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04-17-00 agenda• CITY OF RICHFIELD, MINNESOTA HOUSING AND REDEVELOPMENT AUTHORITY MONDAY, APRIL 17, 2000 RICHFIELD CITY HALL 6700 PORTLAND AVENUE SPECIAL HRA CLOSED EXECUTIVE SESSION EXECUTIVE CONFERENCE -ROOM 6:30 P.M. AGENDA CALL TO ORDER 1. DISCUSSION REGARDING CURRENT LITIGATION ADJOURNMENT REGULAR HRA MEETING COUNCIL CHAMBERS • 7 P.M. AGENDA CALL TO ORDER APPROVAL OF MINUTES OF REGULAR HRA MEETING OF MARCH 20, 2000 1. OPPORTUNITY FOR CITIZENS TO ADDRESS-THE HRA ON ITEMS. NOT ON THE AGENDA 2. HRA APPROVAL OF AGENDA 3. CONSENT CALENDAR CONTAINS SEVERAL SEPARATE ITEMS WHICH ARE ACTED UPON BY THE HRA IN ONE MOTION. ONCE THE CONSENT CALENDAR HAS BEEN APPROVED, THE INDIVIDUAL ITEMS AND RECOMMENDED ACTIONS HAVE ALSO BEEN APPROVED. NO FURTHER HRA ACTION IS NECESSARY. HOWEVER, ANY HRA COMMISSIONERS MAY REQUEST THAT AN ITEM BE REMOVED FROM THE CONSENT CALENDAR AND PLACED ON THE REGULAR AGENDA FOR HRA DISCUSSION AND ACTION. ALL ITEMS LISTED ON THE CONSENT CALENDAR ARE RECOMMENDED FOR APPROVAL. A. CONSIDERATION OF APPROVAL OF RESOLUTION AUTHORIZING ISSUANCE OF CERTIFICATES OF COMPLETION TO ROCKPORT HOMES, INC. FOR7604, 7608 AND 7612 EMERSON AVENUE S.R. NO. 26 B. CONSIDERATION OF APPROVAL OF RESOLUTION AUTHORIZING TAX INCREMENT PLEDGE AGREEMENT WITH CITY OF RICHFIELD RELATING- TO $1,630,000 GENERAL OBLIGATION TAX EXEMPT TAX INCREMENT BONDS, SERIES 2000A S.R. NO. 27 C. CONSIDERATION OF APPROVAL OF CHANGES TO RICHFIELD REDISCOVERED PROCEDURAL GUIDELINES- S.R. NO. 28 ADMINISTRATIVE REPORTS AND OTHER BUSINESS 4. CONSIDERATION OF LYNDALE GARDEN CENTER REDEVELOPMENT CONCEPT AND AGREEMENT WITH LAKES OF LYNDALE, LLC, FOR EXCLUSIVE COOPERATION WITH HRA IN EXPLORING FEASIBILITY OF REDEVELOPING NORTHWEST QUADRANT OF LYNDALE AVENUE AND 65TH STREET STAFF REPORT NO. 29 5. CONSIDERATION OF MASTER BUDGET FOR CEDAR AVENUE AIRPORT REDEVELOPMENT AREA AS GUIDE FOR FUND RAISING AND FISCAL . CONTROL OF PROJECT ACTIVITIES STAFF REPORT NO. 30 6. CONSIDERATION OF SETTLEMENT TERMS WITH MARKET PLAZA LIMITED, INC. STAFF REPORT NO. 31 7. EXECUTIVE DIRECTOR REPORT 8. CLAIMS AND PAYROLL ADJOURNMENT Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at least 96 hours in advance to the Administrative Services Director at 612-861-9702. • AGENDA SECTION: AGENDA ITEM # REPORT # STAFF REPORT HOUSING AND REDEVELOPMENT AUTHORITY MEETING APRIL 17, 2000 ADMIN. REPORTS 6 31 REPORT PREPARED BY: REPORT PRESENTER: DEPARTMENT DIRECTOR REVIEW: SAMANTHA ORDUNO, CITY MANAGER NAME, TITLE SAMANTHA ORDUNO, CITY MANAGER NAME, TITLE REVIEWED BY EXECUTIVE DIRECTOR: ITEM FOR HRA CONSIDERATION: • (THIS ITEM WAS THE TOPIC OF THE HRA'S CLOSED SESSION PRIOR TO THE REGULAR MEETING AND IS PLACED ON THE AGENDA IN THE EVENT THE HRA DESIRES TO CONSIDER TERMS OF A SETTLEMENT. Consideration of terms of settlement with Market Plaza Limited, Inc. I. RECOMMENDED ACTION: By Motion: Approve settlement terms with Market Plaza Limited, Inc. III. BACKGROUND ~ In 1984, the Richfield HRA entered into a development agreement for the Market Plaza development. As part of the development agreement, the HRA conveyed the underlying property to the developer in exchange for an agreement to pay the HRA $188,000. A note evidencing the debt and a mortgage on the project securing the debt was prepared by the HRA's law firm of LeFevere, Lefler, but due, in part, to uncertainty as to the identity of the ultimate owner(s) of the project, the mortgage was not recorded by LeFevere, Lefler. The $188,000 non-interest-bearing note was to be payable from net profit from the residual portion of the development and was to mature. in 1994. 0417market Last year, the HRA commenced litigation against the developer for non-payment. As part of the litigation process, the parties consented to negotiations and a settlement-agreement was reached that, if approved by the HRA, would settle all claims on this matter. Staff is presenting for HRA approval a settlement agreement with Market Plaza Partnership, LTD. for conclusion to litigation resulting from non-payment of a 1984 mortgage note in the amount of $1.88,000. III. BASIS OF RECOMMENDATION A. FINANCIAL ISSUES • The terms of the settlement with Market Plaza Limited Partnership, Inc. are as follows: 1. The developer will pay to the HRA the sum of $80,000 in cash to be paid immediately in exchange for a complete release. 2. The HRA's counsel, Kennedy and Graven will bear $64,800 of the _ shortfall in the form of a credit on legal work done for the HRA, approximately $1,800/month for the next 36 months. 