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
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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)
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