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HomeMy WebLinkAboutPlanning Commission - 08/26/2019 AGENDA EDEN PRAIRIE PLANNING COMMISSION Monday, August 26, 2019 - 7:00 P.M. PLANNING COMMISSION MEMBERS: John Kirk, Charles Weber, Ann Higgins, Andrew Pieper, Ed Farr, Michael DeSanctis, Christopher Villarreal, Carole Mette, Balu Iyer STAFF MEMBERS: Julie Klima, City Planner; Rod Rue, City Engineer; Matt Bourne, Manager of Parks and Natural Resources I. CALL THE MEETING TO ORDER II. PLEDGE OF ALLEGIANCE -- ROLL CALL III. APPROVAL OF AGENDA IV. MINUTES A. Approval of the Minutes for the August 12, 2019 meeting V. PUBLIC HEARINGS A. PARAVEL APARTMENTS Request for:  Planned Unit Development Concept Review on 4.962 acres  Planned Unit Development District Review with waivers on 4.962 acres  Site Plan Review on 4.962 acres  Preliminary Plat of an outlot into one lot on 4.962 acres VI. PLANNERS’ REPORT A. MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 5 AND A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 24 VII. MEMBERS’ REPORTS VIII. ADJOURNMENT ANNOTATED AGENDA TO: Planning Commission Members FROM: Julie Klima, City Planner RE: Planning Commission Meeting for Monday, August 26, 2019 _______________________________________________________________________________ MONDAY, AUGUST 26, 2019 7:00 PM, COUNCIL CHAMBERS I. CALL THE MEETING TO ORDER II. PLEDGE OF ALLEGIANCE- ROLL CALL III. APPROVAL OF AGENDA A. MOTION: Move to approve the agenda. IV. APPROVAL OF MINUTES A. PLANNING COMMISSION MEETING HELD MONDAY, AUGUST 12, 2019 MOTION: Move to approve the Planning Commission minutes dated August 12, 2019. V. PUBLIC HEARINGS A. PARAVEL APARTMENTS Request for:  Planned Unit Development Concept Review on 4.962 acres  Planned Unit Development District Review with waivers on 4.962 acres  Site Plan Review on 4.962 acres  Preliminary Plat of an outlot into one lot on 4.962 acres The project proposes the construction of a 5 story and 7 story multi-family residential development. The project includes 245 multi-family residential units and 1 guest suite. The project also proposes use of underground parking and limited surface parking. The project provides 425 parking stalls on site. Unit types range from studio units, 1 BR, 1 BR + Den, 2 BR, 2 BR + Den, and 2 BR + Den Plus. The density calculated for the multi-family units is 49.3 units per acre. The project includes sidewalks surrounding the perimeter of the building and connections to the public trail that accesses Purgatory Creek Park. The project includes a wide variety of indoor and outdoor amenities for the residents. Examples of these amenities include swimming pool, garden areas including community gardens, sky decks, bike lounge areas, fitness center, outdoor game and firepit areas. The applicant will be seeking Tax Increment Financing (TIF) from the City. As a part of TIF projects, 20% of the units (50 units) will be affordable at 50% of Area Median Income (AMI). The City has also been working with developers to provide Inclusionary Housing (IH) in recent development projects. As the City continues to review development proposals and integrate affordable housing opportunities into those projects, staff has worked with Timberland to provide for affordable units within the Paravel Apartments project. The applicant proposes to provide 7 IH units affordable at 80% of AMI and 6 IH ANNOTATED AGENDA August 26, 2019 Page 2 units affordable at 100% AMI. Both the TIF and IH affordable units will be provided upon occupancy of the project. Upon expiration of the TIF term, the IH affordable units would remain in place. As part of the PUD approval the applicant is seeking waivers to certain performance standards in order to develop the property consistent with the Comprehensive Plan. Some of these waivers include density, building height, setback, and landscaping. Staff recommends approval. MOTION 1: Move to close the public hearing. MOTION 2: Move to recommend approval of the Planned Unit Development Concept Review on 4.962 acres; Planned Unit Development District Review with waivers on 4.962 acres; Site Plan Review on 4.962 acres, and Preliminary Plat of an outlot into one lot on 4.962 acres based on Plans stamped dated August 16, 2019 and the Staff Report dated August 22, 2019. VI. PLANNERS’ REPORT A. MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 5 AND A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 24 As part of the TIF request for Paravel Apartments, the Planning Commission is asked to adopt a resolution finding that a modification to the redevelopment plan for project area no. 5 and tax increment financing plan for tax increment financing district no. conforms to the general plans for the development and redevelopment of the City. Staff recommends approval. MOTION: Move to adopt Planning Commission Resolution No. 2019-01 finding that a modification to the redevelopment plan for project area no. 5 and tax increment financing plan for tax increment financing district no. conforms to the general plans for the development and redevelopment of the City. VII. MEMBERS’ REPORT VIII. ADJOURNMENT MOTION: Move to adjourn the Planning Commission meeting. UNAPPROVED MINUTES EDEN PRAIRIE PLANNING COMMISSION MONDAY, AUGUST 12, 2019 7:00 PM—CITY CENTER Council Chambers 8080 Mitchell Road COMMISSION MEMBERS: John Kirk, Charles Weber, Ann Higgins, Andrew Pieper, Ed Farr, Michael DeSanctis, Christopher Villarreal, Carole Mette, Balu Iyer CITY STAFF: Beth Novak-Krebs, Senior Planner; Rod Rue, City Engineer; Kristin Harley, Recording Secretary I. CALL THE MEETING TO ORDER Chair Pieper called the meeting to order at 7:00 p.m. II. PLEDGE OF ALLEGIANCE – ROLL CALL Commission members Villarreal and Weber were absent. III. APPROVAL OF AGENDA MOTION: Iyer moved, seconded by both Higgins and DeSanctis to approve the agenda. MOTION CARRIED 7-0. Letter requesting continuance of Costco IV. MINUTES MOTION: Farr moved, seconded by Kirk to approve the minutes of July 22, 2019 with the change to offer more context of Pieper’s comment on pedestrians’ versus motorists view of the proposed SouthWest Station Retail sign. MOTION CARRIED 7-0. V. PUBLIC HEARINGS A. MILLER PROPERTY Request for:  Planned Unit Development Concept Review on 9.73 acres  Planned Unit Development