3. HRA recoveries have not and will. not be reduced by payment of legal fees to Kennedy and Graven in connection with the litigation and the settlement of the claim against the developer. B. LEGAL • This settlement will allow the HRA to realize $144,000 of the $188,000 note and bring to conclusion this lengthy action. IV. ALTERNATIVE RECOMMENDATION(S~ • Reject the settlement and continue with litigation against the developer and all related action. V. ATTACHMENTS • None. VI. PRINCIPAL PARTIES EXPECTED AT MEETING • Representatives from the Kennedy and Graven law firm. • AGENDA SECTION: Admin . Report s T T ~ TT ~y ~ T AGENDA ITEM # 5 1Lj~1^~J' V 11\J L REPORT # 30 STAFF REPORT HOUSING AND REDEVELOPMENT AUTHORITY MEETING APRIL 17, 2000 PERRY THORVIG, REPORT PREPARED BY: COMMUNITY DEVELOPMENT SPECIALIST NAME, TITLE REPORT PRESENTER: BRUCE PALMBORG, COMMUNITY DEVELOPMENT DIRECTOR NAME, TITLE DEPARTMENT DIRECTOR REVIEW: ~~!~ ~~ REVIEWED BY EXECUTIVE DIRECTOR: ITEM FOR HRA CONSIDERATION: Consideration of the Master Budget for the Cedar Avenue Airport Redevelopment Area as a guide for fund raising and fiscal control of project activities. RECOMMENDED ACTION: By Motion: Approve the attached Master Budget for the Cedar Avenue Airport Redevelopment Area as a guide for fund raising and fiscal control of project activities. III. BACKGROUND ~ In order to adequately prepare for the redevelopment of the Cedar Avenue Redevelopment Area, a budget has been prepared by Ehlers, Inc. with input from staff, Kennedy and Graven and other project consultants. The budget will be used to prepare funding requests and to control costs when funds are spent on project activities. Budget Summary The budget identifies ~~~",ter 79 669.6Q of fund sources including funds from """~ fees, land sale income and anticipated TIF proceeds. 0417Cedarbudget The budget also identifies $233,487,813 of project costs. These costs include projected "hard costs" of land acquisition, relocation and demolition, environmental remediation, and public improvements. Soft costs for developing a plan for the area, doing environmental- hazard assessments, and the staff costs to purchase property are also in the budget. The. soft costs are approximately 10% of the total project costs: ,~~ ~; ~~ The budget recognizes that the anticipated project costs are ~ ~ ° ~' `~ µ $153,818,253 more than budgeted revenue. However, in the context of a project that will proceed in phases and be in process for several years, the gap is not a barrier to initiating activities as soon as the initial revenues become available. This gap will of course have to be closed if the redevelopment is to be completed. It should also be noted that this budget does not include sound proofing costs or the subsidy necessary to make for-sale or rental housing affordable. III. BASIS OF RECOMMENDATION A. POLICY • The budget establishes the framework within which redevelop would proceed. B. CRITICAL ISSUES • This document forecasts. the amount of funds needed to complete the redevelopment process based on the best available information. Actual experience and the passage of time will be factors that will result in future modifications. C. FINANCIAL • A budget is needed to plan for funding for the redevelopment program. • A budget is also needed to control project costs once initiated. • The budget will be used to identify appropriate levels of public support for development. D. LEGAL • N/A IV. ALTERNATIVE RECOMMENDATION~S~ • Do not accept the budget as a guide. • Direct changes to the budget. V. ATTACFIMENTS • Cedar Avenue Redevelopment Area Budget (Attachment A) VI. PRINCIPAL PARTIES EXPECTED AT MEETING • Jim Prosser, Ehlers, Inc. • Sid Inman, Ehlers, Inc. • Kent Carlson, Ryan Companies • ~- STAFF REPORT AGENDA SECTION: Admin. Reports AGENDA ITEM # S REPORT # 3O HOUSING AND REDEVELOPMENT AUTHORITY MEETING APRIL 17, 2000 ~' REPORT PREPARED BY: REPORT PRESENTER: DEPARTMENT DIRECTOR REVIEW: "' REVIEWED BY EXECUTIVE DIRECTOR: /~ PERRY THORVIG, COMMUNITY DEVELOPMENT SPECIALIST Nance, TITLE BRUCE PALMBORG, COMMUNITY DEVELOPMENT DIRECTOR ITEM FOR HRA CONSIDERATION: Consideration of the Master Budget for the Cedar Avenue Airport Redevelopment Area as a guide for fund raising and fiscal control of project activities. I. RECOMMENDED ACTION: By Motion: Approve the attached Master Budget for the Cedar Avenue Airport Redevelopment Area as a guide for fund raising and fiscal control of project activities. III. BACKGROUND ~ In order to adequately prepare for the redevelopment of the Cedar Avenue Redevelopment Area, a budget has been prepared by Ehlers, Inc. with input from staff, Kennedy and Graven and other project consultants. The budget will be used to prepare funding requests and to control costs when funds are spent on project activities. Budget Summary The budget identifies $224,669,560 of fund sources including funds from MAC, FAA, land sale income and anticipated TIF proceeds. 