Community Development Block Grant Committee - Abolished 5.11.2017 - Regular Meeting

Good afternoon, and welcome to the April meeting of the Redevelopment Authority of the City of La Crosse. Welcome to those joining in person and those joining online. We will get right into our agenda with an approval of our minutes from our March meeting and look for a motion to approve in a second. Motion by Gus, second by Julie for approval. Any questions or comments on the minutes as presented? Seeing none, all in favor of the motion, aye or thumbs up? Aye. All opposed, same sign. Motion carries. Alright. Tonight's, first agenda item in twenty six dash zero four three seven, the monthly project manager update District for April. Welcome Jason Gillman to the podium.

Thank you, mister chairman, and, good evening, members of the redevelopment authority. I have a just a short video I'd like to show you just highlighting some of the progress on the site, and then I'll I'll make a a a very brief report from my my, monthly report. These are images I take every Monday just to for posterity, but also some of these are images we'll use in the ULI presentation in Nashville on May 6. Internet's a little slow. Oh, and I wanna acknowledge bVision's media too for some of the aerial imagery they took.

Incidentally, MSP, Milo Pinkerton, this week told me all but five units are leased in that building, and Lee indicated that 50% of the lofts is complete is rented. I see Paul Nelson is online. He's the landscape architect that's working on the Parkway plans. So Those are just a few

sure. Yeah.

Okay. Maybe I'll close that, so I don't know why I'm getting a little echo. In addition to the progress that is the War Eagle and the Lofts are currently being occupied now, so they're open. I mentioned two reports I got from developers that Lee Haramza, who's online, indicated that 50% of the lofts is already committed, and Milo Pinkerton was very happy. All but five units and a 100 unit building are full.

And and Jake Buswell, I think the last time I talked to him, they were doing very well too in terms of lease up. So, very strong showing in terms of, interest in the project. This year, I'm, you know, working most of my work is is coordination with the developers that are wanting to start in 2026. That would include, Lee and Bill Albright, who you're gonna be talking to today, on Lots 11 And 12. Unwind property management on Lots 1 And 2 for the 42 townhouses, which will be done in phases.

So not all of those 42 will be built in one year, but they'll start this year. I think occupancy on those was estimated between July and October of next year. So it's, you know, about a twelve month proposition to get those ready for occupancy. Three sixty Real Estate, who is also on the agenda tonight, they're they're starting their commercial building this year. And then Jeremy Novak explained to me that they would move right on to phase two and phase three because of the efficiency of that, you know, as they're working through construction on Lot Lot 13 and out of Lot 5.

And then MSP on Lot 6, it's conceivable that they could start in the fall. They're in the middle of their architectural and engineering work. That was the big project that they showed you last month with the multifaceted senior living. And the last one is, Red Earth's condominium development on Lots 3 And 4, and you'll be, looking at an option extension for them next month in May. I was gonna have it on this agenda, and Andrea really wanted to be here for that.

So she'll she'll be here next month, and Jake Buzzwell was fine having it on next month's agenda. But they he did confirm that they wanna start those condominiums as part of their first the next phase of work after Hora Gill's done. A few other odds and ends that I've been working on, I've been meeting with, the the renter economic stability program is coming together nicely. This is the grant we got from the community foundation. I've been working with, you know, meeting with financial management companies.

I've met with Northwestern Mutual, Edward Jones, and and TrustPoint, a number of others. And then I've, also been meeting with major employers because, as I've been wading into this, and dealing with, the chamber of commerce, you know, they they've indicated a strong interest in using this as also as a a form of workforce housing incentive for talent, retention and and recruitment. So I met with Mayo's team, and then I met with, Trane Technologies team just a week ago, their whole leadership group. And there's strong interest, I think, from both entities. Next on my list is the university, QuikTrip, Gunners, and and a few others.

So I'm and, but the the skeletal framework of that program is done. I I need to have somebody with a real sharp eye in accounting and tax law to take a look at it and make sure that it's solid that way. And then also development expertise, wanna make sure somebody with development expertise looks at it. But I I am planning on having that wrapped up this year and hopefully launched by the end of the year. And just a side note on that, it's not exclusive to River Point District.

This is a program that could actually affect many apartment buildings and rental buildings across the city and region for that matter. I'm also still working with, Bailey at Visions on this video that I mentioned last month. He he has an interview scheduled with Lauren, who's the student at UW La Crosse that's doing the health metrics. I'm expecting that we'll have something by the end of this month to show you. So, hopefully, at the May meeting, you'll get to see that work.

This meeting is being recorded. And

then we had a a just a a technical document that Carly made me aware of that had to get sent into the department of revenue on one of the purchases for 67 crafts, so we've got that taken care of. Oh, I put some seed down on the site too. There were a few bare areas, and I just wanted to make sure that with all the the rain we had a week a ago, I got in the middle of that rain and got some annual rye and red fescue down, and and hopefully, that'll take that sand is kinda tough at times. But overall, the site looks really good. It's not eroding.

