Discussion:
The Gaughan Companies have a Contract for Private Development with the Economic Development Authority to construct a new market rate apartment complex with a restaurant on the EDA-owned site between First Avenue and Levee Drive.
The EDA acquired additional properties and amended the Contract to include those in the redevelopment site in 2019. Since that time, the developer and its architects have been working with staff on a new site plan and building designs.
Staff wanted the EDA to review the new concepts before the developer moves to construction documents and begins the actual development. The developer will also be coordinating with Engineering staff on the reconstruction of utilities and stormwater improvements in Levee Drive and with Shakopee Public Utilities on relocation of overhead utilities and new water lines in Levee Drive.
We anticipate that once the EDA provides feedback on the designs, staff and our attorneys will bring forward a third modification to the Contract for Private Development that will include language on the final designs, utilities and stormwater locations along with modifying the agreement to include the funding that the city has received from DEED for site remediation.
The developer on the EDA's behalf has also submitted a lot consolidation plat that will create one lot for the development of the project. Review of that plat is scheduled for the March Planning Commission followed by Council action at the second meeting in March.