0417Cedarbudget Nanrc, TizLc The budget also identifies $233,487,813 of project costs. These costs include projected "hard costs" of land acquisition, relocation and demolition, environmental remediation, and public improvements. Soft costs for developing a plan for the area, doing environmental hazard assessments, and the staff costs to purchase property are also in the budget. The soft costs are approximately 10% of the total project costs. The budget recognizes that the anticipated project costs are $8,818,253 more than budgeted revenue. However, in the context of a project that will proceed in phases and be in process for several years, the gap is not a barrier to initiating activities as soon as the initial revenues become available. This gap will of course have to be closed if the redevelopment is to be completed. It should also be noted that this budget does not include sound proofing costs or the subsidy necessary to make for- sale or rental housing affordable. III. BASIS OF RECOMMENDATION A. POLICY The budget establishes the framework within which redevelop would proceed. B. CRITICAL ISSUES This document forecasts the amount of funds needed to complete the redevelopment process based. on the best available information. Actual experience and the passage of time will be factors that will result in future modifications. C. FINANCIAL A budget is needed to plan for funding for the redevelopment program. A budget is also needed to control project costs once initiated. The budget will be used to identify appropriate levels of public support for development. D. LEGAL N/A IV. ALTERNATIVE RECOMMENDATION(S~ Do not accept the budget as a guide. Direct changes to the budget. V. ATTACHMENTS • Cedar Avenue Redevelopment Area Budget (Attachment A) VI. PRINCIPAL PARTIES EXPECTED AT MEETING • Jim Prosser, Ehlers, Inc. Sid Inman, Ehlers, Inc. • Kent Carlson, Ryan Companies • C~ ~, d~ f.+ C~ V ~, W ~ ~ ~ ~ ~U ces W U 0 0 0 0 0 0 0 0 0 O O O O O O ~--~ ~ O O o0 d0 O 1 ~ M O ~ ~ ~ ~ .--+ N ~~~~ ~ M O l ~ t~ 0 O M 00 ~ .--~ O oo N oo v'i in v~ ~D t~ ~ .--~ ~ i~ N ~O O~ M O ~ 00 ~t ~n .--+ Q\ .--~ ~ oo et ~ d' N M ~ N M N a> ~ ~ o o h 0 0 ~ ~ o O .~ v U ~.. °~' ~° y o ~, ~ ~ ~ ~~ ~ a. o o ~ ~ °~3 ~~.° w ~ ~ .~ "C b~q N V N ~ ~ .Q ~ > ~ o ~ ~ A ~ ~ > ~ ^d ".s ^J N S1i h ~ ~ ~ r ~' ~ ~ N ~ t]. 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Master Budget Cedar Avenue Start Up Budget to o 1999 2000 2001 Start Up Year 1 Year 2 Infrastructure Plan -Note: There are no start up costs associated with this budget category. Secure contingent contracts for appraisers, relocators, closers, rental management and security -Note: budget contained in Site Assembly budget Site Assembly Acquisition -Closer -Residential Appraiser -Business Appraiser -Review Appraiser -Fixture Appraiser -Administrative Aide (half time) -Accountant (half time) Relocation -Relocation Agents Site Clearance -Staff Costs -Contingency ~UBTOTAL Master Plan Development (revised 12/22/99) -Note: budget is for 24 months -Traffic Study -Land Use Plan -Stormwater Management -Streetscape Concepts -Conceptual/Architectural Graphics -Park Design -Community Planning -Infrastructure Analysis -Coordination/Project Management -Client Staff Meetings -Survey -Public Relations -Ryan Development Coordination -Ryan Construction Coordination -Ryan Design -Legal -Contingency SUBTOTAL $ - $ 25,000 $ 25,000 $ 1,500 $ 105,000 $ 105,000 $ 1,500 $ 35,000 $ 35,000 $ 1,500 $ 70,000 $ 70,000 $ 1,500 $ 26,250 $ 26,250 $ - $ 18,000 $ 18,000 $ - $ 25,000 $ 25,000 $ - $ - $ - $ 2,000 $ 350,000 $ 350,000 $ - $ - $ - $ 2,000 $ 102,000 $ 102,000 $ 1,000 $ 75,625 $ 75,625 $ 11,000 $ 831,875 $ 831,875 $ 60,500 $ 72,600 $ 18,150 $ 30,250 $ 55,000 $ 38,720 $ 36,300 $ 38,500 $ 24,200 $ 24,200 $ 82,500 $ 55,000 $ 1,500,000 $ 156,000 $ 93,600 $ 40,000 $ 232,552 $ 2,558,072 Secure contingent contract or project employees for plan review -Note: budget for this category contained in Site Assembly and Legal 04/12/00 Prepared by Ehlers and Associates CedarAve_Masterbdgt.xls Master Budget 1999 2000 2001 Category Start Up Year 1 Year 2 redevelopment Site Evaluation -TIF Qualifications Inspections $ 350,000 $ - $ - -Contingency $ 35,000 SUBTOTAL $ 385,000 AUAR (added 10/12/99) -Note: budget for 24 months; -AUAR $ 647,875 -Contingency $ 64,788 SUBTOTAL $ 712,663 Environmental Site Assessment -Note: 10/12/99 additions for 24 months; overlap with "Environ mental Project Overview"??? -Phase One: Commercial/Mulit-Family $ 20,350 $ 81,400 $ 51,570 -Phase One: Residential Blocks $ 25,280 $ 101,120 $ 61,875 -Phase Two: Commercial/Mulit-Family $ - $ 95,240 $ 58,810 -Phase Two: Residential Blocks $ - $ 182,920 $ 120,730 -Building Demo Survery: Commercial $ 30,800 $ 123,200 $ 105,800 -Building Demo Survey: Residential $ 35,000 $ 140,000 $ 119,540 -Environmental Project Overview $ 35,250 $ 141,000 $ 120,090 Added 10/12/99: -Environmental Review Coordination $ 156,000 $ - $ - Soil Exploration $ 50,000 $ - $ - -Prelim Environmental Coordination $ 90,000 $ - $ - -Contingency $ 44,268 $ 86,488 $ 63,842 SUBTOTAL $ 486,948 $ 951,368 $ 702,257 Marketing (added 10/12/99) -Brochures -Market Research Study -Broker Mailing -Prospect Mailing -Broker Open House -User Open House -Advertising -Signage -Ground Breaking -Contingency SUBTOTAL • $ 16,500 $ 30,800 $ 4,400 $ 13,200 $ i 3,200 $ 26,400 $ 19,800 $ 24,200 $ 24,200 $ 17,270 $ 189,970 04/12/00 Prepared by Ehlers and Associates CedarAve_Masterbdgt:xls Master Budget 1999 2000 2001 Category Start Up Year 1 Year 2 Financial Analysis/Budget Control (Revised 10/12/99) $ 61,045 $ 48,091 $ 39,341 Contingency $ 6,105 $ 4,809 $ 3,934 SUBTOTAL $ 67,150 $ 52,900 $ 43,275 Intergovernmental Relations -Lobbying Contracts with City $ 45,000 $ 100,000 $ 50,000 -Contingency $ 4,500 $ 10,000 $ 5,000 SUBTOTAL $ 49,500 $ 110,000 $ 55,000 Omsbudperson -Community Participation Design $ 12,510 $ 3,000 $ - -Answer Questions, Problem Solving $ 4,780 $ 18,000 $ 18,000 -Investigation of Complaints $ 1,500 $ 3,600 $ 3,600 -Facilitate Purchase of Property $ 5,000 $ 10,000 $ 10,000 -Contingency $ 2,379 $ 3,460 $ 3,160 SUBTOTAL $ 26,169 $ 38,060 $ 34,760 Resident Communication Contact (Revised 11/01/99) -Staff Cost $ 20,000 $ 38,000 $ 41,800 -Contingency $ 2,000 $ 3,800 $ 4,180 SUBTOTAL $ 22,000 $ 41,800 $ 45,980 Communication (Revised 11/1/99) -Communication Strategy/Planning -Product Development -Public Participation Management -News Media Contact/Spokesperson -Media Consultant -Vision Piece -Cedar Avenue Area Newsletter -Annual All City Newsletter -Three Videos -Feature Sheets -Answer Van (staff time) -Web Page Update (staff time) -Cable TV piece (staff time) -Graphics Misc. Assistance - Q&As/Leg Updates/Boards & Materials -Contingency SUBTOTAL $ 7,000 $ 35,000 $ 35,000 $ 17,000 $ 35,000 $ 35,000 $ - $ 15,000 $ 15,000. $ - $ - $ - $ - $ 6,000 $ 6,000 $ - $ - $ 8,000 $ 14,800 $ 30,000 $ 30,000 $ - $ 6,000 $ 6,000 $ - $ 60,000 $ - $ - $ 3,000 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 6,000 $ 6,000 $ - $ 8,000 $ 8,000 $ 3,880 $ 20,400 $ 14,900 $ 42,680 $ 224,400 $ 163,900 n 04/12/00 Prepared by Ehlers and Associates CedarAve_Masterbdgt.xls Master Budget Category Project Coordination -Coordinator Fee -Contingency SUBTOTAL Lobbying (added 10/12/99) -Note: budget is for 24 months -Pat Forceia -Misc. Lobbying Effort -Travel -Contingency SUBTOTAL Legal (revised 12/22/99) -Development Contract Negotiations -Land Acquisition/Condemnation -Zoning Approvals -Environmental Review -General Support -Contingency (10%) SUBTOTAL TOTAL • • 1999 2000 2001 Start Up Year 1 Year 2 $ 20,000 $ 100,000 $ 100,000 $ 2,000 $ 10,000 $ 10,000 $ 22,000 $ 110,000 $ 110,000 $ 102,000 $ 100,000 $ 60,000 $ 26,200 $ 288,200 $ 50,000 $ 100,000 $ - $ - $ 550,000 $ 500,000 $ - $ 50,000 $ - $ - $ 150,000 $ - $ 50,000 $ 50,000 $ 50,000 $ 10,000 $ 90,000 $ 55,000 $ 110,000 $ 990,000 $ 605,000 $ 5,139,551 $ 2,270,403 $ 1,932,047 04/12/00 Prepared by Ehlers and Associates CedarAve_Masterbdgt.xls X i N (~ N Q (~ a N U O O O O ' O ' ' O CV O ~ L O T ~ ~ ~ ~ ~} ~} ~} O O O O O +~ O O O O O r O O O O O ~ s. ~ O O ~.[~ ~ L.C) T T ``rtrt ~7 cc^^~ ~T ''^^ D7 O O O ~ O }/ L T ~-+ D7 D7 QT O7 v J -- v M ~~• +~ ~K~ O (V ~ ~ ~ ~ // ~~~~ ~ }-. ~ W ~ ~ ~ W W O ~ ~ ~ L ~ U o ~ o o ~ ~ a~ _ ~ ~ ~~- ~ ~ ~ U ~ ~ Q U O Q ~ ~ if a ~ ~ > > ~ m ~ ~ ~ ~-~N W C3 ~ ~ ~ U U J N t~ ~U O y Q v c c~ L W L ^^~ 1..1.. 0 0 N O AGENDA SECTION: Admin. Reports AGENDA ITEM # 4 REPORT # 29 STAFF REPORT HOUSING AND REDEVELOPMENT AUTHORITY MEETING APRIL 17, 2000 REPORT PREPARED BY: REPORT PRESENTER: DEPARTMENT DIRECTOR REVIEW: REVIEWED BY EXECUTIVE DIRECTOR BRUCE NORDQUIST, HOUSING AND REDEVELOPMENT MANAGER Navrc, TITLL BRUCE PALMBORG, COMMUNITY DEVELOPMENT DIRECTOR ITEM FOR HRA CONSIDERATION: • Consideration of the Lyndale Garden Center redevelopment concept and an agreement with Lakes of Lyndale, LLC, for exclusive cooperation with the Housing and Redevelopment Authority in exploring the feasibility of redeveloping the northwest quadrant of Lyndale Avenue and 65th Street. I. RECOMMENDED ACTION: By Motion: Authorize the Chairpersor execute the attached Agreement with revised name by the principals that is payment of $25,000 by the developer. and Executive Director to Lakes of Lyndale, LLC (or with a being considered) following III. BACKGROUND ~ Lakes at Lyndale, LLC is a joint venture of the owners of Lyndale Garden Center, Tim Duoos, and Stuart Nolan of Stuart Companies. They are proposing a development concept for the northwest quadrant of Lyndale Avenue and 65th Street. The mixed-use concept proposes: • 212 rental housing units, 45,000 sq. ft. of retail (Lyndale Garden and Lyndale Hardware); 10,000 sq. ft. for a new liquor store; 0417LakesatLyndale NAME, TrTrs • 27,000 sq., ft. for specialty and service retailing; • • A sit down, full service restaurant; and • Greenway connections between the neighborhood and Richfield Lake that are made a part of storm water ponding improvements that have been proposed as part of the redesign of 135W and Crosstown. It was the need for storm water ponding at Richfield Lake that began the redevelopment