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Commuinity Development Authority - MINUTES - 5/15/2006 CITY OF MUSKEGO Approved as corrected 10-17-06 COMMUNITY DEVELOPMENT AUTHORITY (CDA) Audio recording of meeting MINUTES is also available. Monday, May 15, 2006 Chairman Frank Waltz called the meeting of the Community Development Authority to order at 6:00 p.m. Those in attendance recited the Pledge of Allegiance. The meeting was posted in accordance with the Open Meeting Law. PRESENT: Commissioners Rob Glazier, Gail Miles, Frank Waltz, Ald. Nancy Salentine, Ald. Eric Schroeder (excused @ 6:50 p.m.) and Executive Director Jeff Muenkel. ABSENT: Commissioner Lidbury, Commissioner Link GUESTS: Mike Dilworth of Ener-Con Companies LLC, Philip L. Cosson of Ehlers & Associates, Inc., Ald. Borgman, Ald. Madden, Kathryn Kronquist of Maritime Savings Bank, David Krummel of The Albion Group (Maritime Developer). APPROVAL OF MINUTES Ald. Salentine moved to approve the minutes for the February 1, 2006 meeting. Commissioner Glazier seconded. Upon a voice vote, the motion carried. ELECTION OF OFFICERS Ald. Schroeder moved, Ald. Salentine seconded to elect Frank Waltz as chairperson, Suzi Link in abstence her absence as vice-chair person and Gail Miles as secretary. Upon a voice vote, the motion carried. OLD BUSINESS-- Review and Approval of Conceptual Plan and TID allowances for Parkland View Development to construct a 30-unit condominium and a 10,000 square foot retail center development located in Redevelopment District #2 (Tax Key Nos. 2198.991 & 2198.992 / Janesville Road) as part of the Janesville Road RFP. Executive Director Muenkel refreshed the committee on what transpired at the last meeting relative to the Parkland View Development concept plan. Since the last meeting, the developer went to the surrounding property owners to see if they would be interested in selling their property and they were not so the developer is ready to proceed with the initial planned project; however, they will set forth the plan so it would allow expansion if those parcels became available in the future. A memo from Mr. Philip Cosson of Ehlers highlighted an overview of the project:  The concept plan includes a 10,000 square foot retail center and a 30-unit condominium development;  The estimated development value of the retail and residential development is $6.3 million which is to be initiated in 2006 and completed in 2007;  A request from the developer for assistance from TID #8 in the amount of $350,000; and  Purchase of a parcel of land from the CDA for $150,000. Since the parcel current has a fair market value of $533,000, this constitutes additional assistance in the amount of $383,000. Mr. Cosson reviewed his analysis of the project. He provided three exhibits as follows: CDA Minutes May 15, 2006 - page 2  Exhibit A reflected the revenue that would be generated from the proposed project over the remaining life of the TID.  Exhibit B reflected the impact of the proposed development on the overall TID.  Exhibit C demonstrated the anticipated closeout of the TID would be 2013. The current project demonstrated closing out the TID one year earlier than forecasted previously. The development also shows that it will bring in substantial increment after constructed. More increment will be generated than what is needed to pay off the TIF, thus the development would strengthen the financial cash flow of the TID which would provide the CDA with additional increment that could be used to undertake additional projects or close out the TID earlier. Ald. Salentine moved to approve the concept presented by the developers and the TID allowances as outlined in the exhibits from Ehlers & Associates. Commissioner Glazier seconded. A lengthy discussion ensued upon Alderman Schroeder’s comment on the intent of the Common Council when they transferred the parcel to the CDA; was for the CDA to sell the property in the hope that it would be sold at the best price possible so the CDA would recoup as much money as possible to put into their CDA fund to self-sustain themselves from year to year, but also to use to bring other development into the city. Discussion ensued that the proposed development does still offer $150,000 to the CDA for future Economic Development activities in the CDA budget while also causing a 6.3 million dollar project to occur. The CDA felt that realizing the entire property value for the CDA budget would be great, however the Council would have to agree to borrow this difference from the TIF to the CDA. This would cause the TIF to have an extended life and may go against what they are trying to accomplish. The CDA agreed that they would except this extra money if the Council agreed, however their main goal is to at least get some benefit from selling the property while making the large development occur at the same time. Upon a voice vote, the motion carried unanimously. NEW BUSINESS Approval of a Certified Survey Map located in Redevelopment District #2 (Tax Key No. 2198.991 / Janesville Road) as part of the Janesville Road RFP. The CDA reviewed the certified survey map for the city-owned parcel that also took into account the parcel portion for the Janesville Road redevelopment project. This was part of the final approval for the Parkland View Development. Commissioner Glazier moved to accept the map. Commissioner Miles seconded. Upon a voice vote, the motion carried unanimously. Approval of a Building, Site and Operation Plan for Maritime Savings Bank located in Redevelopment District #2 (Tax Key No. 2199.999.002 / S74 W17095 Janesville Road / Current Burger King parcel). Ald. Schroeder moved to approve the building, site and operation plan for the Maritime Bank. Alderman Salentine seconded. Executive Director Muenkel reviewed the plan and the renderings with the CDA members. Maritime Bank would be relocating from the Piggly Wiggly site, taking the Burger King parcel in Redevelopment District #2 and TID #8. They would raze the property and build a new two-story bank in its place. It would have a courtyard in the front and parking in the back. The bank meets all the guidelines set forth in the Redevelopment District #2 Plan that governs the area. Planning Commission will be looking for any other recommendations the CDA may have regarding the proposal. (Ald. Schroeder departed.) The CDA agreed that the new proposal me meets the guidelines in the Redevelopment District #2 Plan and would be a new exciting architectural asset to the downtown complimenting the retail center to the west east that was approved by the CDA a few years months back. Discussion ensued regarding another bank being built in Muskego and not other types of businesses developing. Alderman Salentine reviewed that the bank is already located in Muskego and CDA Minutes May 15, 2006 - page 3 business demands that they simply rebuild to stay with the market. Ms. Kronquist of Maritime Bank advised that the bank business would be on the lower level and the upper level would be leased out with a large area for office space so other businesses can come to the downtown area. Executive Director Muenkel shared that banks are a stronghold for future development and most commercial real estate agents have noted to his office that the banks want to be in Muskego due to the high incomes and investment that is going on in the city. Upon a voice vote, the motion carried unanimously. PUBLIC INPUT—Mrs. Dunahee questioned the height of the Maritime Bank building. Executive Director Muenkel stated the main structure is approximately 26’ and the tower was a little higher meeting code. She also asked about the visual impact of the building in the neighborhood. Commissioner Glazier thought it would be good to see the side elevation in relation to the other buildings in the area. Executive Director Muenkel stated that the visual impact would be improved as the structure utilizes four-sided architecture with a variety of quality materials. Also, the building will eliminate rooftop mechanicals from being evident as the structure is taller and of a different use than the existing restaurant. MISCELLANEOUS BUSINESS AS AUTHORIZED BY LAW TID policy update Executive Director Muenkel shared that he has received copies of policies from other communities. He is working on a draft of guidelines and it should be available at the next meeting. He also would forward it on to the Common Council for their input. CDA members had a lengthy discussion on the relationship with the Common Council when they are developing a tool for the CDA to use as a guideline. The next meeting date to be determined. ADJOURNMENT: There being no further business, Commissioner Glazier moved for adjournment, seconded by Ald. Salentine. Upon a voice vote, the motion carried unanimously. Meeting adjourned at 7:19 p.m. Stella Dunahee, CPS Recording Secretary