District Review with waivers on 9.73 acres  Zoning District Change from R1-13.5 to R1-9.5 on 9.73 acres  Preliminary Plat of one lot into seventeen lots on 9.73 acres Steve Schwieters of Wooddale Builders Minnesota presented a PowerPoint and explained the application. The 9.7 acre property would be divided into 17 single PLANNING COMMISSION MINUTES August 12, 2019 Page 2 family lots. The property, currently zoned R1-13.5, would be rezoned to R1-9.5, which allows for a maximum density of 3.5 units per acre whereas the project proposed a density of 1.74 units per acre. Outlot A is proposed to be deeded to the City to preserve the wetland and wetland buffer area. Schwieters likened this project to the Stable Path project: it was built as an empty-nester community, with one-level living in custom designed, villa-style homes with full basements. However, this would have a higher price point, at $850,000.00 to one million dollars. The average lot would be 64 feet wide and each would have side-loaded garages. Some would have a 2.5-car garage, with the majority having three-car garages like Stable Path. Schwieters worked with staff on tree removal and replacement and on sand removal. A neighborhood meeting was held in June, and residents raised concerns about the number of units, the density, and the water drainage areas. Residents to the south get a lot of water during rainfall and in winter, and Schwieters worked with staff to retain water on property. Schwieters displayed various elevations showing the two-car side loaded garage, front porch, steep roofs, and the “cottage” style. The design would allow a loft inside the roof. Each landscape plan would be customized and the applicant would be replacing approximately500 trees. Farr noted most side yard variance requests asked for five- and ten-foot sides and asked why a waiver of 7.5- and 7.5-feet was requested. Schwieters replied this allowed for more flexibility and in most cases there would be more than 7.5- and 7.5 feet on the sides. Farr asked if the HOA would allow fences between properties, and Schwieters replied it would not. Farr encouraged Schwieters to allow service vehicles to be able to get through between houses. Schwieters replied this was possible but highly unlikely as there would be retaining walls off the front porches and staircases. There could be electric fences for dogs, but no rear or side fences, and no pools allowed, only hot tubs. Mette approved of the side-load garages. She asked Schwieters to explain what the community could expect in terms of traffic during construction. Schwieters replied the workers would be hauling loads of dirt and sand, which would contribute most of the traffic. Then there would be carpenters and the normal traffic associated with construction. He anticipated closing on the property in late September, and acquiring a permit to grade the property, clear trees and haul dirt in late September or early October for two weeks between the hours of 7:30 a.m. and 4:30 p.m. There would be daily street cleaning. Again, it would be similar to the Stable Path project. DeSanctis found it laudable to save some of the larger caliper black cherry trees. He asked Schwieters to consider native pollinators in the landscape plan, as a butterfly and bee habitat was crucial. Schwieters replied he had not considered that but would be willing to work with staff. DeSanctis asked, given the price point, if Schwieters would consider spec homes with solar shingles or panels. PLANNING COMMISSION MINUTES August 12, 2019 Page 3 Schwieters replied that was always a thought in the background, but he had not done much of it. Recently he completed a house on Lake Minnetonka with solar panel, but it was not one of Wooddale’s standard features. Electric car charging units would be included. DeSanctis asked if there could be permeable driveways and Schwieters replied he planned to use concrete for a higher-end look. Permeable was not considered but he would be willing to consider using pavers. DeSanctis asked if it was possible to allocate space for a community garden, and Schwieters replied there was an option off the walkouts for a small privacy fence with plantings. The properties would have a lot of open space in front but mostly trees and prairie grass to the back. Iyer asked for the stormwater management capacity of the project. Schwieters introduced the engineer, Robert Molstad, who explained an infiltration basin would be built which would capture the water. At Farr’s request Molstad explained the drain tile system on the east property line. Farr suggested Molstad consider angling roof lines to maximize the water collected. Molstad displayed the infiltration basin on the plan and explained each home would receive a free rain barrel with a package and a brochure to explain usage. Farr urged that the heritage Burr Oak scheduled for cutting on Lot 6 at the southwest corner be saved, if possible. Schwieters agreed this could be done. Novak-Krebs presented the planners report. The applicant was seeking several PUD waivers for the property: a reduction of front yard setback from 30 feet to 25 feet; the side yard setbacks of 7.5 feet on each side rather than 10 feet on one side and 5 feet on the other and minimum lot width from 70 feet and 55 feet (for lots located on the bulb of the cul-de-sac) to widths as depicted in the plans. She had received several comment letters from residents expressing concern about density. Staff recommended approval of the project. Higgins asked for and received clarification that the wetland and conservation area outlot would be deeded to the City. Bourne stated this was to preserve the wetland and the City actually owned several adjoining parcels. Kirk asked for details on the future traffic flow. Pieper noted a sharp turn coming out of the development and asked if sight lines would be sufficient. Rue replied the development would generate about 10 additional trips per day per unit including garbage trucks and buses. There would be an increase in traffic during construction. Traffic at completion would not increase significantly, perhaps 5-10 trips per day per unit more. Roberts Drive averaged 1500-2000 trips per day. Staff struggled with this corner, as it was an atypical intersection and the