planning analysis of the area in 1996 and the creation of the Lakes at Lyndale Master Plan by 1999. A chronology attached to this staff report identifies key decision points during the 23-month long planning process in this area and the active role the adjacent neighbors and community have played. Lakes at Lyndale, LLC is seeking an agreement for a period of one year in order to complete a thorough feasibility study which would include a market analysis, further site planning and design, soil testing, financial analysis, and a study of traffic and pedestrian circulation. The developer would also be in direct contact with owners and tenants. Assistance from the Richfield Ombuds would be available if necessary in responding to questions and concerns. III. BASIS OF RECOMMENDATION A. POLICY • The redevelopment proposal is consistent with the Lakes at Lyndale Master Plan to add new housing and retailing options integrated with recreation in the downtown area. Storm water ponding is a design amenity and the natural aspects of the park setting are retained. • A redevelopment project feasibility study for the easterly portion of Richfield Lake at this time matches the need by 2003 to accommodate storm water ponding from freeway improvements. • The concept helps retain three large retailers; Lyndale Garden, Lyndale Hardware, and Lyndale Liquor and provides additional retailing options for businesses affected by the redevelopment. • The concept more than doubles the number of housing units, providing new choices within an economic range. B. CRITICAL ISSUES • The plan having arrived to staff the first week of April is new. Lyndale Garden, Lyndale Liquor, and 11 small businesses are within the project area, as well as 80 apartments. The developer has not begun to work with owners and tenants, although affected owners, tenants and adjacent neighborhoods have known of the redevelopment potential because of the 23-month Lakes at Lyndale planning process. • The construction limits for MnDOT required ponding would affect the retailing future of Lyndale Garden regardless of a plan at this time. • A relocation option for Lyndale Hardware is suggested since Lyndale Hardware will be impacted by Gramercy's City Bella proposal. • Lyndale Garden, as landowner of approximately three-fourths of the project area prefers a proactive partnering redevelopment strategy over a condemnation strategy. • Stuart Companies is a highly respected developer and manager of housing with a portfolio of approximately 5,500 apartment/townhome units. • Tushie-Montgomery is an experienced Richfield area architectural firm in the design of retailing, housing and liquor stores. C. FINANCIAL • The cost of the feasibility analysis is a developer responsibility: • Ehlers, the HRA's financial consultant, has not yet looked at the scope of the project or begun to study the financial aspects. D. LEGAL The agreement is similar to other such agreements used in the past by the Housing and Redevelopment Authority (HRA). Key features of the agreement include: • The term of the agreement is for a period of one year. • During the one-year term of the agreement, the HRA will not provide financial assistance or authorize condemnation to be used by any third • The agreement does not obligate the HRA to take further redevelopment party actions such as providing tax increment assistance, assisting in the acquisition or condemnation of property, or seeking zoning approval. Such actions are separate from this agreement. • An initial deposit of $25,000 must be made by the developer to cover consultant costs used by the HRA during the feasibility study period. • The agreement may be terminated by either party with 30 days written notice. Lakes of Lyndale, LLC is a temporary title while the partners determine an alternative. IV. ALTERNATIVE RECOMMENDATION(S~ • Take no action, rejecting the proposed redevelopment concept and requesting staff to pursue other redevelopment options. • Delay actions, however, the proposed project at City Bella and the approved MnDOT project move forward regardless. V. ATTACHMENTS • Exclusive Rights Agreement with proposed project area map (Attachment A) • Lakes at Lyndale Master Plan (Attachment B) • • Site Plan Concept (Attachment C) • Elevations of Plan Concept (Attachment D) • Street scene, looking south on Lyndale at 64th Street • Aerial artists rendering looking north from. Village shores • Examples of computer generated housing/pedestrian greenway • Chronology; 1996 to 2000 (Attachment E) • List of present owners/tenants in the project area (Attachment F) • Letter from Developer describing concept (Attachment G) • Resume of Stuart Nolan/Stuart Companies (Attachment H) VI. PRINCIPAL PARTIES EXPECTED AT MEETING • Stuart Nolan, Stuart Companies • Tim Duoos, Lyndale Garden Center • John Sieff, Lyndale Hardware • Jeff Wrede, Tushie Montgomery Architects. • Attachment A THIS AGREEMENT is made and entered into this . _ .day of _~, 2000, by and between the Housing and Redevelopment Authority in and for the City of Richfield, Minnesota a Minnesota public body corporate and politic ("HRA") and a Minnesota corporation.