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1984 01 26Minutes Chanhassen Housing and Redevelopment Authority Regular Meeting January 26, 1984 Call to Order Vice-Chairman Horn called the meeting to order at 7:35 p.m. Present were Commissioners Bohn, Swenson, Horn, and Robbins. Absent was Commissioner Whitehill. Executive Director Martin was also present, along with approximately forty (40) members of the general public. Downtown Redevelopment Project ProDosal: JLH Associates/Historical Development Corporation Jack Henning, Bill Howard, and Charles Adamson of JLH Associates pre- sented their proposal for redevelopment of the old Instant Web pro- perty in the Downtown Project Area. Frank Reese, project architect, was also present to explain the concept plan prepared by his firm. The developers proposed to renovate all but approximately 22,000 sq.ft.of the old Instant Web building and asked that the HRA deed them the land and building necessary for their project. Their proposal also included plans for 20,000 sq.ft, of new construction in the front (north) side of the building for local retail/convenience shops, and an optional supermarket containing 15,000 sq.ft. Total project cost was estimated by the developer to be $2,750,000. JLH Associates further asked that the HRA acquire land for and develop parking facilities to the south and west of the building, and to par- ticipate in financing the cost of public improvements required to serve the project. Henning presented a plan for the overall Downtown Core Area (dated Received 1/23/84) which included a large area within which JLH Associates was requesting site control and exclusive nego- tiation rights for the next 120 day period. He stated that site control was critical if they were to be successful in arranging for project financing. Henning also pointed out that development of the proposed Bowling Center hinged upon a firm commitment from the HRA by March 1, 1984. This deadline is critical due to the requirement of the prospective bowling center owners/operators that fall bowling leagues be announced during March to assure a profitable operation next fall once the center is open. Commissioner Horn felt that the JLH plan was generally consistent with the adopted Downtown Redevelopment Plan, and that JLH Associates should be given a 120 day period to negotiate a redevelopment agreement with the HRA and to arrange financing, since there were no other developers "beating down the door" to participate in the Downtown Project. Commissioner Swenson felt that the level of public financial assistance being requested by the developer was too much. chanhassen HRA Minutes January 26, 1984 Page 2 Bill Howard of JLH Associates reiterated the importance of site control prior to their seeking firm financing and tenant commitments. Robbins moved, seconded by Bohn, to grant exclusive negotiation rights to JLH Associates for a period of 120 days (January 26, '1984 to May 25, 1984) for that portion of the Downtown Redevelopment Project Core Area identified on the JLH Associates Downtown Redevelopment Project Proposal Plan (dated "Received January 23,.1984) as the JLH Associates "Site Control Area". All voted in favor and the motion carried. Downtown Pro~ect Market Study - Final Report Richard Sollie of James B. McComb & Associates presented their fin- dings and conclusions from the retail and office market study con- ducted by his firm for the Downtown Chanhassen trade area. The study identified a market potential for an estimated 20,000-25,000 sq.ft, of new convenience retail floor area by 1985, plus another 15,000-20,000 sq.ft, by 1990. Potential also exists for a 60,000-70,000 sq.ft. Specialty Center by 1985 which has a theme centered around Minnesota Artists and Artisans and Antique Shops. Finally, the study findings concluded that 20,000-30,000 sq.ft, of office space could be absorbed in the trade area by 1985, with the potential for an additional 50,000-75,000 sq.ft, of office space by 1990. Mr. Sollie also pointed out their recommendation that a street connec- tion be considered between West 79th Street and the western sector of the Ringroad. This connection would strengthen the Central Business District retailing function in their opinion. The Board directed the Executive Director to pursue the idea of a new roadway linking West 79th Street with the Ring Road. The Board took no action on the Market Study, but thanked Mr. Sollie for a well prepared study. Approval of Bills Robbins moved, seconded by Bohn, to approve the bills for January, 1984, as submitted. All voted in favor and the motion carried. Adjournment Bohn moved, seconded by Robbins, to adjourn the meeting at 9:30 p.m. All voted in favor and the motion carried.