There wasn't much for sand in the gutter line. So the vegetation that's out there, while somebody might look at it and say, well, it's weeds, it's actually serving a pretty important purpose that is keeping that sand from blowing around. And, of course, as development occurs, it'll turn into more beautification and aesthetics. I think that concludes my report unless anybody has anything else they would like to ask me about.

Jason, thank you very much. Members, questions for Jason on this month's report? Okay. I don't see any questions. Thank you. Well, if you're just hanging hang tight for the second agenda item. That second agenda item is 26Dash0436, the approval of the certified survey map. Subtle for Lot 11. Members, do have the, certified survey map, document attached to our packet. JC, if you can just, set this up for us, we'd appreciate it. Happy to.

So this is for Lot 11 And 12. This is the the two waterfront properties that flank the storm water vault. And you'll recall from the meeting we had with Ryeke and and Cowboy Jacks that they needed to separate, the two lots on Lot 11. So because they'll be in separate ownership, Cowboy Jacks will have one, and Ryeke will have one. The certified survey map was, shown in my the appendix of my report this month.

I put it on let's see. It's the fourth to the last page. Basically, it shows two two parcels. The lot one, which should be the one that there would be 60 or so apartment building units on it. That's the Ryeke site. That's 1.1 acres. The smaller lot at Cowboy Jacks would have Lot 2 is point three four acres. Lot 12 is the one with the concrete monolith. That one would stay intact in its entirety, so no need to subdivide that. I did mention that subdividing redevelopment authority lands is not gonna be uncommon.

There'll be times where we will have lots that were part of the plat that will have to subdivide. For instance, when when Red Earth comes in for the condominium developments on Lots 3 And 4, there'll be a condominium plat that'll individually subdivide each one of those units because each condominium will will be privately owned. But this is really just to set the stage for that that joint project between Reiki and Cowboy Jacks. One other thing, just a a brief reminder that the original PDD and the PDD revisions that were done, the plan development district, this is the master plan that formed the zoning. If you look at the original illustrations, it showed two seven thousand square foot buildings on Lot 11 and one twelve thousand square foot building on Lot 12 for a total of 26,000 square feet.

And I think we mentioned last month that we're gonna be over that with the Cowboy Jacks development. On Lot 11, there was actually a 50 or so stall parking lot shown. And when you look at the guidance on page 48 of the planned development district document on off street parking, it it suggested that we would have off street parking in the development, particularly for commercial uses like this. So even though it's not exactly what we were planning on with the building on Lot 12, we're shifting the parking that would have been on 11 over to 12, and we're getting more building volume on 11 in that mixed use development. So that's just a note if you haven't seen that drawing and the guidance and and off street parking on page 48.

And Bill Albright and Lee might talk a little bit more about that today. Thank you. Thank you.

Jason, thank you very much. Members, do you have any questions on the survey map itself? Yeah. You guys go ahead.

For Jason, the the guidance you mentioned also mentioned something about screening the parking as well. Is that still in there? Was that is that an older I would just maybe call attention to that. That is in there as well. Yeah. That that there is screening requirements in there too.

Absolutely. Yeah. On on page 48 of the design standards, and this is this is ratified as part of the zoning for the site. So it is something that we expect, you know, as part of the landscape architecture for these these sites that landscaping screening from the street, all of those provisions are listed in there, and those have to be represented. Tim Acklin in the planning department typically does the design review, and he looks at both the building and the and the site. So that'll be handled as part of his work. Additional

questions on this item? If not, we'll be looking for a motion for approval for the certified survey map.

Move to approve.

Motion by council member Jansen and a second by Gus for approval. Questions, comments on the motion? Seeing none, all in favor of the motion, aye or thumbs up? All opposed, same sign. Motion carries. Agenda item three twenty six dash zero four four one, consideration of possible action on a planning option agreement with Reiki Properties for Lot 11 Lot 1 of this certified survey map. I'll turn it back to Jason again. He did outline, again, the separation of Lot 11 into those two parcels. But, Jason, please give us a brief summary. Thanks.

Thank you. What this is is you recall we actually approved an option agreement for Lot 11 with Ryeke back in January. But fast forward to now, they've reached an agreement, with Cowboy Jacks. So we need to revisit that option to basically specify that it is only for lot one of the CSM for IT and lot two of the CSM for Cowboy Jack. So that's what this is.

It's really just to make sure that the option agreements are reflecting who owns what and and their arrangement with the RDA. One other thing I should mention, and that is just gotta pull up a different screen here. The option for Cowboy Jacks was shown as Capvest. We we need to revise that owner, so that should be part of your motion tonight. And that is it should state cap Capital Investment Partners LLC.