("Redeveloper"). AGREEMENT RECITALS First: The Redeveloper is interested in pursuing the redevelopment of that certain area identified on Appendix A (hereinafter the "Redevelopment Area"); Second: The- Redeveloper is proposing redevelopment within the Redevelopment Area which. may include office, restaurant, retail, and residential uses (hereinafter the "Redevelopment"); Third: The HRA wishes to cooperate with Redeveloper's efforts with Redevelopment and are willing to proceed as described in this Agreement; Fourth: The parties acknowledge that Redeveloper will expend. substantial time-and effort, and incur substantial expense in pursuing the Redevelopment; Fifth: Redeveloper is willing to undertake the above described activities with the reasonable assurance from the HRA that they will support and cooperate with Redeveloper in its Redevelopment efforts; Sixth: The HRA and Redeveloper have executed this Agreement to document their understanding with respect to the proposed Redevelopment. AGREEMENTS NOW THEREFORE, in .consideration of the premises and mutual obligation of the parties contained herein, each of them does hereby represent, covenant and agree with the other as follows: 1. Statement of Intent. It is the intention of the parties that Redeveloper will proceed with the development activities necessary to permit Redevelopment in a manner, -and on terms and conditions,. which are mutually acceptable to Redeveloper and the HRA. The parties acknowledge that in order for Redevelopment to be constructed, Redeveloper may at some point need financial and/or site assembly assistance from the HRA. This Agreement does not, however, .constitute either approval of such financial or site assembly assistance, nor does it obligate the HRA to provide such assistance. 2. Undertaking by Redeveloper. Redeveloper intends to undertake and pursue certain activities with respect to the Redevelopment generally as outlined herein and within the term of this agreement. Redeveloper activities will include the following: site planning feasibility, the development of plans for the Redevelopment, application for necessary government approvals, marketing and financial analysis, soil and engineering .analysis, and such other activities as would be customary and necessary to permit the Redevelopment. 3. HRA's Undertaking and Agreement. The HRA agrees to cooperate with Redeveloper in Redeveloper's undertakings, and specifically agrees that during the term of this Agreement the HRA will not (i) provide or enter into an agreement for provision of financial assistance to any third party in connection with any proposed development.within the Redevelopment Area, or (ii) except as may be necessary in connection with the provision of public improvements, condemn or agree to proceed with the condemnation of any property within the Redevelopment Area to assist or facilitate development within such area by any third party. 4. Term. The term of this Agreement shall be for a period of one (1) year, provided that, either party may terminate this Agreement as to all or any portion of the Redevelopment Area upon thirty (30) days written notice to the other, in the event that: (a) the HRA determines, in good faith, that Redeveloper is not diligently pursuing the Redevelopment, or (b) Redeveloper determines, in good faith, that the Redevelopment is not feasible. The HRA may also terminate the Agreement for failure of Redeveloper to meet its obligations under paragraphs 5D or 5E. Redeveloper will provide the HRA with written reports at least quarterly regarding the ..status of its activities hereunder. Any such notice shall be deemed delivered if either actually delivered, or if faxed: and mailed to the parties at the following addresses:, Richfield Housing and Redevelopment Authority Attn: Executive Director 6700 Portland Avenue South Richfield, MN 55423 Phone: (612) 861-9760 Fax: (612) 861-8974 5. Miscellaneous. A. This Agreement constitutes the entire agreement between the parties relative to the proposed Redevelopment.. Unless spec~cally described herein, no obligation shall be inferred or construed. B. As expansion of the foregoing, Redeveloper understands that further and separate action, for which no obligation is created hereunder, will be required before the HRA is obligated to take various actions with respect to the Redevelopment. Those actions may include, without limitation: a. establishment of or modification of the Project Area and Tax Increment District;. b. agreements to provide tax increment or other financial assistance to the Redevelopment; c. request for zoning and. subdivision approvals; d. acquisition of land