Item Coversheet

4.B.


Shakopee Economic Development Authority
March 6, 2018


FROM: Michael Kerski, Director of Planning and Development 
TO:President and Board Members
Subject:
Resolution No. E2018-004 authorizing agreement with Topaz Investments or its Assigns to sell approximately three acres in the West End Gateway, Lot 2, Block 1
Policy/Action Requested:
Approval of Resolution No. E2018-004 with Topaz Investments for $125,000 an acre for development of housing and services for handicapped individuals.
Recommendation:
Approve Resolution No. E2018-004 and also allow for placement of construction equipment prior to roadway weight limits.
Discussion:

Topaz Investments, like Doggie Doos, was originally purchasing property on First Avenue that was found to be archeologically impacted.

 

Topaz has redesigned their development to now fit on the new site.  The first phase of construction will be a residential treatment facility.  Depending on demand, they have plans to construct up to two additional buildings, similar to their existing campus in Chaska.  That would include additional housing, transition space and a larger dining facility.  If they were to complete all three structures, the investment would be in excess of $10 million. 

 

Topaz and Doggie Doos have been working together on both civil engineering and architecture.  They will also likely be using the same general contractor since they share a common driveway easement from the existing shopping centers. 

 

Topaz plans on starting works once its construction plans receive final approval from the city.  They are asking for access to place construction equipment on the property prior to closing to avoid roadway weight limits.This will allow them to begin grading sooner for both sites.

 

Topaz received approvals for a Conditional Use Permit at this site for this use.

Budget Impact:
Proceeds will go to the EDA account.
ATTACHMENTS:
Description
Resolution
Agreement
plat Exhibit