only access to the cul-de-sac. The sight lines should be sufficient and area trees could be trimmed. Iyer asked if sidewalks could be added. Rue replied that was difficult with any infill neighborhood like this. Farr asked if there would be a stop sign leaving this development, and Rue replied there would be. Farr asked if another on northbound or westbound Gerard Drive was needed. Rue replied the sight lines were adequate so it was not needed. PLANNING COMMISSION MINUTES August 12, 2019 Page 4 Farr asked what a projected maximum number of units could be built on this land. Rue the increase would be negligible; the topography, trees and wetland limited the development and the average lot size was 15,000 square feet with some very large lots as large as 31,000 square feet. This was not a dense development. Mette suggested speed bumps, adding she did drive the area and the very sharp turn forced her to slow down. She asked what triggered a traffic study and when: a certain size development, discretion of staff, et cetera? Rue replied there was no set metric for a traffic study, but a traffic memo at minimum could be done. Mette asked if maps of traffic counts at Gerard Drive could be found. Rue replied a neighborhood street could handle many cars, and the count on residential streets on a fairly typical residential neighborhood would be about 1,500–2,000 cars per day. Resident Keith Kapitan, of 12838 Gerard Drive, stated the corner in question was treacherous in winter and expressed concerns for safety. Resident Timothy Kojetin, 13173 Beehive Court, stated he was here as a parent of two small children who had to take the bus and was also concerned about the project’s impact on neighborhood safety. Resident Jennifer Prince, 13190 Beehive Court, stated she lives south of proposed lots 4, 5, and 6 and she had very little grass with a pollinator and rain garden instead. She was concerned about possible piling of snow and leaves due to this development and added she had water in her basement for first time during the past winter. Water ran into her back yard and filter drains would not work in frozen ground. She displayed a drawing of the location of drains and sewer which turned to glare ice and warned this was not a one-time occurrence. She wanted reassurance the neighbors to the south would not be flooded out. She added the corner was dangerous for children on sleds and bicycles. Resident Chris Sieffermann, of 6997 Edgebrook Place, requested roads wide enough for fire trucks to turn safely and added one crashed into one lot near the proposed development. Some years back even a plane crashed near here. Resident Maria Ringsmuth, of 13166 Beehive Court, stated she was also concerned about possible flooding. She had reached out to Schwieters regarding saving the 100-year old burr oak Farr had mentioned and emphasized she was not against change. She requested Schwieters consider reducing the number of units from 17 to 10, though she understood it was already spec-ed. She also asked for a green space for retirees to walk along the Miller property and the property line to the south. She added she cared for a 32-year-old son with brain injury who traveled in a three-wheeled vehicle and gave Wayzata as an example of new PLANNING COMMISSION MINUTES August 12, 2019 Page 5 developments that incorporated new walking/biking paths. She also requested Schwieters plant more burr oaks than prairie grass. Resident Brian Farrell, of 7140 Gerard Drive, stated he too was a father of two small children who walked them to the bus stop. The curved road was dangerous; one car missed the turn and was totaled, striking a sign put there to remind drivers of the curve. Winter in the area was icy and even more dangerous with no sidewalks. MOTION: Higgins moved, seconded by DeSanctis to close the public hearing. MOTION CARRIED 7-0. Higgins echoed many of the concerns of the residents that the streets in the area were curved and very hilly part of Eden Prairie, and potentially dangerous even for a careful driver. Mette agreed the key issue was not the amount of traffic but safety, speed, visibility, and a place for pedestrians to walk. She asked if it was not possible to have a sidewalk on Gerard Drive, and urged that something be implemented to increase the safety including the snow, ice, and water drainage. Easy solutions were a speed bump and caution signage but this probably required more intense examination. She did not see the requested reduction in units as making a significant change but urged that curb cuts, storm sewers, and the infiltration area be addressed. DeSanctis stated the key issues were safety and a hydrological issue, the distribution of water. Removing trees removed roots that keep water in place and once gone they were never fully replaced. He called for an organic, integrated relationship between this project and its neighbors rather than a shoehorned development, and added that adding a walkway would enhance its livability. Farr agreed with Mette that he saw no incremental benefit of reducing the number of units. He found nothing negative in the waiver requests, but he understood the frustration of the residents and called for a sidewalk along Gerard Drive and for civil engineer Molstad to explain his storm water management solution. Molstad projected an aerial overview and pointed out the overflow arrows and how the plan would handle the water. Molstad explained that the stormwater management being proposed will improve drainage from what it is now. DeSanctis emphasized a greater effort to integrate “us and them” and called for a separating, self- protecting berm along the south end of the development. Kirk agreed the street safety issue was a difficult one and added he was not sure the development was the root cause but could be exacerbating it. He asked staff to work with the civil engineer on this larger question. Iyer what mechanisms could be put in place to keep people away from the street. Bourne replied staff could look at adding sidewalks but this would be difficult to retrofit a sidewalk along an existing street and would run into landscaping and grade issues. DeSanctis PLANNING COMMISSION MINUTES August 12, 2019 Page 6 requested there be signage on Gerard Drive denoting the sharp curve and