within the Redevelopment Area by either voluntary purchase or condemnation (or both); and e. construction of public improvements to serve the Redevelopment C. Redeveloper further understands that many of the actions which the HRA maybe called upon to take require the reasonable discretion and in some instances the legislative judgement of the HRA or City Council, such actions may be made only following established procedures; and the HRA may not, by agreement, agree in advance to any specific decision in such matters. D. Redeveloper hereby indemnifies, holds harmless and agrees to defend, the HRA, their officers, agents and employees from any claim or cause of action of whatever nature. occasioned by or arising .out of this Agreement or the HRA's performance thereunder. E. Redeveloper agrees that it will pay all reasonable costs and expenses incurred by the HRA relating to the preparation of this Agreement and all actions taken by the HRA in furtherance of their obligations hereunder. Such payment shall be made to the HRA in the following method: 1) an initial $25,000 deposit to be held by the HRA and drawn on to cover costs which can be subsequently supported with necessary detail, 2) additional increments of $10,000, when requested by the HRA to maintain a working balance in the account. • IN WITNESS WHEREOF, the parties have executed this Agreement effective the date and year first above written. RICHFIELD HOUSING AND REDEVELOPMENT AUTHORITY By: Its: BY: Its: By: Its: • ,, • APPENDIX A PROPOSED LYNDALE GARDEN REDEVELOPMENT '' ~ PROJECT AREA z ~a o~ m ~a ~~ 6330- 40 ~ ~'' ; ~'' , ~~~' ''~ ~ ~~ 64TH ST. ~ '~~ ^ ~ ~ ,'~ 641.2 ~~' ~ i ~~~~~'O • 9 ~ ,~~ RICHFIELD j ~~' ~ ~ LAKE ~ 840 6a a2 '~~ ~ ~~ a ~i ~ 6aa ~~~~ ~~ ~~ 20 ~~~~ ~~ , ~~~ t ~~ s'~ i ~~~ 65~~ ~ ~~~ NORTH APRIL 2000. • • e lslon or a es a a e l_ake~ cc -die Cgnr~ t Dear Community Members, During a 23-month study in 1997 and 1998, hundreds of Richfield residents and business people worked together on a new vision for the Richfield Lake area, now known as "Lakes at Lyndale. "This area is located from 62nd Street to 67th Street, and Pleasant Avenue to I-35W. Community members attended workshops, reviewed concepts and talked about the features that were important to them in the Lakes at Lyndale area. The resulting master plan for Lakes at Lyndale is an exciting one not just for the neighborhood, but for the entire community. It creates new housing and greater housing choices; new retail, restaurants, office space and entertainment; and a new postal facility at a better location. It makes: Lakes at Lyndale the urban heart of our community where people will come to live, to work, to shop and to enjoy the lakes. We believe this is an exciting plan and think you will too. Share the Lakes at Lyndale visio~a! Mayor Mar ' J. Kirscla The Lakes at Lyndale Mission To make the Lakes at Lyndale area Richfield's thriving urban center, providing more housing oppor- tunities, upgrading business properties and providing fuller enjoyment of both Wood Lake and Richfield Lake. Achieving this mission will help ensure Richfield remains the best place to live, work, learn and do business in the metropolitan area. Lakes at Lyndale Themes Nature -- The Lakes are a natural centerpiece to an urban downtown. =~ Housing -- More choices and new locations for living. ~/ People -- A place for walking with nature pathways and urban skyways. Transit -- Bringing efficient transit service closer to you. Identitg -- Distinctive look, visual appeal and connection (~r,tezocz.~as -- Attractive front doors to the conutlunity. ~ B~rs~z,,aF~.~s -- (>i~p~rtunities for investment arld creating value. cci : Regional Recreational Trail 5 2001-2005 999.2001 67TH STREET II I .... BLOCK DEVELOPMENT REGIONAL RECREATIONAL TRAIL RICHFIELD LAKE TREATMENT SYSTEM Sooner-1999 2001-2005 1999-2000 concurrent with ~, ~ MNDOT Highway improvements F MNDOT HIGHWAY IMPROVEMENTS 1999-2003 Later-after 2010 F«~a «~ n, F~~,>,,,~~~~ ~<~~~~~<<;~,~,p ~,~ ,~ ~~ `, `Highway I-35W and Crosstown 62 Improvements (MNDOT) NOTE: Dates are best estimates only for planning purposes and do not represent actual construction periods. r 5 [.akey aL L ~in~laP~-the PPa~ t Nature -- The Lakes are a natural centerpiece 2) Mn/DOT express bus pullouts at the 66th Street to an urban downtown. and I-35W bridge; and 3) circulator bus service in Richfield Lake and Wood Lake remain wild and the 65th and 66th Street corridors in Lakes at Lyndale. New circulator service is integrated with natural. Richfield Lake water quality is improved through stormwater ponding and a water treat- existing express and cross-town services. ment system for rainwater run-off from roads. Identity -Distinctive look, visual appeal Through landscaping and design, the character and connection of the lakes radiates along the streets, walkways and parks. The area has a connected visual identity. The