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Home My WebLink About2.a. UMore Update - Dale GlowaEXECUTIVE SUMMARY City Council Work Session: May 8, 2017 AGENDA ITEM: UMore Update - Dale Glowa AGENDA SECTION: Discussion PREPARED BY: Kim Lindquist, Community Development Director AGENDA NO. 2.a. ATTACHMENTS: UMore Park Concept Master Plan Executive Summary 4-17 APPROVED BY: LJM RECOMMENDED ACTION: Presentation and Discussion SUMMARY The City has been working with the University of MN for many years to facilitate development on the UMore property. The City in partnership with the University conducted an AUAR, which was approved in 2013. Since that time, the University has been analyzing the site relating to potential hazards and contamination. The City has also approved several activities relating to the Dakota Aggregates mining and ancillary uses. Most recently, Phil Cattanach of Opus made a presentation to the Port Authority about their plans for marketing the 160 acres in the NE corner of UMore. Dale Glowa from UMore will be available at the May meeting to update the group on development-related activities associated with UMore. The University has compiled a draft concept master plan which forecast development in 5 year increments. The forecast is based upon a market study by Maxfield Research. The land uses proposed reflect the anticipated market demand and was developed by HKGI and there is a financial component associated with the development phasing; work done by Ehlers. The Master Plan is in draft form but the executive summary of the study and Build Out Plan are provided for the Council’s information. Staff has reviewed the information and made some preliminary comments. Additional review, regarding assumptions about utilities and cost may be necessary in the near future so all parties are in agreement. RECOMMENDATION Dale Glowa will be in attendance to present information and answer questions. Study Purpose To develop a plausible development scenario for the next 30 years of development at UMore Park that: • Articulates locations for specifi c land uses • Plans for logical, sequential infrastructure improvements that development can eff ectively pay for • Recognizes and anticipates remediation of contaminated sites that development can eff ectively pay for This study also provides prospective developers an understanding of what the future of the UMore property transformation that: • Determines what land areas to market for diff erent uses • Assures buyers of future adjacent land uses and likely phasing Finally, this study integrates previous land use and infrastructure planning , and development • Integrates the locations of arterial and collector roadways, trunk water and sewer infrastructure, stormwater treatment, and parks and open space networks • Anticipates the necessary timing for remediation for development • Validates previous market and public fi nancial assistance studies Study Background The study builds on previous work done for UMore, specifi cally: • 2008 Concept Master Planning • 2013 UMore AUAR • 2014 Market Study – conducted by Maxfi eld Research, inc. • 2016 Public Finance Analysis – Ehlers, inc. • 2017 Contamination Study (On-going) Study Methodology 1. Review & Distill Background and Existing Plan Documents 2. Update and Confi rm Site Analysis 3. Prepare Preliminary Phase 1 Development Investigations 4. Review Preliminary Phase 1 Development Investigations & Refi ne 5. Develop a Preferred Phase 1 Development Plan with Phasing Plan Study Findings This study identifi es the land uses and necessary large scale/ trunk infrastructure that will facilitate orderly development of UMore Park. The Importance of Phasing Through the scenario exploration for the Phase 1 Development Plan, certain “triggers” exist that shape the initial phases of development. In order to progress with development to the south from CR 42 (where municipal services currently exist) a number of factors play a role in what areas of UMore Park become “open” for development. Most signifi cantly these triggers include: • Timing of contamination remediation • Timing of lift stations and water towers • Timing of arterial and collector roadway improvements • Completion of regional stormwater treatment features • Development of park and open space amenities • Expiration of easements for gravel mining and the wind turbine The Importance of Retaining Funds to Support Development In coordination with the fi ndings related to phasing, it will be imperative for the University to understand that at times, it will need to use reserve fi nances gained from earlier phases to fund infrastructure and remediation that will “lead” to subsequent future phases of development. Specifi c Drivers that May Add Value In general, the report outlines a more conservative estimate for potential land sale proceeds and overall revenue projections (see Ehlers fi ndings on page 3 and Appendix A). Specifi cally, there may be opportunities throughout the development process to create more value for the University with regards to: • The role the University plays as a developer • Selling to residential homebuilders vs. larger land developers • The role the City of Rosemount and Dakota County in building the arterial and collector roadway network • Densities & Acreage allocation of Jobs Based Land Uses Executive Summary - UMore Concept Master Plan Total Acres Units or SF Residential 705 ac. 4,055 Units Commercial 60 ac. 1,045,440 SF Industrial/Jobs 420 ac. 4,737,150 SF Parkland & Stormwater 340 ac. ROW 210 ac. Total Acreage 1735 ac. Dakota County Technical College Hold & Opus areas are not included in calculations. Infrastructure will be needed (by other projects) for concept shown OpusHolding Zone ** ** ****Lift Station Lift Station Lift Station Water Tower Bo u l d e r T r .Biscayne Ave.CR 46 Blaine Ave.Audrey Ave.Clayton Ave.Executive Summary - Build Out Plan Residential Single Family - 3du/ac Single Family - 5du/ac Townhomes - 10du/ac Multifamily - 20du/ac Commercial/Retail Retail Jobs & Industry Industrial Business Park Offi ce Open Space and Stormwater Parkland Stormwater Infrastructure Arterial Roads Collector Roads Water Sanitary SewerRosemount ParklandAkron Ave.Mining Area