the speed limit, and resident Farrell replied there already was one but was hit by the car that missed the curve. Discussion followed on possible solutions to the traffic on Gerard Drive. Kirk noted it was difficult but necessary to balance the values of the City and the rights of the residents with those of the developer. He commended the healthy dialogue inspired by informed and involved residents in attendance at this meeting, and added the developer had done a good job to create a reasonably balanced development. He supported the waivers as reasonable, but urged the safety issues on Gerard Drive and on other potentially dangerous road in Eden Prairie be looked at on continuous basis. MOTION: Farr moved, seconded by Mette to recommend approval of the Planned Unit Development Concept Review on 9.73 acres, Planned Unit Development District Review with waivers on 9.73 acres, zoning district change from R1-13.5 to R1-9.5 on 9.73 acres and preliminary plat of one lot into seventeen lots on 9.73 based on the information contained in the staff report dated August 8, 2019. MOTION CARRIED 5-0, with 2 abstentions. B. PARAVEL APARTMENTS Request for:  Planned Unit Development Concept Review on 4.962 acres  Planned Unit Development District Review with waivers on 4.962 acres  Site Plan Review on 4.962 acres  Preliminary Plat of an outlot into one lot on 4.962 acres Novak-Krebs presented the staff report. The stormwater management piece had not yet been received. Staff recommended the public hearing be continued to August 26, 2019. MOTION: DeSanctis moved, seconded by Higgins to continue the item to the August 26, 2019. MOTION CARRIED 7-0. C. COSTCO FUEL FACILITY EXPANSION Request for:  Planned Unit Development District Amendment with waivers on 18.18 acres  Site Plan Review on 18.18 acres MOTION: Kirk moved, seconded by Iyer to continue the item to the September 9, 2019 public hearing. MOTION CARRIED 7-0. PLANNING COMMISSION MINUTES August 12, 2019 Page 7 VI. PLANNERS’ REPORT Novak-Krebs passed along an invitation to the commission members for the Riley Purgatory Bluff Creek Watershed 50 year celebration on August 28, 2019 at Riley-Jacques Barn, 9180 Riley Lake Road. VII. MEMBERS’ REPORTS VIII. ADJOURNMENT MOTION: Farr moved, seconded by Kirk to adjourn. MOTION CARRIED 7-0. The meeting was adjourned at 8:42 p.m. STAFF REPORT TO: Planning Commission FROM: Julie Klima, City Planner DATE: August 22, 2019 SUBJECT: Paravel Apartments LOCATION: 635 Prairie Center Drive APPLICANT: Timberland Partners OWNERS: Presbyterian Homes 120 DAY REVIEW: November 18, 2019 REQUEST: 1. Planned Unit Development Concept Review on 4.962 acres 2. Planned Unit Development District Review with waivers on 4.962 acres 3. Site Plan Review on 4.962 acres 4. Preliminary Plat of an outlot into 1 lot on 4.962 acres BACKGROUND & OVERALL PROJECT AREA The applicant is proposing to redevelop the property at 635 Prairie Center Drive. This is the second phase of the Castle Ridge Redevelopment project. The master developer, Presbyterian Homes, is coordinating with 2 development partners for the proposed outlot areas. Due to these partnerships, the outlots are not on the same timeline for construction as the Presbyterian Homes site. Therefore, the Paravel project and the commercial project are being submitted and reviewed through separate processes. The Castle Ridge project recently received approval and the commercial development plans will be forthcoming through a separate review process. Although the project includes three developers and three different product types, the developers are partnering to design individual project areas that contain cohesive development components. The property was subject to a concept review as part of the overall Castle Ridge Redevelopment project. The plans submitted have been revised to address comments provided through that process which included reviews by City staff, the Planning Commission and the City Council. The existing use of the property is the Broadmoor Apartments which includes 240 units for general occupancy, and vacant property. The Broadmoor Apartments include studio, 1 BR and 2 BR units. The property is very near to commercial uses and park and open space. CURRENT PROPOSAL Timberland is proposing approximately 245 units of multi-family housing and 1 guest suite. These housing units are proposed to be general occupancy rental units (not age restricted). The plan Staff Report – Paravel Apartments August 22, 2019 Page 2 2 provides for a building that is 5 stories in height on the south and 7 stories in height on the north. The connecting space between these areas largely includes community spaces on the first and second floors with residential units on upper floors. The project also proposes use of underground parking and limited surface parking. The project provides 425 parking stalls on site. Unit types range from studio units, 1 BR, 1 BR + Den, 2 BR, 2 BR + Den, and 2 BR + Den Plus. The density calculated for the multi-family units is 49.3 units per acre. The unit types proposed include: Unit Type 7 Story Portion 5 Story Portion Total Unit Count By Type Studio 29 29 1 Bedroom 21 66 87 1Bedroom + Den 16 20 36 2 Bedroom 43 17 60 2 Bedroom + Den 27 27 2 Bedroom + Den Plus 6 6 Guest Suite 1 1 Total Units 113 + 1 guest suite 132 View along Prairie Center Drive Staff Report – Paravel Apartments August 22, 2019 Page 3 3 COMPREHENSIVE PLAN & ZONING The site is currently guided Mixed Use and is zoned RM-2.5. The zoning was modified slightly through review of the Castle Ridge Redevelopment project to reflect the updated overall development plan for the area. The property is bordered by commercial development to the north; Columbine Road to the west and Prairie Center Drive to the east. Beyond Columbine Road is the Purgatory Creek Park area and properties east of Prairie Center Drive are developed as commercial properties. SITE PLAN AND PRELIMINARY PLAT The preliminary plat proposes to replat the property from an outlot to a lot. The plat should be revised to include standard 10 foot drainage and utility easements along the entire length of the lot adjacent to Columbine Road. The site layout would provide 2 access points from private streets accessing from Columbine Road and one access from a private