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Elk Request for Action <br /> River <br /> To Item Number <br /> Economic Development Authority 6.4 <br /> Agenda Section Meeting Date Prepared by <br /> General Business September 15, 2014 Jeremy Barnhart, Deputy Director, COD <br /> Item Description Reviewed by <br /> Professional Service Bureau lot purchase <br /> Reviewed by <br /> Action Requested <br /> Receive information related to Professional Service Bureau's purchase of a portion of Northstar Business <br /> Park and provide direction regarding initial work on the property,including authorization to prepare <br /> plans and applications as the owners agent. <br /> Background/Discussion <br /> Since this spring, the city has been working with PSB to accommodate parking for their growing business. <br /> They have developed plans to purchase approximately 1.3 acres of Lot 1,Block 1, Northstar Business <br /> Park. This parcel will be joined with the existing PSB lot, and provide for approximately 111 parking <br /> spaces. This memo is intended to serve as an update, and seek direction regarding the sale of the <br /> property and authority to begin work. <br /> Ultimately, this lot (with the parking lot) will be attached to about 6 acres of Lot 1,Block 1,Northstar <br /> Business Park, to facilitate construction of a new building necessary to accommodate PSB growth. <br /> To facilitate this activity,a number of actions are necessary: <br /> 1. Selling the parcel. The EDA must approve selling the parcel to PSB. The price communicated is <br /> $2.00 per square foot. This is expected to occur formally on October 20th at the latest, though a special <br /> meeting may be considered. The Planning Commission must confirm the use of the property is <br /> consistent with the Comprehensive Plan, this is expected to occur on September 23rd. <br /> 2. Split the western 1.3 acres of Lot 1,Block 1,Northstar Business Park. This is done via the <br /> Administrative Lot split procedure, and is expected to occur at the October 6th City Council meeting. <br /> 3. Combine the western 1.3 acres with the PSB property, to allow the construction of the parking <br /> lot. <br /> 4. Approve the parking lot design,including access, drainage, lighting, and landscaping. This is done <br /> internally, as long as all of the requirements are met. <br /> P O W E H E O 8 Y <br /> Template Updated 4/14 NATURE <br />