01-03-2022 HRA MIN - Laserfiche WebLink

Home Browse Search

Housing and Redevelopment Minutes Page 2 January 3, 2022 6. Public Hearings There were no public hearings. 7.1 TIF District Number 28 — Jackson Hills II Mr. O'Neil presented the staff report. Chair Toth asked for clarification about the size of the peat bog in relation to the proposed project and the TIF boundaries. Mr. O'Neil clarified the location of the project outlined in red was the size of the plat for the parcel. He indicated TIF boundaries are aligned to the parameters of the plat. The parcel is a 4-acre site and noted the request for TIF fund are for the first apartment building to be constructed on the southern third of the parcel. He also explained the TIF plan will set parameters for how many and what buildings are allowed to receive funds. He explained the parcel is 4 acres and will be parallel to the existing Jackson Square building. Mikaela Huot, director at BakerTilly, detailed the project and her review of it. She explained the parameters of the project and clarified the exact boundaries of the first building have not been submitted by the applicant. Therefore, to avoid repla.ting, they are proceeding this way. Based on this current site, if the applicant develops future phases, they would be included within the tax increment district, they will generate additional increment, and that increment would require a new application and review to show the extraordinary costs could be reimbursed. Future phases would require a new public hearing and approval as it this plan capped by the dollar amount associated with the present phase. Ms. Huot further explained details regarding the initial application and a change from the application doing further due diligence regarding soil correction costs, which were initially estimated up to $850,000. She stated the soil correction costs are now estimated at just over $1,000,000 dollars. Commissioner Chuba stated he understood there could be future development on the site, but he hoped access to the future site from the proposed site as he couldn't imagine access off of Jackson Avenue. Commissioner Chuba asked if something should be more solidified with a condition regarding access to the site. He also asked about the remainder of the site and what the zoning is and what would be allowed on the site. He asked if they would be paying park dedication fees. Mr. O'Neil stated the developer currently has control over the site and all future movement would be through 6`' Street and take place through the site with engineering staff reviewing and signing off on any additional access points on Jackson Avenue. Additional terms and conditions regarding these details could be part of the final agreement. He stated future buildings on the site would need to be residential properties and the property reviewed for compliance with the zoning ordinance subject to final design. Park dedication fees would be required to the city.