street accessing from Prairie Center Drive. Surface parking, landscaped areas, pedestrian connections and recreational areas are proposed adjacent to the building. The project includes sidewalks surrounding the perimeter of the building and connections to the public trail that accesses Purgatory Creek Park. The site plan proposes pedestrian connections that would link the multi-family units to the commercial and senior housing facility areas of the overall project area. These connections create opportunity for through pedestrian movements from the trails along Flying Cloud Drive and Prairie Center Drive to and through the overall site and the individual site areas. The public sidewalk location adjacent to Prairie Center Drive should be adjusted such that a minimum of an 8’ wide boulevard is provided or continue the same boulevard width as the section to the north. The plan should indicate that this is a public sidewalk. The private sidewalk connections from the at grade units to the public sidewalk paralleling Prairie Center Drive that are within the drainage and utility easement and public right of way are to be privately maintained. Staff Report – Paravel Apartments August 22, 2019 Page 4 4 View from Columbine Road Proposed site amenities include enhanced and coordinated materials for pedestrian connections throughout the total PUD project area. These pedestrian connections shall provide an alternative material, color and pattern in order to differentiate these areas as pedestrian connections and create an inviting environment promoting pedestrian circulation. The development will also provide coordinated site amenities such as street lighting fixtures, bollard lighting at the pedestrian level, street furniture including but not limited to, benches, bike racks, and trash receptacles. The Development Agreement will include language requiring that consistency in such site amenities be provided in all phases of the project. The project includes a wide variety of indoor and outdoor amenities for the residents. Examples of these amenities include swimming pool, garden areas including community gardens, sky decks, bike lounge areas, fitness center, outdoor game and firepit areas. Sheet A1.12 details the location, size, and programming of the proposed areas. The table detailing the group usable open spaces provides for the entry terrace areas as indoor area. The table should be revised to be include this area in the outdoor calculations. City Code requires 600 square feet of group usable open space per dwelling unit. The applicant is seeking a waiver to this requirement to allow approximately 134 square feet of group usable open space per dwelling unit. The interior group usable open spaces are located throughout the building in both the 5 story and 7 story portions. The group usable open spaces (both indoor and outdoor) will be required to be accessible to all residents of the building, regardless of whether the tenant lives in Staff Report – Paravel Apartments August 22, 2019 Page 5 5 the 5 story or 7 story portion. The Development Agreement will address this in further detail. The bike parking at the intersection of Prairie Center Drive and the main entrance must be located outside of the drainage and utility easement. There is an existing wetland along the western boundary of the property along Columbine Road. The location of the conservation easement over the wetland and wetland buffers must be coordinated with the watershed district requirements for wetland and wetland buffer protection. The plans indicate a minimum of 16.7 feet interior to the project and approximately 10 feet between the wetland and Columbine Road. The city would require a minimum of 10 feet of buffer, so no waiver is required from city requirements. Constructed stormwater pond 14-32-C can have a conservation easement placed over its pond buffer; however, the conservation easement must not extend between the top of berm or high water elevation and the constructed pond. No conservation easement over the ponding area or the access point for pond maintenance would be allowed. A drainage and utility easement must be placed over just the conservation easement area. The drainage and utility easement must not extend over the constructed stormwater ponding area, including between the top of berm or high water elevation and the pond surface. The irrigation system must not extend into the conservation easement area. DEMOLITION AND CONSTRUCTION PHASING The Presbyterian Homes portion of the project is proposed to be constructed as Phase I of the overall project. The initial demolition will include the removal of the Broadmoor Apartments. At that same time, the subject site will be graded and prepped for construction of the Paravel Apartments. PARKING The proposed site plan includes a total of 425 parking stalls. Of these, 358 stalls are enclosed structured parking and 67 are surface parking stalls. This provides a ratio of 1.73 parking stalls per dwelling unit. Based on the number of units provided, the parking requirement by City Code is 490 parking stalls (245 units * 2 stalls/unit). City Code also requires that 1 parking stall per unit be enclosed. The proposal meets the City requirement for enclosed parking stalls. The applicant is requesting a waiver to the overall parking requirement of 2 stalls per unit. The proposed plan provides a ratio of 1.73 parking stalls per dwelling unit. TREE REPLACEMENT Tree replacement will be calculated individually for each of the individual project areas at the time of site plan review. The proposed Paravel project provides for nearly 100% tree removal of the existing significant and heritage trees on the site. Based on the plans submitted, staff has the following comments on the tree replacement plan.  Trees #5148 and #5149 are marked as being saved on the Tree Replacement Plan, however the sidewalk along Prairie Center Drive is being shifted closer to the trees and after verifying Staff Report – Paravel Apartments August 22, 2019 Page 6 6 current conditions onsite, these trees will not survive. The Tree Replacement Plan should be updated to show these trees as being removed or change the site plans to protect these trees.  