HomeMy WebLinkAbout04 21 2014 EDA Report 8A
4646 Dakota Street SE
Prior Lake, MN 55372
ECONOMIC DEVELOPMENT AUTHORITY AGENDA REPORT
MEETING DATE: April 21, 2014
AGENDA #: 8A
PREPARED BY: Casey McCabe, Community Development Specialist
AGENDA ITEM: DOWNTOWN REDEVELOPMENT PROJECT PROPOSAL
DISCUSSION: Introduction
The purpose of this agenda item is to hear from representatives of Copper Creek
Development who will discuss their proposed downtown redevelopment project,
which has direct impacts on downtown parking availability.
History
City staff updated the Downtown Area Parking Study in 2012. The parking occu-
pancy survey completed for the study indicated the downtown area parking de-
mand needs were currently being met; however, based on peak parking occu-
pancy results, the study did not support additional commercial development in the
downtown core without providing additional resident, employee and customer
parking.
Current Circumstances
City staff has had discussions with Copper Creek who is proposing to redevelop
an underutilized commercial property at the NW corner of the CH21/TH13 inter-
section. Copper Creek agrees with the findings of the 2012 Downtown Area Park-
ing Study which does not support additional commercial development in the down-
town core without providing additional (public) parking.
Conclusion
Although the Prior Lake Zoning Ordinance does not require properties in the TC,
Town Center Use District to provide off-street employee or customer parking the
developer feels off-street parking is necessary to support their project and the
types of tenants they plan to serve. The developer further feels there may be an
opportunity for the city to provide additional public parking as part of their redevel-
opment project.
ISSUES: This potential project provides a significant opportunity to create a higher and bet-
ter use at the downtown entrance near TH13 and CH21. A building, for example,
at a scale with exterior composition at a mix between Rock Creek and City Hall
would add aesthetics, important jobs and tax base to the community. All of this is
included in the 2014 EDA Business Plan.
The project may also stimulate further investments downtown by others. However,
it forces a hard look at how public parking needs to be added in this core area in
order to support that type of redevelopment project. The next agenda item (park-
ing) confirms that downtown parking challenges will be shortly at hand with the
reconstruction of this property. It is important to address the preparatory work
necessary to evaluate the cost, location, process and financial responsibility re-
quired to address this important downtown issue.
This concept has not received a review from either the planning commission or
city council. Staff believes that the developer would be happy to receive concep-
tual feedback from the EDA.
FINANCIAL Financial impact related to possible public financial incentives to support the rede-
IMPACT:
velopment project and/or the creation of additional parking spaces.
ALTERNATIVES: 1. Provide the developer with any comments the EDA may have with respect
to the proposed project.
2. Take no action and direct staff as appropriate.
RECOMMENDED Alternative 1.
MOTION:
2