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09-11-12 Special HRA Workshop AGENDA Special Workshop Meeting of the Housing and Redevelopment Authority Golden Valley City Hall 7800 Golden Valley Road Council Conference Room September 11, 2012 6:30 pm Paqes 1. Roll Call 2. Public Improvements - Tiburon Project - 55 West Area 2-4 3. Adjournment ;� ...� _ '�h���ti�urnent�s:a�a���k�l,� irr alternat����r�nats upor��;72 h�aux��e��r�s�. ple�se�al�� ; � 7G3=5.93 ��1�6`�1T�; 76� 59�-39b�)`tta make a request. Examq{���alt�r����f�rr����w: m�y���lud���ar�e prin�,el����or�ic,Brail�e�audiocassette,etc. ; : } ; city of ����� � � � � � � � �,G�, �� Housing and Redevelopment Authority 763-593-8002/763-593-8109(fax) Executive Summary For Action Golden Valley Housing and Redevelopment Authority Special Workshop Meeting September 11, 2012 Agenda Item 2. Public Improvements-Tiburon Project- 55 West Area Prepared By Jeanne Andre, Assistant Director, Housing and Redevelopment Authority Summary The City Council has recently rezoned two parcels to allow the construction of a 142-unit apartment just west of Decatur Avenue North on TH 55. Staff has reviewed this project to identify public improvements appropriate to make this development a safe, walkable facility. The major concerns include the slip ramp off of TH 55, which creates a significant pedestrian hazard and the lack of sidewalks from this area to nearby commercial nodes. While some improvements could be assessed to the new development, it would be difficult to justify assessing the full scope of improvements needed. Staff has researched options and determined that a Tax Increment Financing (TIF) Renewal and Renovation District could be formed to provide the recommended public improvements. This type of TIF district is based on blight and obsolescence and can last up to 15 years. The process would involve a determination of blight, a public hearing and adoption of a renewal and renovation area and district at the HRA, referral to the Planning Commission, School District and County for comment, and a final public hearing and adoption by the City Council. If directed by the HRA, staff could initiate the steps necessary to bring a proposed TIF district to the HRA at its October meeting. Staff is recommending a TIF District that includes 6 parcels within a larger Renewal and Renovation Area. The six parcels include those along TH 55 from the Rapid Oil Change at Decatur Avenue North to the former bowling alley building. The recommended Renewal and Renovation Area extends from Boone Avenue North, along 7th Avenue (including parcels between TH 55 and 7th Avenue), and parcels on the north and south sides of Golden Valley Road west of Decatur Avenue North to 9326 Golden Valley Road. The larger Renewal and Renovation Area sets the area in which public improvements can occur. Attachments • Proposed 55 West Renewal & Renovation Area Map (1 page) • 55 West Estimated Market Value Per Sq. Ft. (1 page) N � � � � � � �` L• ° ` �. � Q = Q ■_ m ..� �r,. � � � o p � �. � � � �a � �" � 3 � °_ o � .� � � � � � �Q , � � 3 N �� o � o N �o � �+N :�,.,...,.. O ... .... � � � N G y 7 � � �j c O G� � _�' L � ha � � � acn=a o o ° ,-.�.�,:, �.. s� � __ ;�N�'.�,b �, , , �w�� ��,.. : �` .�.� o � � �;e;:.c� � . � . ;� m ;.,=an_ ,.; � �.� � . . S, . 'a .,e ■ . . . � I� h �' � Q' � � ' icr� . � R V ,�,. O � . . . � �;' � . I� 1� ..... �. ', � . . .. � , «� ,. , yt . 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