Steve Soltau has submitted an application on behalf of Shakopee Crossings Limited Partnership for a Soil Remediation TIF.  The site is between Home Depot and the Marcus Movie Theater complex.  The site was proposed for a Willy McCoy restaurant and was to building permit until it was found that the soils may not be able to support the structure.  Crossings began an intensive investigation and found that much of the site was used for garbage burial.  Soil samples show glass and other consumer and construction materials.  The estimated removal and stabilization costs could be as high as $3 million depending on the depths of contamination. 

Staff has submitted the application along with additional materials received to our consultants who are preparing financials that will be shared at a later meeting.  These TIFs are a 20 year TIF and require the developer to spend $2 per square foot on remediation and removal.