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City Council Minutes February 18, 2025 --------- Page 6 of 7 doesn't give park dedication credit for areas with water issues. He noted this is being dubbed a showcase development, and feels the city should also include a showcase park with river views, noting the lower area, while very nice, does not have any views of the river. Steve Bona, Vice President of Land for Capstone, Inc., at 14015 Sunfish Lake Blvd, Ramsey, expressed concerns about completing a major overhaul of his development plan and touched upon the following items: ▪They can meet the development street standards. ▪He stated they are installing 40-footwide lots in many other communities, but for Elk River they chose to propose 50-foot lots because the community is located further out from the metro area. He encouraged the Council to reach out to these other communities for feedback and tours. He stated they need a more affordable product because single-family homes are too expensive, noting a typical one goes for $500,000. These entry homes as proposed would sell for approximately $370-430,000. He further stated they need to survive market changes while homes are being constructed over the years. He stated this product is more stable because it is not tied to homeowner association fees and the high insurance associated with them. He noted added association fees are a barrier for homeowners. He stated this is a product for the working force, which many other communities are asking for. ▪Their original intent was to have the park land be a private amenity for the development, but the city indicated interest in having it. Keeping the park private adds value to the homes for them. The lower field is not buildable but also not worthless because of the river shoreline. He stated putting the park in another area would remove 24–30 homes. He stated if they kept the land private, then they'd be interested in paying park dedication fees for the whole development. Mr. Bona asked the Council for feedback on various scenarios with a private park, park dedication fees, removal of the linear park, and trail connections. The mayor stated the Parks and Recreation Commission should review it further if their plans change. Mr. Bona asked for feedback about the lot widths. The Mayor stated there could be a compromise to reduce the density of the smaller lots. The Council asked the developer to pass along information about where their other developments are located so they could review the lot widths. Moved by Councilmember Grupa and seconded by Councilmember Calva to continue the hearing to March 17, 2025. Motion Carried 4-0. 8.GENERAL BUSINESS 8.1 Ace 360 Acceleration The staff report was presented. Moved by Councilmember Beyer and seconded by Councilmember Calva to approve the service agreement with Marco for ACE 365 Acceleration. Motion Carried 4-0. 8.2 Advisory Board Appointments Page 9 of 117