It's not uncommon for us to have a an LLC listed. So we we use Capvest as a placeholder until we got the actual entity name from Bill, and so we wanna use Capital Investment Partners LLC

for Lot 2. For Lot 2. Okay. Thank you for that clarification. So this item, current item is on Lot 11, Lot 1 for the planning option agreement, again, to clarify the planning option agreement that had been in place previously. Members, any questions on the planning option agreement as presented before we take a for a motion? A motion for approval by Phil, second by Michael. Questions or comments on the motion as presented? Seeing none, all in favor of motion aye or thumbs up? All opposed, same sign.

Motion carries. As Jason mentioned, item four twenty six dash zero four three nine is consideration possible action on planning action agreement for Capital Investment Partners LLC for Lot 11, Lot 2. And, this the the motion for this item would need to reflect the adjustment from CapVest to Capital Investment Partners LLC. Just just a note. Before we get to that, though, I wanna see if there are any questions related to this item or conversation you'd like to have.

I see none. Do we have any we have a motion for this item. Move to approve. Motion by Phil. Do have a second? Second by council member Jansen for approval. Questions or comments on the motion as presented? Council member Jansen.

I'll move to approve that, instead of cap, we would do the Capital Investment Partners LLC.

Got objection from federal motion maker. Okay. No objection there. Okay. Other questions, comments on the motion? Seeing none, all in favor of the motion, aye or thumbs up? All opposed, same sign? Motion carries. Jason, thank you for the explanation and clarity on the on the separation. Item five twenty six dash zero four four zero, consideration and possible action for Lot 12 with Capital Investment Partners LLC. Maybe, Jason, as a as the members look at their packet, same consideration for this one to change CapVest to Capital Investment?

Yeah. This should be also listed as the same entity, Capital Investment Partners LLC. One other thing, Bill Albright is online tonight, and I I think he'd like to say a few words about the evolution of the design for that space on Lot 12. I know there there was a question brought up about, you know, the parking lot design, and he has an update for you. Keeping in mind that, you know, during the term of the six month option, there's an obligation there.

The developer keeps, you know, ongoing renditions of the design in front of you, so they would bring that back. They would like some direction, though. Like, if if you if if what he describes tonight looks positive, then they can move ahead with the next phase of A and E work. And so we don't have to turn back, you know, six months from now type of thing. So that he's just but he he is online and available for questions as well.

Jason, thank you. Bill, I wanna welcome you to the meeting and provide some space for an update for the group. Welcome. Floor is yours.

Yeah. Thank thank you. Can everybody hear me? We

can. There's a little bit of an echo. Maybe that's because we're unmuted. Carly, you wanna mute our meet the council chambers? Thank you.

How's that? Hello? Can everybody hear me? Hello? Hello?

Bill. This this is Adam. It looks like you might

have two attendees. Do you happen to have a phone logged into the meeting as well or an iPad?

I do not. Do want me to close one here?

If you could or at least mute one, that'd be great.

I don't even know about that. Don't know.

I'll be able to take care of that for you. Alright. Let's try it now.

Let me let me let me let me how's that? How's that? How's that?

Still getting a a pretty significant echo here in the council chambers. We're we're doing some tech shooting.

I I I I I g c c c c.

How about now? I think that's I I think we're back, Bill. We just had to remove your other attendee. I think I think we're good. Thank you. Are we good? Yep. Please proceed.

Thank you. Alright. Great. Yeah. Thank you. So wanted to touch base. We I've been working with Paul Nelson who was hired by the city to to work on the park area down there by the river and so on over the last month or so to develop a a parking lot area that's pleasing to everybody involved, including us. And I'd like to talk a little bit more about that, kinda show you some renderings that we have. The goal for tonight would would be obviously to get the the option transferred over to us. But then just to give some direction, like, okay.

What what is wanted to move forward to make sure we're moving in the right direction and so on. Now the original master plan, like Jason stated, said that, you know, there was some parking on Lot 11. We're technically shifting that. We've really maximized Lot 11, which is awesome, which is which is the really the the riverfront lot when it comes to this. And we're maximizing that, and then we have the monolithic slab and then some parking over on Lot 12. We're using some native landscaping, some fruit bearing plants and so on for some ground screening. And I'll go ahead and pull up what Paul had shared with me on this. Are you guys able to see this?

Yes. We can. Thank you.

Yeah. So this is a rendering that Paul sent over, and and and we've been working on on this with him. This maximizes Lot 12. Lot 12 is a it's it's it's a little different shaped lot too compared to most other lots. Obviously, it's not totally symmetrical. So to be able to maximize that parking, also be able to use some landscaping that's gonna tie into the rest of the park. We have this area here is a a part of a future viewing tower that was that that's being proposed, and that can be shipped around. That's not part of our lot, but that is that is on the site. We do have a switchback, and I'll move up to here to kinda show you kind of the layout of the parking lot. You would come in here.

