Item Coversheet

*4.B.2.


Shakopee City Council
AprilĀ 7, 2020


FROM:Michael Kerski, Planning/Development Director
TO:Mayor and Council Members
Subject:
Application to Metropolitan Council TBRA Grant - Resolution R2020 - 045.
Policy/Action Requested:
Approve Resolution R2020 - 045.
Recommendation:
Approve Resolution R2020 - 045.
Discussion:

The City of Shakopee joined the Metropolitan Council's Livable Communities in 2018 which allows the city to apply for certain grants and loans through their various programs.

 

The Tax Base Revitalization Accounts (TBRA) allow cities to draw on grant funding from the Met Council to revitalize properties that are contaminated and return them to the tax roles. This funding has been used extensively throughout the metro area. The city applied back in November 2019 for the fall round of the TBRA. This application is for the spring 2020 grant round.

 

These funds would be used to re-mediate site contamination in the Riverfront Bluff Redevelopment area.  As part of the environmental research on the site, the city retained Terracon to do a complete soils analysis.  As part of that research, a large plume was discovered in the bedrock of VOC and chemicals associated with a former dry cleaners in the area. Also, a vast and deep field was found of organic and non-organic waste, ranging from nine to nineteen feet deep.

 

These funds would be used to assist in the removal of these site contaminants. Terracon has submitted a voluntary clean up plan with the state on behalf of the EDA and the developer.

 
Budget Impact:
The budget for the Riverfront Bluff project is $925,625. The city and the EDA created a redevelopment tax increment financing (TIF) district to pay for the purchase, removal of the existing structures, and to provide new public infrastructure including roadways, sidewalks, and utilities of the Riverfront Bluff property. After grant funding, the remaining funding will be paid by the approved TIF and will be repaid out of tax proceeds over time. 
ATTACHMENTS:
Description
Resolution R2020 - 045