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Home My WebLink About4.a. Carlson Tractor Redevelopment � . � CITY OF ROSEbiOUNT EXECUTIVE SIIMMARY FOR ACTION PORT AUTHORITY MEETING DATE: OCTOBER 18, 1994 AGENDA ITEM: CARLSON TRACTOR REDEVELOPMENT AGENDA SECTION: NEW BUSINESS PREPARED BY: JOHN MILLER, AGENDA NO. ECONOMIC DEVELOPMENT COORDINATOR 4 . A. ATTACIiMENTS: TIF DISTRICT CREATION SCHEDULE APPROVED BY: / At the port authority meeting of October 4, 1994, the commissioners directed that work be initiated to create a redevelopment district for land known locally as the Carlson Tractor site. This land is located at the southwest corner of Trunk Highway 3 and County Road 42 . Mr. Burt, Mr. Wasmund, and I have had several meetings and discussions with the Carlsons and their advisors . These meetings and discussions have been on both a group and individual basis . We presently believe that the basis of a "redevelopment plan" has been resolved. Presently the Carlsons are interested in the following: 1. Developing a restaurant and motel, construction beginning in 1995 . Central Group Companies of St. Cloud has been identified as the motel operator. 2 . Relocating Carlson Tractor to a site yet to be selected. 3 . Demolition of the Carlson Tractor building and soil correction of the site. 4 . Redevelopment of the Carlson Tractor site to retail and commercial uses providing new services and goods to city residents. To accomplish this the use of tax increment financing will be required. If the board directs the redevelopment plan to be completed by Springsted Inc. , details of the redevelopment would be outlined in the redevelopment plan. Implementation of the redevelopment tax increment district would follow the outlined schedule. The Carlsons have agreed to pay the costs of plan preparation. RECOI�Il�lENDED ACTION: Motion to direct Springsted Inc. to complete a redevelopment plan for the creation of a tax increment district for_ ,�n '� land known locally asr th Carlson ractor site. � ( � '�+xQ,...- �,�}�r __ � �'�� •t �� o�r' f� �,-e,� p.� - �� . � � � �� PORT AUTHORITY ACTION: . 10/13/94 14:52 FAX 612 223 3002 SFRI�GSTED INC. �l002/003 - SPFt1NCSTED - 120 South Sixth Street Suite 2507 PUBLIG FlNANCE ADVISORS Minneap0lis, MN 55402•1800 f�12? 333•4]77 Hame p�Ce Fax: ;612} 349-g230 85 Easc 5eventh Plaee 16655 West Bfuemound Road Suite 100 Saint P�ul, MN 551q1-2I43 Suite 290 (6�2) 223-3QOb Brookfield, Wf 53005-5935 Fax; (6I2) 223•3002 l414) 782-8222 faY� (414) 78Z•2904 68pp College Boulevarc! Suite 50Q Overtand Park, KS 6621I-1533 f 9I 31 345•8052 Fax: i913! 345-1770 1800 K Sheet NW Suite 83I Washington, pC 200p6•22QQ october 13, 199a Fax20202)6 23-1362 Mr. John Miller Economic Development Direci�r City of Rasemount PO Box 510 Rasemount, MN 5sa�$ Re: Redevelepment TIF District for C�rlson Tractor Site Dear Mr. Miller: This letter follows several staff (evel meetings with the ownera of the CarEson �quipment property and their consultants conceming the patential use af tax increment financing to assist the redevelopment af their praperty IoCated at the southwesf comer of County Road 42 and Trunk Highway 3. Wt7ile discussions of specific devetopment program and subsidy requirements remain ongoing, there is general agreement that th� pracess of creating a tax increment finance district on this site be started in advance of the up�t�ming legislative session. Based on aur e�rlier review of this 51tE� we Conclude that it wili be feasible to create a �edevelopment district on this site. To meet the objective of adopting this pian prior to year end, the fol(owing timetable af events is suggested: 4ctaber 18 Port Authority �utharizes plan preparation and approves gener�l timetable Before November 1 County Gommissianer naiification Novemb�r 1 �ln n 1� �Progress report to Part Authority v yn+{�� V November 15 Port Authority approves prelimin�ry pian and requests public hearing November 15 City Cauncil arders public hearing on � praposed TIF plan November 16 pfficial notice of public hearing sent to Gounty and School District . 10/13/94 1�:52 F�1% 612 2�� 3002 SPRINGSTED INC. �]On3/003 City of Rasemount, Minnesota �ctober 13, 1994 Page 2 Before December 9 Publish notice of public hearing December 20 Conduct public hearing and appro�e plan By December 31 Certify the Distric#to County and State In addition to the above events, prior to the December 2U public hearirtg, the City's Planning Commission should be consulted conceming the appropriateness of praposed land uses ciiscussed in the 71F Pian. As noted in the abave timeta�ble, the Port Authority wiif need to take action on November 18 to start this process rolling. We wilf plan to be in attendance at that meeting to answer any questians#hat may arise_ incerely, n � �G��-� David P. rown ( � Vice President rJw /Saint Paui C3ffiCe cc: Mr. Daniel T. O`Neill Mr. Mark Winkelhake Mr. Pat Pelstring