lakes are its theme. Nature is carried from the lakes Housing -- More choices and new locations throughout the urban district through the ', for living. use of flowers, trees. plants, garden-like paths, Approximately 1,400 new housing units are envi- benches, cast stone columns, plantings and small sinned at Lakes at Lyndale including townhomes, gathering spots. condominiums, apartments, and senior cooperative Gateways -Attractive front doors to and assisted housing. In addition to expanding the the communit<: variety of housing in Richfield, Lakes at Lyndale Upon entering Lakes at Lyndale from Lyndale ', will offer a location that is near the lakes, shopping Avenue or 66th Street, the first impression is that '~ and entertainment. of a thriving community and an attractive and People -- A place for walking with nature distinctive neighborhood. That impression is pathways and urban skyways. created through near investment and reinvestment,:-` and through landscaping, lights, and other ~ Existing nature pathways are enhanced by apark- i, like connection established between the two lakes. amenities. A system of pedestrian ways and public spaces Business -Opportunities for investmei~~` ', includes skyways and street-level walkways to and creating ~•alue. provide safe crossings at Lyndale Avenue and West New shopping, office space, restaurants and 66th Street. Pedestrian ways extend along the entertainment abound at Lakes at Lyndale, e~eating major streets and into development sites. new investment for the commrunity Richfield'ssl~w Transit -- Bringing efficient transit service cinema is featured on the I~=rrEax•t site at 66th closer to you. Street and Lyndale Avemze. ~e~t`aurants, shops ' Transit enhancements include 1) a transit shelter and housing are next to ~K~ nat,ural charm of at West 66th Street, just east of Lyndale Avenue; „ = Wood Lake=and~{ickfreld~hakP. e . , ,~ - ~ ~- .a = ~~ . .~ =~ -K- , -,~. ~3 , - ~ ~ ~ l 7 j~ ~ ~ { ~ 1 +c' ~ f ~ ti ~ ~ ~ r ~ f ~ 1 ~-~' `-~ s 1 f f ~ ~~ j ~ ' ~ ~ ,~ 4 - ;V High..:. -35W and Crosstown 62 I~-_~~~;remeats (MNDOT) ~'~ 1999-2003 BLOCK D~.'ELOPMENT REGIONAL RECREATIONAL TRAIL Sooner-1999 2001.2005 MNDOT HIGHWAY IMPROVEMENTS 1999-2003 Later-after 2010 NOTE: Da'=~ are best estimates only for planning purposes and do not ~~ r-- %L~ After 2010 9~ ~9/F~~G F' 20t 2002-2005 ~aFnair,~~i Regional © Recreational Trail 2002.2005 ' 2001-2005 / I~1 I 1 Ali RICHFIELD LAKE TREATMENT SYSTEM 1999.2000 concurrent with MNDOT Highway improvements Prepared by Iloistngmu K filer croup Inc. represent actual construction periods. Lsrkey aL L~~c~la~-13 G Lakes at Lyndale Objectives 1) Housing 2) New retail, restaurants, office and entertainment 3) New, better located postal facility Target Areas The master plan has been divided into target areas for phased redevelopment (refer to map on page 5). Each area is being explored for its poten- tial to meet the Lakes at Lyndale objectives and a determination made whether existing land uses must stay or go. What follows is a brief summary of some of those areas where development is sched- uled to occur through 2005. 1~ C~ramercg Park Co-op -- The Gramercy Park Co-op at 67th Street and Lyndale Avenue is a 160-unit housing development with underground parking on the site of the Richfield VFW. The 12-story building cooperative for senior citizens is attached to an 8,000-square-foot VFW facility 1998.2001 ~ Urban Village -- Urban Village is a commercial- residential "mixed use" development bordered by Lyndale Avenue, 66th Street, Pleasant Avenue and 67th Street. Urban Village adds 90,000 square feet of retail and office space and 214 new housing units to the community. It relocates McDonalds to the corner of 67th Street and Lyndale Avenue. 1999-2001 0 The VFW/C~ramercy Block -- Retail and expanded office space would be located at 66th Street and Lyndale Avenue adjacent to the new co-op. 1999.2002 ®Lgndale Garden Center Area -- Multi-unit housing and retail are in the plan for this portion of Lakes at Lyndale. 2000-2003 Q5 Post Office Area -- Improved access in the area would be coupled with a post office that better serves the community. 2000.2005 ©K-mart Area -- The plan calls for a future cinema;.housing and office space. 2002-2005 THE LAKES AT LYNDALE VISION- creating new entertainment and leisure 1 opportunities in Richfield. A new cinema, - housing and office space in the Northwest ~~ corner of Lyndale Avenue and 66th Street is _ ~ ~ (_~ ; the proposed alternative to the K-mart site. ~ "~ ~ b ~n 4~ ~ ~: ,s ; N~" ~ l 4 ~ ~ ~g d Al`i ° DNS ~ c '~C~ T r ~ 1 ~~ r f { tiY 1 ~ ={ j l ~ ~ ~ ~r f., i.- f~-t _ '~: _ y ~~ t`.+~x ri ~ ~ '~4 t i r '~ ~'~r ~A {"~~_ ~~ / Y~.~~ ~i1 ~- __ -.. ~~ . _,~ ~: ~ ~ ~, J •:~ ~= -~ __a; 6 RICHFIELD LAKE ~~~ ~ N y ~r >~g ~, `'' ~/T~. r~ The Lakes at Lyndale A MIXED USE REDEVELOPMENT RICHFIELD, MINNESOTA 64TH STREET 1NES`T ~; ~ ktt k1 r~~f ,~~ ~;,,