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Cit�r Council Minutes <br />February 22, 2022 <br />Page 8 <br />parking demand, which would help manage pYoject costs and leaves more of the site <br />green if the demand isn't realized. He fuYther discussed other aspects of the concept, <br />noting a certain number of units could be live/�vorkspace; `vherebyT a person could <br />live in the unit and run a small business. He stated the building is geared toward larger <br />units, which people tend to stay in longer. He stated people are choosing rental as a <br />lifestyTle and want additional space, likelyT due to covid/work from home. He further <br />reviewed the architecture, elevations, and renderings. <br />1��. Mullins discussed market fundamentals, rents, low vacanc�r rate, maYket trends <br />compaYed to the metro area, and infill development pros and cons. He discussed <br />building and financial challenges and their 20-�Tear tax increment financing request. <br />Mayor Dietz asked staff their comfoYt level with the parking per unit at 2.11. 1VLr. <br />Carlton stated theYe has been historyr of reducing parking with some success, but it all <br />depends on the project details with the number of bedrooms and the <br />retail/commeYcial uses. He stated on-street parking is not pYacticable in this location. <br />Councilmember BeyTer expressed concerns with the proof of parking being the <br />privately owned paYcel adjacent to the pYoject. <br />CouncilmembeY Westgaard stated he likes the project and the miYed uses and would <br />suppoYt a maYque pYoject with higher quality materials that can also attract additional <br />quality development but questioned the need to do tax increment for housing. <br />Mayor Dietz stated there is hesitanc�r of the Council to use tax incYement and asked if <br />it is worthwhile to have the developer go through the application process. Mr. O'Neil <br />stated yes, and the developer was looking for feedback on options if costs increase for <br />the pYoject. <br />Councilmember �X�agner stated there ma�� have been talk of the Housing and <br />Redevelopment Authority (HRA) regarding site acquisition costs and the use of tax <br />incYement and asked for clarification on how the HRA would be involved. <br />Councilmember ��estgaard agreed noting this started as an HRr� initiative. He <br />suggested sending it back to the HRA directing them to get creative and think about <br />how the�J'd like to fund this in their plan to redevelop this corridor. He stated he <br />would like to see the project cointinue forward. <br />Mayor Dietz suggested a review of the housing studyT in relation to tax increment. <br />The Council is open to the project and diYected work back to the HRA. <br />9.2 Consider Memorial Day Parade as City Event <br />MayTor Dietz asked Council if the Memorial DayT parade can be a cityT-sponsored event <br />and if theyT would provide barricades and police support He said he can have <br />volunteers do the other event tasks. <br />rowEREo ar <br />���V�� <br />