ITEM 2 Great River Centre 3rd AdditionOutlot A, Great River Centre 3rd Addition
P & F Machining
August 31 Discussion Points
1. Acquire lot from Wright County/State
a. City resolution adopted and delivered to Wright County
b. Wright County action on September 1 Board meeting
c. State transfer initiated by County
2. Split lot into three buildable lots
a. Lot 1: +/-6.2 acres to P & F Machining— lot conveyed 2015
b. Lot 2: +/-3.6 acres P & F Machining bay building for lease —
i. offer a first right of refusal to P & F for X years
ii. convey to P & F with reverter clause if minimum development doesn't occur
within X years
c. Lot 3: +/-2.4 acres held by City for future development
d. ROW: +/-1.78 acres
3. Quaday Avenue improvements
a. Apply for DEED grant to fund 50% (max of $250,000 with exceptions granted by DEED
for higher amounts)
b. Begin 429 process to assess project balance after DEED grant proceeds to benefitting
property owners
i. Two parcels on west side
1. Assessments deferred until developed (?)
ii. Three lots (replatted Outlot A) on east side
iii. City cash flows project until lots are developed and assessments received
iv. Assessment on City lot would be paid through tax levy or by developer at time
of development. Assessment amount already paid could be passed on to future
developer as land cost to reimburse City.
4. CR 42 Assessments
a. Create TIF District to pay past due and future assessments
i. Could be Lot 1 or Lots 1 and 2 depending upon development date of Lot 2
ii. Minimum assessment and minimum occupancy duration agreements required
iii. Rough estimate based on preliminary building value is around a 5 year TIF term
5. Other
a. SAC and WAC paid by developer
i. Assess per City policy if requested by developer
b. Typical zoning and building permit fees paid by developer
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Beacon Wright County, MN
Date created:8/31/2015
Last Data Upload: 8/31/2015 7:30:40 AM
Developed by
Schneider The Schneider Corporation
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