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2013.03.19 EDA Work Session PacketAGENDA ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF CRYSTAL • WORK SESSION • TUESDAY, MARCH 19, 2013 IMMEDIATELY FOLLOWING THE SPECIAL EDA MEETING CRYSTAL CITY HALL CONFERENCE ROOM A Call to order 2. Roll call 3. Discuss alternatives for EDA -owned lot at 4720 Douglas Drive North * 4. Adjournment * Materials attached 03/13/13 G:\EDA\Hgendas\2013\03.19 ws.doex C EDA STAFF REPORT AL Discuss 4720 Douglas Dr FROM: John Sutter, City Planner/Assistant Community Development Director DEPARTMENT HEAD REVIEW: Patrick Peters, Community Development Director A1"'P DATE: March 13, 2013 TO: Anne Norris, Executive Director (for March 19, 2013 work session) SUBJECT: Discuss alternatives for EDA -owned lot at 4720 Douglas Drive North The EDA acquired and demolished 4720 Douglas in spring 2012. Throughout summer - fall 2012 the city used the lot for a field office for the Forest North (Phase 12) street reconstruction project. The street contractor removed the field office and hydroseeded the lot in late 2012. During the lead -up to the acquisition, the EDA discussed the possibility of adding the lot to the Crystal Community Center site to expand the parking lot. At that time the EDA expressed no interest that scenario. Because some circumstances have changed, the EDA may want to reconsider the parking lot idea before staff adds 4720 Douglas to the lot list for new home construction. Lights have been added to two of the Little League fields and this may draw more visitors and tournaments. Also, Gene Hackett indicates that there already are times when additional CCC parking would be beneficial; and Tom Mathisen indicates that it would be desirable to have an additional Douglas Drive access to the south parking lot. The addition of this lot to the CCC site would allow for 25-30 additional parking spaces plus the additional access. It should be noted that, even without 4720 Douglas, there is potential for the additional access plus additional parking elsewhere on the CCC site; therefore a broader discussion of CCC access and parking may be warranted. The estimated net expenditure for the lot sale is $17,374 (all EDA). The estimated expenditure for the parking lot/additional access option is $137,874 (EDA and city portions TBD). I have attached 2009 aerial photos showing 4720 Douglas and the whole CCC site, a very rough concept sketch of an expanded parking lot and new Douglas Drive access, and a cost comparison sheet. Prior to staff making the 4720 Douglas lot available for new home construction, EDA discussion of the CCC parking lot expansion scenario is requested. One option would be to hold off on making the lot available to builders until fall 2013, so we can evaluate any need for additional parking at CCC/Little League over the summer. PAGE 1 OF 1 Interactive Property 7 Maps/ Map Parcel i Map Scale: 1" = 50 ft. N 09-118-21-32-0005 A -T -B: Abstract ID: Print Date: 3/12/2013 Owner City Of Crystal Market $0 Name: Total: Parcel 4720 Douglas Dr N Tax $0.00 Address: Crystal, MN 55429 Total: (Payable: 2012) Property Residential Sale $31,198 Type: Price: This map is a compilation of data from various sources and is furnished "AS IS" with no Home- Non -Homestead Sale 03/2012 representation or warranty expressed or implied, including fitness of any particular stead: Date: purpose, merchantability, or the accuracy and completeness of the information shown. Parcel 0.26 acres Sale Area: 11,476 sq ft Code: COPYRIGHT © HENNEPIN COUNTY 2013 ---- - -- I sA Think Green! Interactive Map /!, Property 1.• r Q 09-118-21-32-0005 A -T -B: Abstract ""'" `-- ID: Print Date: 3/12/2013 Owner City Of Crystal Market $0 Name: Total• Parcel 4720 Douglas Dr N Address: Crystal, MN 55429 Property Residential Type: Home- Non -Homestead stead: Parcel 0.26 acres Area: 11,476 sq ft Tax $0.00 Total: (Payable: 2012) Sale $31,198 Price: Sale 03/2012 Date: Sale Code: This map is a compilation of data from various sources and is furnished "AS IS" with no representation or warranty expressed or implied, including fitness of any particular purpose, merchantability, or the accuracy and completeness of the information shown. COPYRIGHT © HENNEPIN COUNTY 2013 A Think Green! 4b M i /0' REDEVELOPMENT OF 4720 DOUGLAS DRIVE (Original Plan) Mar 2012 Estimate ACTUAL EXPENDITURES 11,520 sq ft lot area $31,198 $31,198 purchase price (March 2012) $15,500 $15,015 demolition (incl. asbestos abatement, well sealing, tree removals, etc.) $3,300 $4,218 survey, legal, title work, misc. soft costs $18,693 $15,943 delinquent property taxes; special assessments (city utilities, mowing, etc.) $3,749 ------------- -------------- contingency (10% of the items above except the purchase price) $72,440 $66,374 TOTAL EXPENDITURES $45,000 $49,000 ESTIMATED LOT SALE PROCEEDS ($50,000 lot price - $1,000 in closing costs) $27,440 $17,374 ESTIMATED NET EXPENDITURES FOR EDA LOT SALE OPTION CITY PURCHASE TO EXPAND CCC PARKING LOT Actual EDA expenditures for acquisition/demolition $66,374 Construction cost estimate (addl parking & new Dgls Dr access) $71,500 ---------------- TOTAL COMBINED CITY & EDA COSTS FOR CCC PARKING LOT OPTION $137,874 CITY VS. EDA COST SHARE SCENARIOS: LAND PRICE LAND PRICE ESTIMATED ESTIMATED POSSIBLE BASIS FOR PER -SQ -FT LAND PRICE PER SQ FT TOTAL TOTAL TOTAL CITY COST EDA COST EDA transfers land to City at no cost $0.00 $0 $71,500 $66,374 in same manner as the Cavanagh Park property 2012 sale of excess CR81 land for $1.00 $11,520 $83,020 $54,854 combination w/ adj. residential property City acquires land to expand Hagemeister Park $1.45 $16,716 $88,216 $49,658 (avg. cost of 5 acquisitions during the past 10 yrs.) Henn Co Assessor's EMV (land portion only) $2.59 $29,803 $101,303 $36,571 for the adjacent property (4716 Douglas Dr) 2012 lot sales - avg. for all 14 lots $3.19 $36,700 $108,200 $29,674 (incl. 5 NSP -Habitat lots) 2012 lot sales - avg. for 9 market -rate lot sales $5.25 $60,480 $131,980 $5,894 (excl. 5 NSP -Habitat lots) 2011 sale of excess CR81 land $5.82 $67,006 $138,506 -$632 to Crystal Medical Center 2013.03.12 lot sale vs CCC pkg lot exp 3/12/2013