This would be a one way, come out and so on, and then this would be a two way coming in here. We would do the switchback, which would come along Cowboy Jack's is pat patio and be able to connect down to the main trail that goes around the park area. And then as you see, we would use plantings, native plants, and so on to help create a nice buffer between the the the road and the parking lot and so on. I've also talked to Jason about doing some type of a shared use with the parking lot as far as having farmers markets. You know, we open at 11:00, so our normal hours are, like, eleven to eleven to midnight.

So anytime between most most farmers markets and so on are are before that period of time. And whether it be parking for the park, whether it be parking for that, during that morning to to eleven or so, could be open to the public to be able to use this this area and and and to be able to have those farmers markets. This kinda shows the connectivity with our patio. So you would come in. You can see the greenscapes and so on, be able to come in, and how it connects directly to the park itself, which is what we want.

We wanna be able to have cowboy jacks kind of be incorporated in part of the park with with all the connective trails and so on. So we're excited about this location, excited about how this is actually kinda coming together with the with the connection pieces and with and with Paul's help with this. We're also working with Solar. Solar is doing a proposal for us, but as you can see, it will be somewhat I'm I'm curious to see what they come back with because the angles of these of the lot and the angles of how this parking lot flows with the development, can be tough with doing panels that are square. So, I'm I'm I'm curious to see how it's all gonna come out.

It might not be feasible, but we are exploring that option, as far as the solar too. So

Noel, thank you very much for sharing that. Made my initial question. I thank you for bringing up the the comment on the shared use, particularly for farmers markets. I know our farmers market has been challenged to find a look at a home, so to speak. I guess my question related to that and related to solar, has there been any thought about creating some sort of canopy that might also benefit the farmers market attendees and maybe even lend it to a more more permanent location? You know, for example, I'll let what is present at at Cameron Park currently. You know, a little bit different infrastructure, but has that been discussed at all with your solar partner?

We haven't yet. They they are doing canopies, and and I am supposed to get that proposal here in the next week or so. Like I said, they're challenged with the with the angles, not being square, even, you know, with the if you were to build something and and I built Farmers Market. I built a really big timber framed project in Menomonee, Wisconsin. But, again, that's, with the with how those pillars are and and so on, it's challenging, I guess, to figure out how we're gonna curve that deal. But it hasn't been talked about. Not that it can't be. Not that we're uninterested, because all that stuff helps everybody. So

Thank you. Yeah. Thanks for humoring the question too. More out of curiosity. Yep. Members, questions for for Bill on the current proposal. I think even, you know, back to his question of he they wanna hear feedback from you all on, is this the right track, or do you have ideas to improve it? What are your thoughts? House member, Jasmine.

My initial thought is I like it. I think it it's, bringing in some different landscaping ideas, things that are maybe use beginning to be used in other parts of the city. So I think you're going in the right direction.

Thank you.

I see a hand oh, council member trust. Give your hand raised. Go ahead.

I do. Thank you. Can you hear me?

Yes. We can.

How did you calculate the number of parking spaces that you say you need? What is that based on? Sure.

You know, there really isn't a set number of we currently have 90 where we're at. And and from that, and and we are a 100% full from, say, 05:00, 04:00, 05:00 till 10:00 at night. Now there is a there is some other now once that parking lot's full, there people come through that, and then they just leave. I mean, they either leave or they try to find another spot. Now there is a distance between the restaurant where people will park and walk to a certain degree, but people feel that when they drive through the parking lot and it's full, that we're full and we're not.

And that's the issue we have currently at our at our current location. It is not big enough. And the city ended up actually building another parking lot for cowboy jacks underneath the bypass, which added another probably I bet there's probably 80 to a 100 spots under the bypass. But that distance, even though it is it's not very far as a crow flies, that distance and the out of sight, out of mind is a hindrance because it's not it's not used as much.

So is your current restaurant located in a downtown district?

It's in a very tight district like this. It's it's almost exactly like like this situation.

With bus service and bike trails?

We have River Prairie. I I'm not sure if they have they have bike trails for sure, a 100%. And the I I believe there's bus service within the the development.

Okay. I'm I'm not

Thank you. Gus, go ahead.

On the the rendering here we got in front of us, the the green space to the the right, that's that's not green space in in real life, is it? That's the the memory care unit. Correct. The, the the so how close is all that gonna be? I feel like we're gonna have to be right on top of this this full parking lot from 4PM to 10PM. Is that is that gonna be the case?

Is are the bill I'm I'm not sure exactly what the layout is and what the what the builder is proposing on these other lots. I don't know how far they're set back from that, I guess. But, yeah, we will be busy. I mean, it it that's that's the purpose. I mean, we'll be busy from four to probably 08:00. It'll be full.

Other questions, comments from members?

A quick clarification. You had stated the intent would be that this would be a shared, sorry, shared parking for the park area. But given some of the other comments in response to council person, trust, sounds like, you know, you are expecting the lot to be full. Would you ever imagine having limited parking for public? I can see where that could be creating some conflict, and I just wanna make sure that, you know, the expectation is clear there.

