Community Redevelopment Agency - Regular Meeting

I pledge allegiance to the flag of The United States Of America and to the republic for which it stands, one nation under God, indivisible, with liberty and justice for all.

Is there a motion to approve the agenda?

So moved. Second. We have

a motion and a second. All those in favor?

Aye.

Any opposed? Motion carries. Approval of consent agenda?

Motion to approve. Second.

The motion is second. All those in favor? Aye. Any opposed? Motion carries. Public to be heard, would anyone like to address the CRA board? Seeing no one, we'll close public to be heard. Moving on to new business. 7A, project updates on the community redevelopment area. Ms. Davis, how are you?

Hi. Good evening. I'm great. Good evening, board, city manager, and city attorney and fellow staff. I do want to start my update with just a reflection back on the consent agenda. Included in your package was our CRA annual report for fiscal year twenty three-twenty four. That has been properly noticed and is posted on our city's website. There will be one supplement that will be added to it once we do have our audited financials from the finance department. We'll be supplementing that report, and it is consistent with the updates that you received at the winter workshop. So a lot of the same information was provided there.

I do also want to thank our staff for working on this item, our communications team for getting it together. Just like our city manager's annual report, it takes a lot to assemble the information so we appreciate that as well. Next, I did want to provide a brief update on Southern Grove. So we'll switch over. Thanks.

So I'm just gonna provide a couple small updates. The first is gonna be related to our developer who's doing tradition entertainment district. There are currently two parcels associated with that. One was closed on the 19 acres further south on the Parkway. The second is 44 acres, which we are anticipating closing in a few weeks.

But last week, we met with the developer, and he provided us an update on the 5.5 acre site. So I didn't wanna share that with you because I think that's good information that we can provide. There are no announcements on names, so a lot of this information is, graphic in nature. His development plan has changed slightly from the original plan on that site of four freestanding restaurants. So he is proposing two restaurants, a bank, and a grocer on the site.

I asked him to provide me some elevations for context. These are preliminary elevations with the names removed for confidentiality. So I just wanted to share some of these graphics with you. Here's another bird's eye view of the site. And again, another grocer who has not been seeing it out in Southern Grove yet, so we're excited about that addition.

Is that pretty much set

at this point? Yes. We met with him last week, the city manager and I. He was not prepared to make an announcement today, but I did ask if we could at least share some graphics showing the trend for the site, and he provided those to us. So he will be making that announcement. When? I think once he finalizes his agreement with the respective grocer.

I spoke to him about it. So I kinda have an idea. But

Not tonight.

Oh, he he did not indicate as to when, so I didn't know if you had a different timeline.

No. I I mean, can defer to the city manager. Okay. I didn't get that feeling either if it was gonna be this week. K.

But I think it's gonna be soon.

Yeah. Soon. So we're excited at least to to see this development plan.

Yeah. If this one comes to fruition, it will be very nice.

And so in that discussion, he did provide us some insight to the other districts and how those deals are playing out. So we'll look forward to bringing those updates to you as well. The second update I do have for you is on the 33 acre site at the Southeast Corner Of Marshall And Southwest Village Parkway. So this site, we are very close to finalizing the LOI on this, and we'll be making an announcement with that. The developer had a couple more items they needed information from us before we would bring that forward. And we're just assembling that to get back to them. We're excited about that project as well. And then the last

Jennifer, with this 33 acre site, once it's announced, that leaves us with approximately how many acres? Because when I looked at this map, I gathered right about 100 acres are still open so that 33 acres would put us somewhere 55, 60 acres left.

So it's actually a little bit less than that. And I'll give you this last update and then we'll do a tabulation So at the the last update would be on the 55 acre site at the corner, the Northeast Corner of Becker And Village. The RFP closed on Friday at three p. M. We did receive two submittals from two developers, and they're in review by procurement right now. So there is a process involved in that. We'll be providing an update to you, and the process does indicate that there would be oral presentations and things like that. But we're excited that we got two really good developer applications on that. So to answer your question, Mr. Pickett, take out the 55 acres, take out the 33 acres.

We do have about a 10 acre site that is just north of the 33 acres. And then we that's about it because the 7.5 acre site, we're in PSA negotiations with Richard Tamboni. So really, it's the 10 acres that's left. And we've had a couple of offers on that, but nothing that we've

10 acres left out of 1,200.

Out of 1,200.

In five years?

Just about, yeah.

A little more than that.

Maybe.

Almost seven years.

Yeah. So seven years, so that's still Remarkable. Remarkable, exactly.

Absolutely remarkable,

yep. Yep, very excited. And it's been, for sure, there's been a lot of people involved in the process along the way, a lot of great development teams that have made it happen. I know we had the benefit of the timing of the economy, but we're really this is how this corridor needed to play out. So we're super excited, and I think we'll be really looking forward to two point zero and where that new jobs corridor is going to be for the city. So that closes out the Southern Grove updates. The last two items, I did want to provide a brief update on Project Dubay. The winter workshop, I let you know that the financials were in review by an independent financial review committee. We also secured a third party reviewer for that. That information has all come in, has been assembled.

We are just reviewing a couple more items and finalizing some language in the MOU, and then we'd be prepared to bring that information forward. I believe working with the city manager, we would do some one on ones so that each of you would understand what that project fully entails before we do the announcement. Okay. And then last but not least, the restaurant on the river. We were out on the park site this morning working on some signage locations.

But the restaurant itself, we have made a lot of progress in the last thirty days with the development team. We have there were some utility items that we had to work through. They, I think, are down to their last comments with pre permitting with the building department, and I believe we are able to go ahead and put in or they're able to go ahead and put in an application with Public Works for their permit. So we hopefully will start to see some activity out there. We have a call Wednesday afternoon with the developer again to go over those items.

Okay. That's great. We're definitely all looking very forward to that.

Right, counsel? Happy to answer any questions on any of the CRA items at this time.

Any questions? No. No. Alright.

I'm done asking questions. I just want announcements. Yes. Let's go. That's it.

Yes. We all do.

We love you. Thank you for all your hard work. At the end of the day

We want an announcement.

I understand. Yes. I do understand. We're waiting very unpatiently. Well, I'll work with

the city I'll work with the city manager on getting a special meeting called as soon as we're able to.

Mhmm. It would be really, really great if we can have the two ones that we've been anticipating the most close or at the same time to one another because that will if that's the case, it will be a really good thing to celebrate. So very exciting thing to celebrate for our residents. Definitely. Great. Alrighty. Any other questions? We're good? Thank you. Any other issues? Alright. So we're adjourned.