlson Properties of Rosemount would cooperate by designating a portion of
Rosemount's new tax revenues generated by RVS to make the principal & interest
payment to retire bonds.
Could you at your earliest convineance ha.ve discussions with the City council as to
whether there is merit in investing a portion of Rosemount's new tax renevue to make
these needed improvements in 1994.
Sinc Y,
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For Carlson Properties of Rosemount
cc: Thomas W. Heiberg Land'Sake