You know, we're not gonna police the parking lot. It's it's not that's not our intent. We can have signage up where it's public open from public from until 11:00 or whatever that may be. But what's gonna happen is is is the people are gonna come to Cowboy Jacks, and they're gonna fill this parking lot. When we're open, it's gonna be busy.

There won't really be room for public during the period that we're open. And as that comes and goes, whether they're at cowboy jacks or not, we're not gonna if if there's something going on at the park and and somebody's using the parking lot, there's no parking passes. There's we're not gonna tow. You know, it's it's so we'll have some signage up, but it will still be designated parking for cowboys. I mean, if we're building the parking lot from eleven to to to midnight or so. And then during the and before eleven, then it could be open to the public. We don't it it doesn't bother us at all.

Council member Petros, do have your hand raised?

Yeah. I'm really sorry about this. We spent a lot of money to bring this property up to usage, and you can't tell me what your formula is for 90 parking spaces that you anticipate will be full for six hours out of 24. Is that right? I mean, you'll be full from four to 10, and then the rest of the time, it's gonna be empty or hardly used.

I mean, we just went through an entire process eliminating minimum parking requirements because we think there are higher and better uses for our property than surface parking. So I'm I'm not going to be supporting this flippant use of surface parking on extremely expensive land that we have brought up to market.

But before you respond, I just wanna remind council member trust that this property is has been investigated thoroughly by several developers now with with concrete monolith and with limited availability for build. So I I just wanna note that just for just for background reference too. And, Bill, I and if you have a response to council member trust, please go ahead.

Yeah. You know, I mean, this part, like, can be opened to the public. We're not gonna again, we're not going to monitor that. But if you're gonna have if if if the city wants to have a restaurant of our caliber and our caliber when I mean that, I mean, we had 255,000 people come to our restaurant in Altoona last year. That's bringing people to this development, whether it's gonna be for the commercial uses that are required in the mixed use buildings if you're gonna have the Verizon store, the whatever these other mom and pop shops, coffee shops, and so on.

You need people, you need parking. And we're gonna bring the people, and this is the parking that that is needed to do that. Whether it's me or any other use of a restaurant of the size of cowboys of the of the popularity of the you know, and I'm not tooting my own horn. I'm just telling you the facts of the how it is in Altoona. The atmosphere that we bring, the vibrance that we bring to this park that'll be on the river, that'll be on in in a very key deep part of the development.

So people are gonna drive through this whole development to get to us, and they're gonna pass all these other requirements of commercial buildings. You need to have our type of a use, in my opinion, to be able to bring the traffic and the people to make everything else flourish. That's what that's what's needed. You can't have multifamily everywhere, and you can't have other uses, especially if you're requiring commercial because you need to be able to have people to be able to use those commercial facilities, those commercial shops, and that's what we bring. You know, I'm excited about Cubways.

I don't know if everybody else is or not, but we do a really, really, really neat job. And it's a really cool place to be, and people are gonna love to be there. And this decision to move ahead with this or for the parking or so on is something that's really that's gonna resonate throughout the city, and it's gonna be an exciting thing. Many, many restaurants are failing right now, and I believe you guys probably have had some in La Crosse along the riverfront. There has been company came in, and and and there's a few restaurants that have closed. Nothing's being built new, especially a stand alone type facility like us. You might see a burger shop, you know, or something like that, but we are a destination type restaurant with a really cool atmosphere that's gonna bring some vibrance and some excitement to this development.

We have a hand raised in the council chambers and council member Jansen.

I just wanna say that I am very excited about Cowboy Jacks. Every chance I get, I wanna go to Altoona just to check it out. And I think that what I envision is that the parking lot is going to be very busy when during the hours of four to ten as you're talking about. But I envision a lot of other people coming into River Point and using that parking lot during the day. And I envision, and I think it's very feasible that it will be a shared use parking lot.

Obviously, the priority is Cowboy Jacks. But I guess I believe that, with your experience, Bill, that that you've got it figured out, and, I'm confident that we move forward with this.

Any additional questions for for Bill on on the planning option agreement? And I think I we're, believe, kinda looking for general agreement on on progress or refinement. Just looking around for first of all, any questions? Additional questions, comments? Yeah. Julie, go ahead.

Just one comment, Bill. I understand the need here to support the restaurant. My only feedback from a planning perspective just per the my last statement a month or two months ago, is without Lot 9 and looking at the fullest and best use, as we talked about the farmers market or other public sort of spaces in that thoroughfare, that extends beyond just to the parking. So, you know, that limits a little bit, but, that would be the the feedback or the design, direction that I would be looking for, at least in understanding that it's been studied.

I'm sorry. Can you please clarify that? Are you talking about the area that's in between Cowboy Jacks and Lot 12?

That's correct.

And and what would you like to to to see there?

I think my understanding of the PDD originally is that would that would be, green space. It would be community space. It would be used more for a public, a public area, so ensuring that that's taken into consideration in in the planning. So that's just, you know, for for future comments and and what we'd be looking for, at least what I'm looking for is an understanding that that's been, evaluated.

