HomeMy WebLinkAboutH1 MANDEVILLE FARM UPDATEMANDEVILLE FARM MANDEVILLE FARM UPDATEUPDATE0707--2424--0606
OVERVIEWOVERVIEWCURRENT STATUSCURRENT STATUSAMOUNT OF LAND CITY SHOULD AMOUNT OF LAND CITY SHOULD RETAINRETAINPROFORMAPROFORMACREATION OF A INDUSTRIAL TIFCREATION OF A INDUSTRIAL TIFPORT FEASIBILITYPORT FEASIBILITYDIRECTIVESDIRECTIVES
CURRENT STATUSCURRENT STATUSDISCUSSIONS WITH POTENTIAL END DISCUSSIONS WITH POTENTIAL END USERSUSERSSKETCH SITE PLANSKETCH SITE PLANSTATE LANDS DEVELOPMENT STATE LANDS DEVELOPMENT UNDERWAYUNDERWAY
SKETCH SITE PLANSKETCH SITE PLAN
STATE LANDSSTATE LANDSANNEXATION ANNEXATION PRELIMINARY PLATPRELIMINARY PLATEXTENDING WHEAT EXTENDING WHEAT DRIVE TO EDGE OF DRIVE TO EDGE OF PROPERTYPROPERTYCITY EASEMENT CITY EASEMENT CONSTRUCTION FALL CONSTRUCTION FALL 0606’’OR SPRING 07OR SPRING 07’’
CITY LAND NEEDSCITY LAND NEEDSSuperintendent of Facilities Superintendent of Facilities and Landsand LandsNeeds Assessment Jan 03Needs Assessment Jan 03’’City Shops City Shops Existing facilities 17 acresExisting facilities 17 acresDesired 20 acresDesired 20 acresFuture Transfer station? Future Transfer station? Proposed on 10 acresProposed on 10 acresIncluded area for shopsIncluded area for shopsEXISTING CITY SHOPS
CITY RETAINED LANDCITY RETAINED LANDTract 3A 17 acresTract 3A 17 acresTract 4A 7 acresTract 4A 7 acres
PROFORMAPROFORMABased on City infrastructure estimateBased on City infrastructure estimate
PROJECT COSTSPROJECT COSTSTOTAL COSTS $10MIL
SALES OF ALL LANDSSALES OF ALL LANDSTOTAL SALES $13 mil
SALE OF LAND w/ CITY HOLDSALE OF LAND w/ CITY HOLDSALES OF TRACT 1 & 2 $9 mil, ASSET HELD $4 mil
TAX INCREMENT FINANCING TAX INCREMENT FINANCING INDUSTRIAL DISTRICTINDUSTRIAL DISTRICT
INDUSTRIAL TIF (ITIF)INDUSTRIAL TIF (ITIF)City established resolution (#2862) in May 92City established resolution (#2862) in May 92’’Create district by ordinanceCreate district by ordinanceRequirements Requirements 11. Consists of a continuous area with accurately described bound. Consists of a continuous area with accurately described boundary;ary;2. is zoned for light of heavy industrial use in accordance wit2. is zoned for light of heavy industrial use in accordance with the area master h the area master planning document;planning document;3. does not include any property included within an existing ur3. does not include any property included within an existing urban renewal area;ban renewal area;4. is found to be deficient in infrastructure improvements for 4. is found to be deficient in infrastructure improvements for industrial industrial development; anddevelopment; and5. has as its purpose the development of infrastructure to enco5. has as its purpose the development of infrastructure to encourage the growth urage the growth and retention of secondary, value adding industries.and retention of secondary, value adding industries.
ITIF PROPOSED BOUNDARYITIF PROPOSED BOUNDARY
PROJECTED ITIF REVENUEPROJECTED ITIF REVENUETOTAL REVENUES PROJECTED OVER 15 YEARS $6mil
PORT FEASIBILITYPORT FEASIBILITYPORT OF ENTRYPORT OF ENTRYFEDERAL DESIGNATION PROVIDED FOR UNDER STATE LAWFEDERAL DESIGNATION PROVIDED FOR UNDER STATE LAWMINIMUM POPULATION OF 300,000MINIMUM POPULATION OF 300,000FOREIGN TRADE ZONEFOREIGN TRADE ZONEMUST FIRST BE A DESIGNATED PORT OF ENTRYMUST FIRST BE A DESIGNATED PORT OF ENTRYUSER FEE AIRPORT USER FEE AIRPORT CITY / AIRPORT QUALIFIES CITY / AIRPORT QUALIFIES COSTS ARE PAID BY CITYCOSTS ARE PAID BY CITYPORT AUTHORITYPORT AUTHORITYALLOWABLE UNDER STATE STATUTEALLOWABLE UNDER STATE STATUTEPROVIDES TAXING AUTHORITYPROVIDES TAXING AUTHORITY
DIRECTIVESDIRECTIVESProceed with subdivision planning & plattingProceed with subdivision planning & plattingPrepare RFP for servicesPrepare RFP for servicesDesignate industrial TIFDesignate industrial TIFDelineate boundaryDelineate boundaryDraft ordinanceDraft ordinanceSecure end users / salesSecure end users / salesEstablish development agreements Establish development agreements Proceed with infrastructure when appropriateProceed with infrastructure when appropriate