ITEM 4.1 WFE Parking'
CITY OF
Ot 1 0
TA
MINNESO f9
DEPARTMENT INFORMATION
ORIGINATING DEPARTMENT,
Planning
pnEacwreR(s):
City Planner Licht
AGENDA ITEM DETAILS
Request
for
City
Council Action
nEousmrom
City Planner Licht
REVIEWED BY:
City Adm|nistratorJoh nson
MEETING DATE,
12 August 20I3 |
ITEM #:
4.1—VVFEParN[n@
City staff recommends approval of an agreement with Main Street Otsego Development LLC regarding
construction of additional parking for Lot 1, Block I Otsego Waterfront East 2 "u
ARE YOU SEEKING APPROVAL oF AcomTnxor, | ISaPUBLIC HEARING REQUIRED?
o*onoROU womuor/F I CAT /om,
Main Street Otsego Development LLC owns the two existing buildings |nthe Waterfront East
development as well as the undeveloped Lot 2, Block 1 Third Addition site that was to have been
developed with the riverboat restaurant. The mix ofmedical office users |nBuilding Band restaurant
and office uses in Building C can create a demand for parking in excess of the current supply, shown
below
Existing Stalls
Building B
77
Building C
64
Lot 2, Block 1
57
TOTAL
198
The property owner has prepared plans to add ZSadditional parking stalls within the remainder of the
undeveloped portion of Lot 2,Block lOtsego Waterfront East Third Addition. Although these stalls are
intended to be "Lemponam" they will be paved and surrounded by perimeter concrete curb as required
b»the Zoning Ordinance. In that off-street parking is not an allowed principal use of property within
the PUD District, Lot 2, Block l Otsego Waterfront East 3'"Addition will need to be combined by
administrative subdivision with Lot 1, Block 1 Otsego Waterfront East 2 nd Addition (Building C). The
combination ofthe two lots atthis time does not preclude the property owner from separating them in
the future oradding additional development within the combined parcel.
City staff has drafted the attached agreement regarding the construction of the parking lot. The
agreement provides for oversight of the project by the City Engineer at the property owner -s cost as well
as requires the administrative subdivision to combine the parcels and memorializes the terms of the
PUD Development Stage Plan approval for Waterfront East addressing cross parking and access
requirements relative to the City park parcel (Outlot A). Within the agreement, the property owner is
also seeking to document that the development incentives for construction upon Lot 2, Block 1 Otsego
Waterfront East 3'd Addition re rna in in place either for construction within the combined lot or if the lot
is separated in the future as part of a development proposal. City staff believes this request is
reasonable as it maintains the City interest in incentivizing added development within Waterfront East
consistent with the City's economic development goals.
SUPPORTING DOCUMENTS: ci ATTACHED lo NONE
A. Site Location
B. Site Plan
B. Draft Agreement
POSSIBLE MOTION
Please word motion as you would like it to appear In the minutes.
Motion to approve an agreement with Main Street Otsego Development LLC regarding construction of
additional parking for Lot 1, Block 1 Otsego Waterfront East 2"d Addition as presented.
BUDGET INFORMATION
FUNDING: I BUDGETED' o YES
NA I c NO
ACTION TAKEN
n APPROVED AS REQUESTED n DENIED
COMMENTS'
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ESCROW AGREEMENT' AND AGREEMENT REGARDING LOT
COMBINATION AND INCENTIVE PAYMENTS BETWEEN
CITY OF TS Go AND ARROW COMPANIES, INC, AND MAIN
STREET OTSEGO DEVELOPMENT, LLC
WHEREAS, Arrow Companies, hic. (ARROW) intends to construct an expansion
of a parking lot on LOT 1, BLOCK 2, WATERFRONT EAST THIRD
ADDITION Nvithiii the City of Otsego (CITY); and
VMEREAS, Main Street Otsego Development, LLC (MAIN STREET) is the
owner of LOT 1, BLOCK 2, OTSEGO WATERFRONT EAST THIRD
ADDITION mid LOT I, BLOCK I, OTSEGO WATERFRONT EAST SECOND
ADDITION; mid
WHEREAS, ARROW has submitted for review by the City Engineer acceptable
plans for the parking lot expansion; and
WHEREAS, CITY will incur Eligineeriiig expenses for Engineering review of the
plans and inspection of the work as well as potential restoration costs upon
al andolmmit of pro.ject; mid
WHEREAS, MAIN STREET desires to retaill US e of Incentive Payments
previously guinted for 1,01" 1, BLOCK 2, 0J'S J -.". I
G0 WATERFRONT EAST
THIRD ADDITION upon combinatimi of the lots ref eremed above; and
WHEREAS,, the City estimated that incurred expeiises related to preparing crind
administration of this Agreement and engineering observation should not exceed
$3,500.00.
NOW THEREFORE IT IS AGREED betweeii the Parties as follows;
1. ARROW shall subinit $3,500.00 in cash escrow to the C11"Y for the
purposes of paying all City expeiises or restoration costs related to the
proposed parking lot expansion.
2. In the event that the City's incurred costs exceed $3,500.00 ARROW shall
promptly pray anyadditioncril amounts when billed.
3. In the event that the City's hicurred costs do riot exceed $3,500.00 any
reinaining a1110L111t shall be rettimed to ARROW at the end of the ProJect,
and at the directioti of the City Engineer.
4. Public parking for access to OUTLOT A, OTSEGO WATERFRONT
EAST will be provided in the CUrrent parking lot and expansion of the
parking lot.
5. ARROW aiid MAIN S'TRI11"Tiviii apply for an adiiiiiiistrative subdivisioll
to combine LOT 1, BLOCK 1, OTSEGO WATERFRONT EAST
SECOND ADDITION and the subject LOT I., BLOCK 2, OT SJ' -/GO
WATERFRONT EAST THIRD ADDITION.
6. ARROW aiid MAIN STREET will coiiiply with the PUD General
Development Stage Plan by providhig appropriate cross easements with
other TSEGO WATERFRONT EAST lots as they are developed and
construct parking facilities.
7. Incentive Payiiieiits related to LOT 1, BLOCK 2, urSEGO
WATERF RONT EAST THIRD ADDITION pursuant to Agree inent
between the City of Otsego and G Capital, Inc. dated June 29, 2011 and
recorded at the Wright County Recorder's Office as DOCUment No.
A11787 6 and subsequently assigned to Main Street Otsego Development,
LLC by agreement dated FebrUcary 25, 2013 shall reinain in place and
subject to payiiieiit by the City upon owiier iiieethig the Iiiiproved Value
Thresholds as set forth in the original Agrecment. despite combination of
LO"I" I, BLOCK 2,, OT SEG WAJ-T,'RFRONT EAST THIRD ADDITION
with LOT 1, BLOCK 1, TSEGO WATERFRONT EAST SECOND
ADDITION. Upon combiii-atioti, the Incentive Payment would apply to any
new construction on the combined lot upon the same terins and conditions
for credit on LOT 1, BLOCK 2, OTSEGO WATERFRONT EAST THIRD
ADDITION. Iii the event that the lots are separated hi the ftittire prior to
development constrUC6011, the Incentive Payinent ivotild only apply to LOT
2
1, BLOCK 2. OTS EGO WATERFRONT EAS"I'THIRD ADDITION, or
the future designation of that lot.
Dated:
ARROW COMPANIES, INC.
By:
Its
Dated:
MAIN STREET OTSE GO DEVELOPMENT, LLC
By:
Its
Dated:
CITY OF OTSEGO
Jessica Stockamp, Mayor
Tami Loff, City Clerk
3