And as far as, like, the, partnering with the city on the usage, again and it doesn't matter to us even if this is a public parking, area all day. It really doesn't matter to us. Our current lot, we have there's 90 stalls that are in our current lot. 45 are cowboy jacks only. 45 are city, and the city paid for it. And the city plows it, and we split the cost. So there's 90 stalls that but the cowboy jacks people fill it up. If the city wants to put the parking lot in, I got no problem with that. And but just realize when you're next to cowboy jacks, it's gonna be full with cowboy jacks people. So it doesn't matter to me if it's public, if it's private, if I build it.

We need the stalls. You know, that's important. And And if we can do a partnership, you know, whether that if I build it and we do a partnership and we say, hey. We can use the the the lot in between cowboy jacks with you know, there's there's vaults. There's these big metal vaults, and and and Paul has that on his other design too. Those are incorporated in this design too. But if it's something where we say, hey. We're gonna do cowboy Jacks builds it, and then we decided, hey. We'll have a farmer's market there. Maybe it's there all the time, and that's fine, you know, during a certain period of time.

And then and then just open rest, you know, for cowboy jacks. But those types of things we can work together on as far as usage as, you know, as long as we can know, that we're able to use the area to be able to get the stalls that we need. That's gonna be not just us. I mean, this is for the whole city and for this whole development. There's a beautiful park right in front of us, and this is a a thoroughfare a a a direct access to that park, and it'll be used by more than just cowboy jacks. And I think that's the partnership.

I'd like to recognize, Jason Gilman.

You got a comment? Thank you, mister chairman. I just have a couple comments, and I I'm gonna very carefully avoid sounding like I'm trying to influence policy or your decision because it is entirely your decision on on this, and I'm obviously a contractual work with the RDA. So my my goal is really just to take a look at what what does the PDD say that and that is the ratified guidance for this this site. And there are a couple of things I just wanted to mention.

One is that, to a council person, Crow's comments, the the concrete monolith from the geotechnical investigation on Lot 12 has indicated, according to Lee, that we've got a football field sized piece of concrete that I believe is nine to 11 feet deep. To give you a sense of the how monolithic and big that is. And what we've learned from two different developers is that they can't there's no cost feasible way to drill through that to put in, you know, the geo piers needed for buildings without excavating the whole thing out, which would likely be over $1,000,000. I I don't know what the cost on that would be, but I I did, one of the developers, the first one that had an option on the property told me that it would be over $1,000,000. Secondly, the the band of property that the RDA has that is West of River Bend Drive was designated from a land use standpoint as entertainment civic entertainment uses.

And, that implied in in talking with the intent of the architect that helped us design this master plan was that we wanted this, area to to have some vibrancy with the the adjacency to the parkway and the marina so that there were uses that were exciting that, you know, were offering services and and food and and so forth. And part of the reason for that was they were worried that if they did all residential all the way to the river, that it may be kinda dead during the day, that people would go off to work, and there just wouldn't be much activity. So they tried to you you might recall that the original master plan showed big office buildings along the river, and that was eliminated because of COVID and, you know, office space kinda went away. But they kept that civic entertainment band in place. The other thing is on on parking, and I obviously, being a planning director, I historically, I remember how, you know, controversial parking can be.

But the guidance in the PDD does say this. It says the very first line, it says parking availability is critical to the success of commercial development. Site access ensures visitors are able to drive to a destination and access their desired location conveniently. And it goes on to say that we wanna strike a balance, and there's a on page 48 of the PDD, there's actually a a diagram that shows in pink all of the intended original off street parking lots within River Point District, and it was pretty extensive. In fact, the original master plan showed a a parking ramp on the location at Lot 1 And 8 were, which was later eliminated because we didn't want any more public parking ramps taking up real estate.

But we did recognize that some off street parking was gonna be very important to being a catalyst for commercial investment. So that's kind of how I look at this. I I do understand the, you know, the concern about taking real estate and putting too much off street paving in rather than buildings and vibrancy. But I see this as, you know, as being catalytic to what's happening on Lot 11, which is a much more voluminous project than what it would have been had Lot 11 had half of it be a a public parking lot or a parking lot. Last thing I would just mention is that shared parking is not uncommon.

We have if you you know, the the parking ramp down between Pearl and Jay, for instance, has all kinds of signage in it to you know, for the adjacent hotel and things. And Outlet 9, which is basically the space over the top of the storm water vault, if you look at the original renderings and the intent to that space, it was hard surface. They they actually showed kind of a plaza there, that could be programmed for multiple uses, and I don't see this as being any different. The the guidance in the in you know, for parking lot design says parking lot material should be high quality and attractive, reducing or eliminating asphalt and providing light colored paving materials at surface parking lots, reduces urban heat island effect, and it goes on with other suggestions. So I just wanted to note that that was intended to be open space, but it was also intended to be an urban hardscape that would support programming.

