Item Coversheet

4.C.


Shakopee Economic Development Authority
June 5, 2018


FROM: Michael Kerski, Director of Planning and Development 
TO:President and Board Members
Subject:
Offer from OPUS Development for EDA-owned property for development of a proposed office/light industrial park with two buildings.
Policy/Action Requested:

Provide direction on moving forward.

Recommendation:
Provide direction to staff if they should move forward.
Discussion:

OPUS Development has proposed purchasing the EDA-owned property at Vierling.  Their proposal is to develop two business park/light industrial buildings with similar tenants to other buildings they have built in Shakopee.  These would be multi-tenanted buildings.  They would not be marketing this to warehouse or distribution companies but towards higher wage small manufacturing companies.  They have had interest from some medical device and technology companies.  These companies typically have a front office operation, manufacturing, and distribution of their products.

 

The proposed layout does impact the current roadway project.  It will require a redesign of the ponding to include a new pond to the rear of the proposed development.  There would be other smaller changes that will need to be made in curbs and basins.

 

OPUS has tentatively agreed that they would put the project into a PUD District that would require a higher level of architecture on the buildings since this is a gateway into the community.

Budget Impact:

Selling the EDA land would provide the portion of the EDA share for the roadway, increase the tax base and provide new jobs.

ATTACHMENTS:
Description
Offer Letter
Concept Plan