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HomeMy WebLinkAbout6.d. CMC Property DevelopmentPHONE (612) 423.4411 FAX (612) 423-5203 TO: FROM: DATE: RE: The Chica railroad of CR42 Industria of the pr years eve Gtiiy of (Rosemount 2875 • 145th Street West, Rosemount, Minnesota Mailing Address: P.O. Box 510, Rosemount, Minnesota 55068-0510 Chairperson Dunn Commissioners: Anderson, S innwe-11, Edwards, and Wipj Stephan Jilk, Executive Director April 2, 1992 1 - MAYOR Edward B. McMenomy COUNCILMEMBERS Sheila Wasson James (Red) Steals Harry Willcox Dennis Wippermann ADMINISTRATOR Stephan Jilk Chicago, Milwaukee Corporation (CMC) Proposed Development jo Milwaukee Corporation owns 110 acres east of the :racks, south of 145th St.,West of Biscayne and north See attached map). This property is now zoned L Park. CMC has not shown any interest in development_ )perty into light industrial use over the last several 1 though the city has. Two years ago the HRA sent Dean Johnson to Chicago to meet with the comps y to propose a partnership with the company and the HRA where the HRA would put in streets and utilities into the site and use tax increment to pay for them if the company would agree to develo and market the property for light industrial and commercia uses. The company showed no interest. Now CMC is proposing a mixed residential and commercial use of the propety and is attempting to design a phased development on the site �ith hopes for spring of 93' construction. With or without industrial development the company is looking for some assistance from the city using tax increment dollars and this would involve the Port Authority. . I am placing this on the agenda for general discussion for two purposes•, I would like your input on the idea of residential development versus industrial development on the site. ver things �oming (UP Rosemountll Chicago, Milwaukee Corp. Page 2 The use of tax increment financing and assistance for the project if the project is residential development rather than industrial and commercial. The Plann'ng Commission will be provided with a presentation on April 14th to get their input on the concept and I would like your ideas on it before then. lj 131st St 2n so it Park 0 c3ath ��' 13 M w Sr ""16 + �';�:!J.O s r IKQ. UN T[ ;i> • 1 OtM it I� r& ve 41 16 rd • ! F M/OM• � .. a e t � 143rd ) ig "IMk ora = U •t 143 St 94CM L c Er<y.r..: c E Th i • • E�F!.a F 145th t a M ' e RE E . isc• d S •t t • gc la `�d • © 147 th St a t ti V~ eF, O � t t U K • O � u n i�' �,�a.'' L • 14 th it 147 th St to v 14C t4ith Q �• V • ", L � x u u st ® Q y 4' U. t' •r 1 8t St Lower CiAH 42 • • ; 1bflr S � r; 9 CMCw: PROPERTY if r St • ;;• 6t 154 t yw R ® '. St < Col C rn111 Tr i 1a ; ' ` r IC orre ? r i C Ci A :c r iA ti