Thank you.

Jason, thank you. Thank you for the reminders and the what's in the PDD. Members, additional questions, comments? Yes. Go ahead.

I just wanna say that this particular lot has very limited uses. I think that's been stated over and over again. And there really isn't much else that can be used for other than green space, and there will be plenty of green space if it you know, if the design of this parking can be even greener than it shows in the screen at this moment, that would be great. But, there isn't a great deal of dedicated parking in this development as it is, so we're gonna have to have some. So I think we need to move forward and especially considering that we definitely want this restaurant. So that's what I think about it.

Seeing no more questions, just to remind our members that, whatever motion is made, we need to acknowledge the change from, CapVest to Capital Investment Partners LLC within the language of the planning option to look for your guidance on a motion. Council member Janssen?

I would move to approve, and, I'd replace Capvest, with Capital invest Investment Partners LLC.

A motion for approval. Do we have a second? Second by Phil. Questions or comments on the motion as presented? Seeing none. All in favor of the motion, aye or thumbs up? All opposed, same sign? And motion carries. Thank you. We'll move to agenda item six twenty six dash zero four one four, the monthly financial update for the redo excuse me, redevelopment authority for this for the month of April.

Really more for your awareness and maybe have space for to answer or ask any questions of staff for this item. I see no questions related to the financial report. We will accept and file as presented. The next two agenda items, I'll note, item seven twenty six dash zero four two eight. That is the resolution approving purchase for offer purchase for 7 Copeland for parcels as noted in our packet and agenda item eight twenty six dash zero four four two, consideration possible action on preliminary term sheet for public assistance for Reichke properties for the development of Lot 11.

Both are noticed for closed session pursuant to Wisconsin statute, 19.85, parent one, parent parent e. I did wanna ask if there is any, need to stay in open session for these items or to move into, closed session. Jason, I recognize you.

I I would recommend that we because this is a land negotiation that we use use it just to have a brief discussion in closed session about the terms of the offer to purchase.

Seeing that and seeing that yeah. Julie, go ahead.

I would say for the second item, do have there's I there is something we would recommend discussing in open session.

Members of that objective, we will, table item seven for now, go to item eight, then go into closed session for both. Is that objection? I will do that. Let's move to agenda item eight twenty six dash zero four four two. Again, this is the term sheet for Lot 11 for Reiki, properties for public assistance. Julia, I would do wanna turn it over to you for a a conversation.

Yep. So we received a tip application from from Reiki for Lot 11 about a a month ago, and this went before the ECDC, the Economic and Community Development Commission yesterday, because as part of that tip application, we were looking at both the tip request, but through the financial analysis, took into consideration the a potential land sale amount. This when this went before the ECDC yesterday, the ECDC did unanimously unanimously approve the term sheet. Of course, it's contingent also on the RDA agreeing to the land sale amount. At yesterday's meeting, Lee with Reiki gave just a quick overview, a reminder of the project they're doing, and then just the request they're making, and then just some of those high level but fors, like, why this project is deserving of public assistance.

And so I asked him just to share that in open session for the public and for all of you. And then after that, we do, we would recommend to discuss the term sheet and the analysis in closed session. So I think if it's okay with you too, we can go ahead and turn it over to Lee to share his screen and to kind of, go over what he did yesterday with the ECDC too with you guys.

Julie, thank you. Yeah. Lee, welcome. The floor is yours. Thank you.

Thanks, guys. Share my screen here. Can you guys see the PDF screen or no?

We cannot in the council chambers.

Oh, hang on one second. K. A lot of you guys know who I am. I'll spare you the talk about my company and how we interact with the city and stuff. But, last night, we kinda shared, this screen, just kinda asking for some, you know, public incentive.

We we this is this is Adam. We we see the

agenda for this meeting. Do you

have another document you wanna screen share?

Yep. Yep.

Thank you. It's a good reminder. But

You guys don't wanna see the agenda? Can you see a screen now with the PDF up there?

We can. Thank you.

Okay. Yeah. So, like, last night, I just kinda went through all the challenges and and just kinda talking about our design and our our unit, some of the things that we're we're kinda working on. We've we've narrowed this down to a building size, which has allowed us to, you know, get the rent roll figured out and work with Ellers last night on a on a TIF assistance number. And so tonight, obviously, I I wanna tailor it towards the land sale talk, but, you know, some of it is what we're putting into this property.

Right? So it's just not a normal, you know, multifamily housing. We're we're putting some design features that are going above and beyond the cost. The facade is gonna have extremely high end material, the brick, the architectural metal panels. Some of our in unit design features are we're doing full, floor to ceiling windows to get the natural lighting and especially the corner units and some of the bigger penthouses we're calling.

And then just above and beyond stuff, increased our value between floors. You know, we like to take care of our residents, and the number one thing they talk about is here and their neighbors, so we try to eliminate that. Being that this is on the river, we had carefully thought out and designed to make sure everybody had balcony space. We weren't able to get all 100% just the way it worked out, but I would say we're about at 90% with everybody having some type or some form of a balcony space. And just the the standards we're keeping up with in the industry, the EV charging stations is a must now.

We're probably at 55%, even somebody that's rented. I think we have two entries already of tenants that are lot eight that have already requested EV charging stations. And then and then the overall amenity space. Right? So we've kinda we've kinda shifted our construction to an amen a garden rise amenity based builder.

And this particular building is a 60 unit. That's gonna have, I think, over 3,000 or 3,500 square feet of common space when you walk into the lobby. And some of the things are, we're working with Trackman. It's a it's a high end, golf simulator that will be in this space, secured package and mailroom, and a full health and and wellness center, which is, like I said last night, it's a fancy word for a gym, but there's a yoga like, a branched off yoga studio. You know, some of the challenges of this particular site are the compromised soils.

So we don't have the concrete monolith that Lot 12 does, but, however, we do have more organic riverbed soil. Must have been more fill on that end, which will require more and deeper, and even possibly larger footing sizes, than Lot 8. And Lot 8, if you guys aren't familiar with that, it's called Lofts at River Point. We have our banner up now, just, towards the, the groceries or the festival foods there. So we've talked with our structural engineers.

They don't have it down to a t yet, but they did say it is gonna be more expensive than Lot 8. Just like Lot 8, also, it's gonna have a vapor mitigation system. And some of the things that help get this off the ground is, like, the incentive is just the market volatility. We're not seeing any cheaper construction costs, and funny I'm talking about this, but the PDD's parking requirement density. So we've narrowed this down to a 1.1 acres, and we're fitting 60 units on it, and you still have to worry about keeping a parking, surplus or or a neutral parking.

So I think the rule is one to one, one unit parking per one stall per one unit, and then there's, like, allowances, like the bus stop and, I think, bike racking. So I'd have to ask my architect on that, but it gives you, like, a 10% allowance. Well, it's it's still tough to hit. So we produced this TIF sheet or this TIF term sheet with the help of Ellers. And last night, we asked for which was in line with what, Lot 8 was.

It's just same thing as Lot 85% PAYGO system over the twenty years. So it's an 85% rebate on the taxes. I think a seven year look back or five five year look back they can start. The guaranteed project assessed at 8,522,000 and a guaranteed construction cost of 13,580,000. And this land sale now that we've that we're going for the the different CSM, the the approved CSM.

So now we're Lot 1 of this, Lot 11 CSM, which were only 1.1 acres. We kept the land sale write down or negotiated to the same per square foot cost as as Lot 8 even though this will maybe have a little more site work, larger footings, and deeper geo peers, but we just kept it consistent with the land sale rate down as Lot 8, to the $275,000. So that's kinda just the meats and potatoes of of the land sale, chat and discussion, and I am open to any questions that you guys have.

Lee, thank you very much. Members, questions for Lee on the presentation, council member Janssen.

You you were talking about parking minimums. I guess my question is how many parking spaces do you believe that you need, and are you adding more than you actually need?

I think we're right at, so we're right at if you just give me two seconds, I'll pull it up. So we were at the requirements. So I think it was 55 stalls total, and that included four ADA. So that would be three in the surface park or three in the parking the at grade parking garage and, one in the parking surface parking lot that we fit. Would you like me to share my screen so you can possibly see the site plan?

I just need to know if you're adding more parking than you actually think you need.

Nope. It was just a struggle to get at the requirement. The I think it was 55 stalls we needed.

This may be more of a question for Julie, maybe for the group's awareness. Are there what are the properties on the River Point District site have received city incentive assistance at this point of assistance?

Well, all of the ones that are currently under construction, so MSP and Driftless apartments, they received to the assistance in the lane right down. So did the loft that's currently being constructed, and so did War Eagle, which is finishing up construction. And then you'll recall, Lee referenced Lot 8, which is the the, property that's right off of Copeland there. When you come in, I think they were previously calling it at least Gateway Commons. We negotiated a term sheet on that one too. We haven't gotten to the development agreement being adopted yet, but that also is anticipated to receive assistance. So I think I don't think I'm I think that's all of them for right now.

Thank you very much. Members, other questions for really before we head into closed session? K. I see another another questions. Lee, thank you. We will call you in a closed session if we need to. We'll keep you on standby with Jason. Noting that, again, the last two items, seven and eight on our agenda are noticed for closed session. I think at this point, what I'll do is take a a motion and a second to go into closed session and then roll call vote to entertain a motion to that effect.

Okay. To closed session.

We have a second. Motion by council member Jansen and a second by Julie for closed session. I'll start on my left for those in closed session, Julie. Joyce and I. Gus, hi. Hi. Phil's and I. K. We're officially in closed session. Thank you to those joining us in person and online. We will convene in closed session right now, and we'll we'll adjourn in closed session as well. Thank you. Have a nice evening.