CR 05-091 Livable communities application
CITY OF
m
July 8, 2005
HOPKINS
Council Report 2005-091
LIVABLE COMMUNITIES DEMONSTRATION ACCOUNT APPLlCATION-
MARKETPLACE & MAIN
Proposed Action
Staff recommends adoption of the following motion: Move to approve Resolution No.
2005-060 identifvinq the need for Livable Communities Demonstration Account fundinq
and authorizinq an application for qrant funds.
With this motion the resolution will be forwarded to the Metropolitan Council.
Overview
As a participating city in the Metropolitan Livable Communities Program, the City of
Hopkins is eligible to apply for funds through the Livable Communities Demonstration
Account. Demonstration Account funds are designed to fund models for Smart Growth.
The funding is an incentive to demonstrate new forms of development that make better
use of land and services already in place and forge a stronger relationship between land
use and transportation.
The Cornerstone Group has requested the City apply for $1 ,300,000 in funds for the
Marketplace & Main redevelopment project. LCDA funds will help the project overcome
the obstacles of the site constraints - the angular shape and HCRRA setbacks - as well
as other design factors that affect the overall financial viability of the project.
Primary Issues to Consider
If awarded, the grant funds would assure that this redevelopment project will go forward
as proposed. There are no required matching dollars for this grant program. The grant
application has been submitted, but if this action is not approved by the City Council the
application will be withdrawn.
SupportinQ Information
Financial Impact: $_0 Budgeted: Y/N
Related Documents (CIP, ERP, etc.):
Notes:
Source:
CITY OF HOPKINS
HENNEPIN COUNTY, MINNESOTA
RESOLUTION NO. 2005-060
RESOLUTION IDENTIFYING THE NEED FOR
LIVABLE COMMUNITIES DEMONSTRATION ACCOUNT FUNDING AND
AUTHORIZING AN APPLICATION FOR GRANT FUNDS
WHEREAS the City of Hopkins is a participant in the Livable Communities Act's
Housing Incentives Program for 2005 as determined by the Metropolitan Council, and is
therefore eligible to apply for Livable Communities Demonstration Account funds; and
WHEREAS the City has identified a proposed project within the City that meets the
Demonstration Account's purposes and criteria and is consistent with and promotes the
purposes of the Metropolitan Livable Communities Act and the policies of the
Metropolitan Council's adopted metropolitan development guide; and
WHEREAS the City has the institutional, managerial and financial capability to ensure
adequate project administration; and
WHEREAS the City certifies that it will comply with all applicable laws and regulations
as stated in the grant agreement; and
WHEREAS the City agrees to act as legal sponsor for the project contained in the grant
application submitted on June 30, 2005; and
WHEREAS the City acknowledges Livable Communities Demonstration Account grants
are intended to fund projects or project components that can serve as models,
examples or prototypes for development or redevelopment projects elsewhere in the
region, and therefore represents that the proposed project or key components of the
proposed project can be replicated in other metropolitan-area communities; and
WHEREAS only a limited amount of grant funding is available through the Metropolitan
Council's Livable Communities Demonstration Account during each funding cycle and
the Metropolitan Council has determined it is appropriate to allocate those scarce grant
funds only to eligible projects that would not occur "but for" the availability of
Demonstration Account grant funding.
NOW THEREFORE BE IT RESOLVED that, after appropriate examination and due
consideration, the governing body of the City:
1. Finds that it is in the best interests of the City's development goals and priorities
for the proposed project to occur at this particular time.
2. Finds that the project component(s) for which Livable Communities
Demonstration Account funding is sought:
(a) will not occur solely through private or other public investment within the
reasonably foreseeable future; and
(b) will not occur within two years after a grant award unless Livable Communities
Demonstration Account funding is made available for this project at this time.
3. Authorizes its Mayor and City Manager to submit on behalf of the City an
application for Metropolitan Council Livable Communities Demonstration Account
grant funds for the project component(s) identified in the application, and to execute
such agreements as may be necessary to implement the project on behalf of the
City.
Adopted this 19th day of July, 2005.
By
Eugene J. Maxwell, Mayor
Attest:
Terry Obermaier, City Clerk.
Office Use
LIVABLE COMMUNITIES DEMONSTRATION ACCOUNT
DEVELOPMENT GRANT APPLICATION FORM 2005
Instructions: Submit form and attachments by 4:30 p.m. on June 30, 2005: Use font size 11. Use ofbulleted lists
is encouraged. Do not attach a coversheet or use any graphic images on top of the application. Limit application
to 17 pages plus attachments, for a total of no more than 25 pages. Strictly follow the format or the
application will be returned for revision.
Pro'ect Information:
Project Name:
Applicant (city or county):
Project Location (city):
Address (street boundaries or
Major intersection):
Primary Project Contact:
Name:
Title:
Address:
Phone:
Fax:
E-mail:
Name:
Title:
Authorized city or county
official for contract
execution
Marketplace & Main
City of Hopkins
Hopkins
Mainstreet between 6th and 8th A vennes
Kersten Elverum
Housin & Develo ment Coordinator
1010 First Street South Ho
952/548-6343
952/935-1834
kelverum ho kinsmn.com
Eugene J. Maxwell
Mayor
Project Summary
Summarize goals and components for the project or current phase. If the project has more than one phase,
address project goals for the current phase in this section, as well as more broadly, if desired. Include details on
other phase( s) on page 3, in B.2.
Limit 20 lines
The overall goal of Marketplace & Main is to continue to build on the success of the previously LCDA funded
Marketplace Lofts across the street by acquiring, demolishing and redeveloping an under-utilized and blighted
block of properties in the central business district, creating a friendly, walkable and liveable community.
The project will bring diversity and economic benefit to the surrounding neighborhoods and to the CBD of
Mainstreet:
- mixed-use, multifamily project
- 60 housing units (51 condominiums; 9 town homes)
- 6,000 square feet of retail along Mainstreet.
- increase the housing options near transit and employment
- create vibrancy and density within the entertairunent and retail services district along Mainstreet.
The urban facades will "wrap" the building to create design continuity up 6th, 7th and 8th Streets toward the less
dense neighborhood to the north. In addition, the north face of the building will have units opening onto the
Hennepin County Regional Rail Authority (HCRRA) corridor where either future LRT routes may be planned or
a future extension of the trailhead (currently terminating at 8th). A 15 ft setback along the HCRRA corridor
allows for greenspace and raingarden planning to both beautify the site and increase potential runoff retention.
The project will serve as a model for mixed-use redevelopment activities on Mainstreet, in Hopkins and in
established commercial centers throughout the region. The project will help anchor the CBD by creating a
"bookend" for the east end of Mainstreet.
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B. Additional Project Information (limitollepage)
1. In this section, provide additional project details you did not have space to include in the
"Project Summary" on page 1, and any pertinent information on the history of the site.
Limit 20 lines
The site currently is occupied by Hopkins Honda Body Shop and Hopkins Honda Used Car Sales. Both of these
businesses will be moving to a new location on Excelsior Boulevard in September of2005. The City has
completed a rezoning of the property to a PUD allowing for a mixed-use (housing/commercial) development.
The goal of the PUD zoning is to help revitalize the north side of Mainstreet just as Marketplace Lofts has done
on the south site. This particular tract of land has been difficult to redevelop because of its angular shape and the
adjacent HCRRA corridor. Marketplace and Main will maximize the viability of the site.
The site is located on Mainstreet in the heart of the downtown. It is directly across from Marketplace Lofts, the
first mixed-use development by The Cornerstone and recipient of LCDA funds in 2002. The project also
received the Smart Growth Award in 2004 for Best Mixed Use Development and was a finalist for the Business
Journals Best in Real Estate Awards in 2004. The site is also adjacent to the Hopkins Village Apartments
(affordable senior housing) and additional retail. A full-range of services are available within walking distance
from the proposed development including dining, entertainment, a grocery store, phannacy, clinic, library, post
office and City-owned arts facility. The site is also on a major bus line and regional trail.
and include details of hases. (Limit 20 lines)
3
3. Benefits of LCDA funding. Address all that apply of the following: How will LCDA funding
overcome obstacles, provide a catalyst, or increase the value of the project to the community?
(Limit 20 lines)
LCDA funds will help the project overcome the obstacles ofthe site constraints - the angular shape and HCRRA
setbacks have made the site difficult to design and construct. LCDA funds for acquisition and underground
parking will be beneficial in filling the financial gap for the project. Without securing additional funds, the
project will not be able to proceed.
LCDA funds will also serve as a catalyst for smart design. The project, as proposed meets the City of Hopkins
Design Guidelines and Standards for historic downtown Hopkins. If the LCDA funds were not granted, the
architectural design of the project would need to be modified. It is not known if a modified building design
would be acceptable to the City or the developer. LCDA funds will ensure that the site is redeveloped as
envisioned by community leaders. Without the funds, the site is at risk of remaining vacant which certainly
would decrease the value to the community, detract from the aesthetic appeal of the Mainstreet area and have a
negative impact on the rebounding commercial district.
4. "But-For" Test Assessment. Describe the unfilled gap needs that can only be filled by an LCDA
grant awarded in 2005. Describe why this project or funded components could not occur within two
years of the grant award.
(Limit 20 lines)
Marketplace and Main is an excellent example of the "But For" Test. The financial feasibility of the project is
solely dependent on securing additional funds to make the project possible. While other funding sources are
being pursued privately, a significant public source will still be needed. The identified uses of the funds would
not be possible without the LCDA grant. The density of the downtown Hopkins market requires the use of
underground parking, an expensive but necessary cost to the project. The architectural elements - design,
greenspace, the rain garden and sitework are necessary for homeownership. While homeowners will enjoy the
activities on Mainstreet, our design must also be appealing for the peaceful enjoyment of one's surroundings and
be sensitive to the adjacent homes nearby.
The site will be vacated by the existing user in fall of 2005 and the City of Hopkins is anxious to have
development proceed as soon as possible. Vacant land will hurt the downtown viability and therefore, the funds
will also help the project begin construction still in 2005.
4
5. Regulatory Status: Mark (X) whether the following will be needed, is underway or is completed, or
ifnot applicable, place 'NA' in the box. Briefly provide additional information as noted.
Will be
Needed
Underwav Completed
NA
Comprehensive plan amendment. If needed, please describe:
x
Environmental Reviews - EA W, EIS, AUAR Ifneeded, please describe:
x
Zoning changes and variances. If needed, please list and include change
to/from:
5
- -- -- -- --
C. Evaluation Criteria (Begin new page)
Proposals will be evaluated on the extent to which they will be replicable demonstrations of the
criteria in c.t through c.s.
1. Uses Land Efficiently
Developed Communities or Locations Developine: Communities or Locations
Achieves this objective in ways such as: Achieves this objective in ways such as:
. Makes cost-effective use of infrastructure and increases density. . Converts or reuses declining or underutilized lands to
. Converts or reuses declining or underutilized lands to accommodate growth forecasts, ensure efficient utilization
accommodate growth forecasts, ensure efficient utilization of of infrastructure investments, and meet community needs.
I existing infrastructure investments and meet community needs. . Includes land use patterns that will facilitate groundwater
I
I recharge to protect the region's water SUDPly
a. Describe how the project uses land efficiently, in the ways listed above, or in other ways.
Limit 10 lines
. Makes cost-effective use of infrastructure and increases density - currently the site is 60% pavement and
40% one-story commercial structures. The redevelopment will increase building coverage to over 90%;
and up to four stories.
. Reuses underutilized land creating additional housing in the downtown which supports the commercial
viability of Mainstreet
. Increases the tax base of a fully-developed city
. Meets the community need of owner-occupied condominiums and townhomes within the downtown
b. Proposed land use changes: Mark (X) appropriate box
Ves No
X Will buildings be rehabilitated or adapted for reuse? If yes, briefly describe:
X Will buildings be demolished? If yes, indicate the number of and type of buildings:
One storv commercial building - car lot offices. show room and bodv shop.
X Will new buildings be constructed? If yes, list the percent mix of commercial, residential, public
or other uses:
15% Commercial - Public
85% Residential - Other Uses - list:
X Will new streets or other infrastructure be added?
X Will any park land be converted? Briefly describe:
6
2. Develops land uses linked to the local and regional transportation system.
Develoned Communities or Locations
Achieves this objective in ways such as:
. Includes land use patterns that support transit service and
development.
. Includes local transportation, transit, pedestrian and bicycle
investments to improve connections between workplaces,
residences, retail, services and/or entertainment activities.
DeveloDin~ Communities or Locations
Achieves this objective in ways such as:
. Supports the transportation needs of the planned build-out
of the community.
. Improves transportation connections and
addresses/incorporates commuting issues such as park and
rides, express bus service.
. Includes land use patterns to support transit development
and service exoansion.
a. Describe how the project will connect land use to the local or regional transportation system, in the ways
listed above, or in other ways.
Limit 10 lines
The site is located on a Metro Transit bus route with a stop already at the site. The site is also bordered to the
north by the HCRRA land which can be converted to a bike path connector corridor. The path is already used
for that purpose but it is not clearly marked or defmed - creating confusion for bikers on the regional path once
they cross Mainstreet.
This site is a great example ofIand use that supports transit development and service expansion. The pedestrian
connections at this location include access to workplaces, retail, restaurants, educational and cultural
opportunities, services and entertainment.
b. Describe any new sidewalks, trails, or bike paths, or improvements to existing pedestrian infrastructure
planned to link to transit.
Limit 8 lines
The HCRRA boundaries will be improved with landscape features and a landscaped buffer that will more clearly
identifY the site. It currently is designed as an asphalt parking area making it difficult for bikers to discern where
the path is located.
New sidewalks will also be constructed so that pedestrians will be able to circulate the site and Mainstreet from
all directions.
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-- ----- -------- - ---- -
3. Connects housing and centers of employment, education, retail and
recreational uses.
Developed Communities or Locations Develooiof! Communities or Locations
Achieves this objective in ways such as: Achieves this objective in ways such as:
. Provides infill development. redevelopment, and adaptive reuse of . Builds connections between workplaces, residences~ retail,
structures to connect housing and jobs, and integrates new services and/or entertainment activities.
development into existing n~ighborhoods.
a. Connections: Describe how the project will connect housing and centers of employment, education, retail
and recreation uses, in the ways listed above or in other ways.
Limit 8 lines
Redevelops a site currently occupied by a low intensity single use into a high-density development providing new
employment and housing opportunities in an existing employment, retail and recreation center. It is estimated that
there are more than 5,000 jobs within one mile of the project site. Within the four square miles that comprise
Hopkins, there are over 20,000 jobs in a variety of sectors. The project will integrate well into the existing
neighborhood by anchoring the north side of Mainstreet with a development similar in size and scope to
Marketplace Lofts. The addition of the townhomes right on Mainstreet will create a pattern of retail and housing
uses that are so critical to a successful urban environment.
I b.
Ves No Mark (X) appropriate box
X Will new pedestrian infrastructure be added? If yes, check type:
~ Sidewalks
_ Bike paths
- Trails
X Will existing pedestrian infrastructure be improved? If yes, check type:
- Sidewalks
-2l. Bike paths
-2l. Trails
How will the additions or improvements provide or improve connections within the site or with adjacent
neighborhoods?
The Cornerstone Group intends to work with the appropriate agencies to improve the HCRRA property
extending to the north of this property.
c.
Ves No Mark (X) appropriate box
X Will new streets be constructed?
If yes, how will they enable connections within the site or to adjacent neighborhoods?
I
!
8
d. Mix and Type of Uses: List the number and types of existing or planned uses for the project site.
Number of Square Number of Square Mark (X) if planned uses are new
Type of Use Existing Footage or Planned Footage or construction, rehab/renovation or
Uses Acreaee Uses Acreae.e adaptive reuse
Rehab/ Adaptive
New Renovation Reuse
Commercial I c. 28,000 sf 0 0
Retail 0 0 4 c. 5000 sf X
Restaurant 0 0 I c. 1000 sf X
Office I c. 5,000 sf 0 0
Govemment/Civic 0 0 0 0
Arts/Cultural 0 0 0 0
Entertainment 0 0 0 0
Open Space/Public 0 0 I c. 5,000 sf
Space
Other (list) 0 0 60 d.u./51 114,000 sf X
Housing condo; 9
townhomes
e. Employment proximity: Estimate the number of jobs within 2 miles of the project site and list major
employers.
Number of Jobs
Mark (X)
appropriate Major employers within 2 miles
number ran e
More than 5,000
3,000-5,000
1,000-3,000
500-1,000
Less than 500
x Su ervalu
X NAPCO; Alliant Techs stems
f. Creation of new jobs:
Yes No
X
Number
8
16
I
Maffi(X)appropri~ebox
Will this ro' ect create an
Retail FTE
Retail PTE
Residential Care Taker FTE
9
4. Develop a range of housing densities, types and costs.
Develo ed Communities or Locations
Achieves this objective in ways such as:
. Integrates new housing into existing neighborhoods.
Develo in Communities or Locations
Achieves this objective in ways such as:
. Includes housing planned to take into account population
forecasts, existing housing stock, current and future
communi needs.
a. Describe how the project provides a range of housing densities, types and costs, in the ways listed above,
or in other ways.
Limit 10 lines
Marketplace and Main will provide a wide array of housing styles, types and prices. The condominiums will
range from 750 square feet to over 1,600 square feet and be priced from the affordable $180,OOO's to the mid
$300,OOO's. The 9 townhomes will be over 2,000 square feet and provide a unmet housing need in downtown
Hopkins - larger, more upscale homeownership opportunities for long time residents and families.
The townhomes will be "brownstone style" with large front and back porches, two bedroom plus den, open
floor plans and a two car attached garage. Prices will range from $475,000 - $525,000. This variety of housing
(single level, multi-level, small and large units) will help Hopkins serve many household types - singles, empty
nesters, first-time homebuyers and families.
b. Type and Tenure of Housing: List the number of housing units by type and tenure (owner/renter)
currently in the project site area (corresponding to the site plan, Attachment #3) and planned.
Distingnishing Features:
Total # of # Units # Units (# of stories,
Units Owner Rental architectural desi!!n)
Existin!! Housin!!:
Single-family 0 0 0 NA
Townhouse 0 0 0 NA
Apartments or Condominiums 0 0 0 NA
Duplexes 0 0 0 NA
Other (list): 0 0 0 NA
Planned Housin!!:
Sin!!le-familv 0 0 0
Townhouse 9 9 0 2.5 stories; brick
Apartments or Condominiums 5 J( condos) 51 (condos) 0 4 stories; brick
Duplexes 0 0 0
Other (list): 60 60 0
Planned overall densi
60d.u.lacre
10
d. Housing Affordability: List estimated affordability levels for existing and planned housing in the
following format: (Area median income - $76,700)
Number ofUuits up
to 50% of Area
Median Income
Number of Units at
50-80% of Area
Median Income
Number of
Units at
Market Rate
o
60
Current/Proposed
Price Ranges of
Market Rate Units
o
$180,000 thru $525,000
o
o
o
o
Yes Mark (X) appropriate box
Are there mechanisms to ensure Ion
Mark X an that a I
Land trust
Resale rice indexin
Other (describe):
The site is surrounded by affordable rental housing, including public housing.. The City also has a large
supply of affordable condominiums and single family homes. The City of Hopkins is supporting this
project to diversify the types of housing available in the downtown.
11
5) Abates, prevents or removes point and non-point source pollution, and
maximizes groundwater recharge through surface water infIltration.
Develo ed Communities or Locations
Achieves this objective in ways such as:
. Protects and restores natural resources where feasible and
appropriate.
. Controls and treats stonnwater, as feasible and appropriate.
Develo in Communities or Locations
Achieves this objective in ways such as:
. Abates, prevents or removes point and nonpoint source
pollution; reduces soil erosion; protects or improves water
quality; maximizes groundwater recharge through surface
water infiltration, as feasible and a fO nate.
a. Describe how the project will reduce volume and pollutant content of point and non-point source runoff
from the site when compared with existing site uses, or maximize groundwater recharge through surface
water infiltration, in the ways listed above or in other ways.
Limit 10 lines
Based on the results of our consultant's studies, it is recommended that that a Voluntary Response Action Plan
(VRAP) be prepared and submitted to the MPCA, VIC Program and the Petroleum Brownfields Programs for
review and approval. The VRAP will address the removal and offsite disposal of the ash/glass/debris fill
material and the Diesel Range Organics and other impacted fill material located on the 6 I I Main Street parcel
and the removal and off site disposal or on-site reuse (under buildings or pavement) of the DRO impacted soil.
An Environmental Contingency Plan will address any unexpected environmental conditions during the RAs
and the planned redevelopment activities. Results indicated that groundwater has not been impacted. Runoff
will be controlled through the use of roof drains and raingardens (along HCRRA corridor) as well as additional
new green space not currently existent on site.
b.
Ves
X
No Mark (X) appropriate box
Does the ro"ect consider the site's relationshi
If yes, please describe.
The project is located along an abandoned HCRRA corridor whose trailhead starts at 8th Street
just north of Main street in Hopkins. Plans include greening the setback along the underused
corridor in the hopes of future transit or pedestrian improvements. The site will preserve open
s ace throu h the use of an urban arden on the east end of the ro e
12
c. Describe specific runoff water quality improvement techniques, extent of use, and any community
amenity benefits for marked items.
Yes Mark (X) appropriate box
X Connects to the existin
If yes, please describe:
Provides conventional project-specific runoff treatment facilities; e.g. retention basins, detention
basins, infiltration basins.
If yes, please describe:
X Incorporates project-specific Low Impact Development (LID) runoff reduction measures: e.g.
orous avers, rain ardens, reen roofs.
If yes, please describe:
Raingardens along the HCRRA corridor setback will reduce runoff through natural filtration.
Provides constructed or restored natural methods of runoff treatment: e.g. restoration of buried
creeks, wetlands, bio-infiltration areas.
If yes, please describe:
X Provides een s aces for increased infiltration, recreation and scenic value.
If yes, please describe:
An urban garden will be located along the east end of the site, as well as additional greening along pedestrian
areas.
X Other ( describe):
13
6. Tools and Processes to Ensure Successful Outcomes (Begin new page)
All Communities
. Appropriate and effective regulatory tools, such as zoning codes, design standards, development standards
. Partnershi s amon ovemment, rivate for- rofit and non rofit sectors.
a. City review/regulatory process: Describe city review or regulatory processes or procedures used or
developed for this project, such as zoning codes, design standards, or development standards.
limit 6lines
The project will utilize a Planned Unit Development zoning overlying a B-3 zoning classification. The
overlay zoning was put in place to guide the redevelopment of these two sites into the uses proposed by
The Cornerstone Group. The project will incorporate design standards which have been developed for
historic Mainstreet Hopkins. Development standards will be addressed in the development agreement
currently in draft form.
b. Indicate the status of zoning, regulatory changes or design standards:
Will be City has
Needed Underwa Ado ted
X
X
X
c. Indicate the status of market and feasibility studies:
Will be City has
Needed Underwa Com leted
NA
NA Feasibili studies
If completed, briefly state the conclusions of the studies: (limit 4 lines)
The City of Hopkins is not requiring a market study for this project as the overwhelming success of
Marketplace Lofts has shown demand for the product. Currently the proposed developer has over 200
names on an interest list for the development.
d. Planning and Implementation Partnerships: List and briefly describe the type and nature of
partnerships in the project among government, private, for-profit and non-profit sectors.
or Role of Partner
14
7. Community Support (Begin new page)
All Communities
. Community participation, local vision and leadership.
a. Community's role: Describe any public participation processes involving residents,
businesspersons and others used to develop the proposal. Describe plans for future community
involvement in project implementation.
Limit 10 lines
The City of Hopkins engaged in an extensive community process while developing the East Central
Business District Design Goals and Objectives. The Hopkins Business and Civic Association,
members of the Historical Society, and active residents have all provided comments and thoughtful
feedback on the plan to City staff.
The developer has also received input from the 200+ names on the interest list for the project - most of
the names are from existing Hopkins residents. Their feedback has been incorporated into design
changes for both unit floor plans and the overall project detail.
b. City's role: How have elected officials, city council initiatives or actions supported the project?
Limit 10 lines
In May 2004, the Hopkins City Council rezoned the property to a Planned Unit Development guiding
the redevelopment of this site into a mixed-use (commercial/office/residential) development and
prohibiting the current use of an auto body shop and used-car sales lot to continue. This is in meeting
the goals of the City which are to:
. Intensify the land use
. Provide for owner-occupancy in the downtown (65% of Hopkins' residential property is rental)
. Anchor East end of Mainstreet
. Remove blighted properties
The City Council fully supports the redevelopment project as proposed.
15
D. Selection Criteria (Begin new page)
1. Developability and Readiness
b.
Yes No Mark (X) appropriate box
X Is the development site as represented currently within a designated development district,
or an a roved develo ment i.e. PUD ?
c. Mark (X
X
status of a licant control of the site, or sites re resented in the
Under 0 tion contract
Own
Condemnation
Within a TIP District
Other (list):
ro osal.
d. If the site is not under the applicant's control, state the steps that will be needed to get control.
Limit 5 lines
e.
Yes No Mark (X) appropriate box
X Are market studies or a raisals available for all some or all com onents of the ro' ect?
If yes, which components (e.g. retail, office, ownership housing, rental housing)?
f.
Yes No
X
?
16
Mark (X) appropriate box
Has an architect/en ineer been selected for the roo ect? DJR Architects
h.
Yes Mark (X) appropriate box
X Is site Ian final?
If not final, describe status: (limit 4 lines)
i. How have costs been determined? Mark (X) as many as appropriate. (If more than I box checked,
ex lain which ro'ect element or elements.
X Biddin
X Contractin estimates
X Develo er estimates
X Cit estimates
Other (list):
j. If commercial is proposed, provide as much specificity as possible regarding the type of tenants and
ro' ected rents.
T e of Tenant
Service/Nei hborhood retail and restaurants
Pro' ected Rents
$12/sfto $ 14/sf with $7.50 CAM
k.
Yes No
X
Mark (X) appropriate box
Does the applicant intend to apply for LCDA funds for this project in future years for
additional hases or com onents?
If yes, briefly describe future phase(s) or components:
I.
Yes No
X
Mark (X) appropriate box
Has the applicant applied this year for the same funds, as detailed in this request, from
another source s)?
If yes, state source(s):
Applicant may pursue environmental grants from DEED and Met Council through TBRA
and Brownfield sources.
17
2. SOURCES AND USES - Fill out comnletelv. ensuring that numbers total.
Incomplete sources and uses may indicate lack of funding readiness. The Livable Communities
Advisory Committee cannot evaluate the financial readiness of a project without complete
information.
Sources $ Amount Status Aooroval Anticioated bv:
Construction Loan 14,698,266 Under review Fa112005
Environmental Grant 150,000 Applving for funds Fa112005
City of Hopkins Financin!!ITIF 650,000 Negotiating Dev. Agreement. August 2005
Deve100er Eauity 1,006,681 Approved
LCDA Grant 1,300,000 Under review Fa112005
TOTAL: 17,804,947
$ Portion from $ Other Public $ Other Private
Uses $ Amount LCDA Source Sources Sources
Hard Costs:
Land Acquisition 1,112,700 400,000 300,000 312,700
Underground Parking 1,150,000 500,000 150,000 300,000
Sitework 350,000 100,000 250,000
Greenspace/Rain gardens 150,000 100,000 50,000
Architectural Detailing 650,000 200,000 50,000 400,000
Condo Construction 8,653,443 8,653,443
Townhome Construction 2,215,900 2,215,900
Remediation 350,000 300,000 50,000
Total Hard Costs: 14,632,133 1,300,000 800,000 12 532.133
Soft Costs:
ArchitecturaVEngineering 550,344 550,344
Marketing 422,000 422,000
Carrying/Operating 844,335 844,335
Leasing Commissions/ 660,918 660,918
Consultants
Financing 236,783 236,783
Title & Recording 142,214 142,214
Legal! Accounting 130,000 130,000
Contingencv 186,220 186,220
Total Soft Costs: 2,986,594 0 0 2,986,594
OVERALL TOTAL 17,804,947 1,300,000 800,000 15,704,947
18
.
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City of Hopkins - Market Place & Main
2004 Air Photo
o
500
1,000
2,000
Feet
.
6/23/05
~MetroPoUtan Council
City of Hopkins - Market Place & Main
.2020 Planned Land Use and Regional Infrastructure
Planned Land Use
,A,griaJltural
Rural Residential
Single Family Residential
_ Multi-Family Residential
_ Commerdal
_ Industrial
_ Mixed Use - Single Units
_ Multiple Uses - Several Units
_ Institutional
_ Park and Recreation
~ Open Space: Restricted Use
__I
Vehicular Rights-af-Way
.. Railway Corridor
_Ajrport
Vacant or No Data
I.-:~':::,i Open Water
.
I.tt.
o
500
2,000
Feel
1,000
NOTE: Planned Land Use is as of 2003
and may not reflect recent plan amendments.
Sewers, Trails
[jJ Lift Station
...-. Gravity
.---. Force Main
____I Siphon
Regional Trails
TRAIL STATUS
0-- Existing
Acquisition
Planned
Proposed
Addition
Roads, Railroads, Transit
Principal Arterial
- A Minor Augmentor
- A Minor Reliever
- A Minor Expander
- A Minor Connector
- B Minor
Major Collector
Minor Collector
- Railroads
A Bus Stops
B Bus Routes
6/23/05
~MetropOlitan Council
-
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