Additional significant trees located in the Prairie Center Drive boulevard will be removed as part of the project and should be included in the Tree Replacement calculations.  The revised Landscape Plan shows 7 Elm trees proposed to be planted in the boulevard of Prairie Center Drive. These trees should either be moved to the west side of the sidewalk or the sidewalk shifted to provide a boulevard width of at least 8 feet to ensure adequate space for the trees to grow.  Staff recommends that that 9 Pagoda Dogwood trees proposed to be planted on the east side of the building be replaced with a species that can better withstand shade and salt spray from Prairie Center Drive. Staff recommends that these revisions be addressed prior to 1st reading by the City Council in order to accurately address the overall development plans. Once these revisions are made, it will impact the final tree replacement calculations for the site. City Code allows for tree replacement requirements to be met either through the replacement of trees on site or by a payment in-lieu option. Because the overall site is requesting a waiver to the landscaping requirement (additional details provided below), staff recommends that the tree replacement requirement be met through the payment in-lieu option. The Development Agreement will address the payment in-lieu provisions. LANDSCAPE PLAN Landscaping requirements are a distinct requirement from tree replacement. While tree replacement addresses the amount of trees required to be replaced due to removal of existing trees, the landscaping requirements address the landscaping required to balance the size, scale, and massing of proposed building. Based on the total floor area proposed for the apartment building, the landscaping requirement is 914 caliper inches. The proposed landscaping plan provides for approximately 450 caliper inches. The applicant is requesting that the difference be approved through a waiver. Of the approximate 450 caliper inches being proposed, 145 of those caliper inches are provided as overstory, coniferous, and ornamental trees; 230 caliper inches are provided as shrubs and 67 caliper inches are provided as perennials. The landscaping plan dated 7/22/19 indicates a total of 457 caliper inches is being provided. Upon staff review and calculation of the proposed landscaping plan, the calculation and plan should be revised to reflect several items. Specifically, the following revisions should be made prior to 1st reading by the City Council:  Include the 17.5 caliper inches proposed for planting along Prairie Center Drive;  Include the caliper inches provided in the median island west of the CVS store. These trees are not part of the landscaping plan for the CVS property and should be included in this project since they are located on the Paravel lot. This will provide an increase to the Staff Report – Paravel Apartments August 22, 2019 Page 7 7 landscaping provided on site and will impact the final landscaping calculation;  City Code allows up to 25% of the landscaping requirement to be met through shrubs, perennials, grasses and planting areas. In this case, 25% of the requirement equals 228 caliper inches. The proposed plan provides for the equivalent of 230 caliper inches of shrubs and 67 caliper inches of perennials. While this totals 297 caliper inches, City Code allows only 228 caliper inches to be applied to the landscaping requirement. The overall impact and feel of the site would provide for a landscaping plan that is closer to compliance. The landscaping plan should be revised to include the calculations for total landscape provided on the site in caliper inches and the calculation of caliper inches that are applicable to the City Code requirements. LIGHTING The proposed site lighting plan complies with City requirements of 0.5 footcandle at the property line. Lighting will be further confirmed at the time of building permit issuance. SIGNS All signs will require review and approval through a separate sign permit process. All signs shall comply with City Code requirements. The monument sign proposed at the intersection of Prairie Center Drive and the main entrance shall be located outside of the drainage and utility easement. PUBLIC ART The project proposes the inclusion of a public art piece to be installed at the primary entrance traffic circle. The Development Agreement will include language to address the timing of the installation of the art piece, value, and process for selection. AFFORDABILITY The applicant will be seeking Tax Increment Financing (TIF) from the City. As a part of TIF projects, 20% of the units (50 units) will be affordable at 50% of Area Median Income (AMI). The City has also been working with developers to provide Inclusionary Housing (IH) in recent development projects. As the City continues to review development proposals and integrate affordable housing opportunities into those projects, staff has worked with Timberland to provide for affordable units within the Paravel Apartments project. The applicant proposes to provide 7 IH units affordable at 80% of AMI and 6 IH units affordable at 100% AMI. Both the TIF and IH affordable units will be provided upon occupancy of the project. Upon expiration of the TIF term, the IH affordable units would remain in place. The mix of units to be provided for the Inclusionary Housing (IH) units are as follows:  7 units at 80% AMI o Maximum of 3 studios; o Maximum of 3 1BR units; o Minimum of 1 2 BR unit. Staff Report – Paravel Apartments August 22, 2019 Page 8 8  6 units at 100% AMI o Maximum of 1 studio unit; o Maximum of 1 1 BR unit; o Minimum of 4 2 BR units. The mix of affordable TIF units is proposed as follows:  13 studio units at 50% AMI;  27 1BR units at 50% AMI;  10 2 BR units at 50% AMI The applicant is proposing that all of the affordable units (both TIF and IH) be located within the 5 story portion of the building. The finishes within the affordable units will be consistent with the finishes of the market rate units throughout the building. Payment of park dedication fees may be reduced for the TIF affordable units. Discussions regarding the specifics of the terms of the TIF Agreement are ongoing. The Development Agreement will contain language to address the details of affordable units, park dedication payments, and the provision of a