HomeMy WebLinkAbout3. Individual Presentation of Motel and Motel/Restaurant Proposals CITY OF ROSEMO'U1�TT
EXECUTIVE SUbIlKARY FOR ACTION
PORT AUTHORITY COMMISSION MEETING DATE: JUNE 22, 1993 .
AGENDA ITEM: PRESENTATION OF MOTEL AND AGENDA SECTION:
MOTEL/RESTAURANT PROPOSALS
PREPARED BY: JOHN MILLER, AGENDA ����A � �
ECONOMIC DEVELOPMENT COORDINATOR �y�
ATTACHMENTS: NONE AP ROV B :
At the June 17, Port Authority staff ineeting, the issues surrounding the
development of a motel in Rosemount were reviewed. In brief our
recommendations to you regarding the project at this time include:
1. The best site appears to be Lund-Thorsen. While utilities are
available and the land is presently for sale, other site
considerations including road access and ponding limit the
intensity of development the site could support. A theater for
example is too intense a use.
2 . No other site was identified as workable. The Carlson °Tractor°
site was eliminated for example because the asking price was too
high. The business park site because of utility issues.
3 . At this point, tax increment financing appears to be the most
risk free approach to aiding the project. This does not appear
to be the form of assistance requested in the proposals.
Prior to Tuesday night ' s meeting, I will receive a projection of TTF each
of the proposals would generate. I will also be receiving an analysis of
�he internal working numbers supplied by the developers from Chase-
Brackett. The Chase-Brackett work was the second phase of the scope-of-
services approved several months ago by the commissioners.
I presently plan to have this follow-up information hand delivered to you
on Monday, June 21.
As I indicated to you at the June 15 meeting, I believe that we can attract
at least one, if not two additional proposals, if neither of these projects
meets the needs of the city.
I believe we will have enough information for the commissioners to decide
this issue by July 6.
RECOb�SENDED ACTION: None. Discussion item only.
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PORT AUTHORITY ACTION: