| | | | | | | | 
Shakopee Economic Development Authority
September 4, 2018
|
| | | | | | | | | FROM: | Michael Kerski, Director of Planning and Development | | TO: | President and Board Members |
|
| | | | | | | | Subject:
Sale of property to Gaughan Companies for the redevelopment of the River Bluff |
| | | | | | | | Policy/Action Requested:
Approve resolution to allow for the sale of property to the Gaughan Companies or its assigns. |
| | | | | | | | Recommendation:
Approve Resolution No. E2018-021 for the sale of Lots 1, 2, 6, 7, 8, 9, 10, Block 7; Lot 6, Block 7, excluding the northerly 30 feet thereof; Lot 7, Block 7, excluding the northerly 30 feet thereof; Lot 3, Block 7, except the East 10 feet thereof, All in City of Shakopee, according to the recorded plat thereof, Scott County, Minnesota; and the vacated alley in Block 7, City of Shakopee, according to the recorded plat thereof, Scott County, Minnesota, lying between the northerly extension of the westerly line of Lot 1, Block 7, and the northerly extension of the westerly line of the easterly 10 feet of Lot 3, Block 7. |
| | | | | | | | Discussion:
The EDA and City Council have already approved the TIF Plan and Contract for Private Development with Gaughan Companies or its assign for the redevelopment of this site into approximately 125 units of market rate housing and a restaurant to be located on Levee Drive overlooking the Minnesota River. The EDA when disposing of property, must advertise its intentions, which has been done. The last step in this redevelopment project will be the partial abandonment of the existing alley. |
|