guest suite. ARCHITECTURAL STANDARDS The applicant provided building elevations and renderings for the proposed building. The project includes a number of recesses and projections, color variations, roofline variations and material changes. All of these additional architectural details add to the character, quality and appeal of the building while meeting and exceeding the architectural requirements of City Code. City Code requires that each building façade include a minimum of 75% of the areas of Class I materials as defined in City Code. The building has multiple facades. The majority of the facades exceed the building material requirements, however, a few of the facades will require revisions to ensure that the 75% Class I materials are met on all facades. These revisions shall be provided prior to 1st reading by the City Council. SUSTAINABLE FEATURES The applicant has provided an extensive list of sustainability features that will be included within the development. A complete list of sustainable features is provided on pages 17 and 18 of the narrative. A sampling of these features include: 1. Allocations for future installation of solar panels on the north building roof; 2. Allocations for electric vehicle charging stations; 3. LED fixtures throughout; 4. Low-E windows and doors; 5. Low-Flow Showerheads; 6. Low Flow Faucets; 7. Pervious landscape materials; Staff Report – Paravel Apartments August 22, 2019 Page 9 9 8. Green roofing trays over portion of concrete podium construction; 9. Rainwater catchment tanks for landscape irrigation re-use; 10. Native planting species; 11. Separate trash and recycle chutes; 12. Individually regulated heating and air conditioning units; 13. Occupancy sensors for light fixtures; GRADING & DRAINAGE City staff has reviewed the plans submitted and has the following comments to provide. The plans shall be revised consistent with the comments below prior to 1st reading at City Council. 1. The Stormwater Management Plan states that the volume management for Outlot A through the stormwater reuse systems and biofiltration/infiltration basin is 5,350 cubic feet (ft3). This falls short of the City’s volume management goal of 1.0 inch times the impervious surface (9,442 ft3). The volume management goal is also not met when the entire proposed development including Lot 1 is included. While the City recognizes that the soils on Outlot A and Lot 1 are largely not conducive to infiltration and there is limited area for irrigation, there is not sufficient detail from the narrative to address whether the proposed BMPs provide volume management to maximum extent practicable. The following topics need to be addressed in order for the City to further evaluate the volume management for Outlot A:  Additional narrative describing whether the infiltration portion of the basin provides infiltration benefit for Outlot A or just for Lot 1. If it does provide volume management, quantify the amount applicable to Outlot A versus Lot 1.  The Green Infrastructure Analysis and PUD and Site Plan Review for Castle Ridge Phase II indicate that pervious paver and green roof BMPs are proposed for Outlot A. However, the volume management, water quality benefits, and functionality (i.e. infiltration vs. filtration) of these BMPs are not addressed in the Stormwater Management Plan report. Furthermore, there are no details of these BMPs included in the Site Plan Review. Please provide design details and quantify the water quality and, if applicable, volume management benefits of these BMPs and any additional BMPs that could be incorporated into the Site.  The wetland buffer area is included in the irrigation area shown in Sheet A 1.8. This area has native wetland restoration seeding and does not seem like it requires long- term irrigation. The irrigation system should not extend into the buffer, and this area should be removed from the volume management calculations. 2. Compute the 100-year elevation in the reuse system to demonstrate it does not surcharge to surface. 3. Calculate time of concentrations using the methods specified in USDA TR-55 Urban Hydrology for Small Watersheds. 4. The grading plan must clearly label the top and base elevations of all retaining walls proposed. Staff Report – Paravel Apartments August 22, 2019 Page 10 10 5. The proposed retaining wall adjacent to the CVS driveway must be constructed a minimum of 2’ from the back of curb. Construction of the retaining wall may impact the use of the driveway while being constructed. 6. More detail is needed for the retaining wall, pavers, signs, utility services, hydrant, etc. at the Prairie Center Drive intersection. The retaining wall as shown is in the drainage and utility easement as well as the landscape pavers. 7. The grading plan does not show how the existing grades/contours adjacent to Prairie Center Drive or the driveway adjacent to CVS (no existing contours are on the grading plan at all). Grading and drainage information for the tie in of the project to the Prairie Center Drive boulevard is critical to understand how this area will look. Grading information for this area must be provided prior to the project being presented to the City Council for review. UTILITIES Sanitary sewer and water service sizes must be indicated on the utility plan. The sanitary sewer and water services are shown extending through the retaining wall adjacent to the monument sign. The plans should be revised to remove this conflict. PLANNED UNIT DEVELOPMENT WAIVERS The purpose of a Planned Unit Development (PUD) as stated in the City Code is to provide for a more creative and efficient approach to the use of land within the City; to allow variety in the types of environment available to people and distribution of overall density of population and intensity of land use where desirable and feasible; and provide for greater creativity and flexibility in environmental design. As a part of the PUD process, the applicant is seeking waivers to City Code requirements for proposed Lot 1 as outlined below. 1. Density from 17.4 units per acre to 49.3 units per acre. The RM2.5 zoning district allows 17.4 dwelling units per acre. This project proposes a total of 245 units and 1 guest suite on 4.962 acres for a total of 49.3 units per acre. The density proposed is consistent with the Comprehensive Plan. 2. Gross Site Area from 2,500 square feet per unit to 878 square feet per unit. City Code requires the total area of the proposed lot to be 2,500 square feet per unit or 615,000 square feet. The site is 4.962 acres or 216,154 square feet. The density proposed is consistent with the Comprehensive Plan. 3. Building height from 45 feet to 83 feet 7 inches at its highest point. The Paravel apartment building is proposed at 7 stories at its highest. The additional height allows the building to meet the densities outlined in the Comprehensive Plan. Staff Report – Paravel Apartments August 22, 2019 Page 11 11 4. Front yard setback along Prairie Center Drive from 35 feet to 12 feet to 22 feet. Prairie Center Drive is a public street so this property line is a front yard requiring a 35 foot setback. The building provides for an architectural design that provides for variation in the facades which leads to a varying setback along this frontage. Reducing the setback along this roadway provides for additional area to be provided for surface parking and group usable open space between the 5 story and 7 story portions of the building. 5. Side yard setback from 25 feet to 13 feet to 25 feet. City Code requires a side yard setback of 25 feet. Due to the unique configuration of the property line, there is a point intrusion at the northwest corner of the building that provides for a setback of approximately 13 feet. For the remainder of this façade, the typical setback ranges from 20 to 25 feet. Reducing this setback also allows for space to maintain parking counts and group usable open space between the 5 story and 7 story portions of the building. 6. Group Usable Open Space from 600 square feet per unit to 134 square feet per unit. The proposed project includes indoor and outdoor spaces suitable for people to recreate and socialize. The indoor spaces include areas such as community rooms, fitness centers, garden areas, theatre, and party rooms. The outdoor spaces include terraces (including rooftop terraces), firepit area and swimming pool that include amenities as noted in the narrative. The project provides a variety of opportunities for residents of varying abilities and mobility levels to recreate and socialize. 7. Parking from 490 parking stalls 425 parking stalls. There are 358 underground parking spaces and 67 surface parking spaces proposed on the site plan. City Code requires 2 parking spaces per unit. The proposal provides for 1.73 parking stalls per unit. Given the unit mix that includes 29 studio units and 87 1 Bedroom units, the proposed parking may be appropriate. 8. Landscaping less than the 914 caliper inches required by City Code. The plan currently depicts approximately 450 caliper inches. However, as noted earlier in this report, there are several revisions that need to be addressed prior to providing a final landscaping calculation. In addition, there is landscaping proposed such as landscape beds and planting containers that have not been included in the overall calculation based on City Code requirements. The landscaping plan provides a robust variety of plant materials that provide color and interest. The amount of landscaping provided on site is appropriate and sustainable over the long term. The additional information as requested in this memo shall be provided in order to accurately calculate the requested waiver. STAFF RECOMMENDATION Recommend approval of the following request: Staff Report – Paravel Apartments August 22, 2019 Page 12 12  Planned Unit Development Concept Review on 4.962 acres  Planned Unit Development District Review with waivers on 4.962 acres  Site Plan Review on 4.962 acres  Preliminary Plat of an outlot into 1 lot on 4.962 acres This is based on plans stamp dated August 16, 2019, staff report dated August 22, 2019 and the following conditions: Prior to review by the City Council, the following items shall be addressed: 1. The plans shall be revised to reflect the changes noted in the staff report related to the wetland and conservation easement areas. 2. The preliminary plat shall be revised to include standard 10 foot drainage and utility easements along the entire length of the lot adjacent to Columbine Road. 3. The plans shall be revised to reflect the changes noted in the staff report related to the grading and drainage plans. 4. The plans shall be revised to relocate the proposed monument sign and bike parking outside of the drainage and utility easement/right of way areas. 5. The plans shall be revised to address the changes noted in the staff report related to the sidewalks along Prairie Center Drive. 6. The group usable open space table shall be updated to provide the entry terrace areas as outdoor group usable open space area. 7. The tree replacement and landscape plans shall be revised to reflect the changes noted in the staff report. 8. The plans shall be revised to comply with the Class I/Class II building materials on all building facades. 9. The plans shall be revised to include sanitary sewer and water service sizes on the utility plans and to revise the water services extending through the retaining wall. Prior to issuance of a land alteration permit, the following items will need to be addressed: 1. Submit detailed storm water runoff, wetland, utility, street and erosion control plans for review and approval by the City Engineer. 2. Obtain and provide documentation of Watershed District approval. 3. Notify the City and Watershed District 48 hours in advance of grading. 4. Install erosion control at the grading limits of the property for review and approval by the City. Prior to issuance of a building permit the following items will need to be addressed: 1. Pay the appropriate cash park fees. 2. Submit a landscaping letter of credit, or escrow surety equivalent to 150% of the cost of the landscaping Staff Report – Paravel Apartments August 22, 2019 Page 13 13 Prior to release of the final plat, the applicant shall: 1. Pay the appropriate tree replacement fees. The following waivers are granted through the PUD for the project as indicated in the plans stamp dated August 16, 2019. 1. Density from 17.4 units per acre to 49.3 units per acre. 2. Gross Site Area from 2,500 square feet per unit to 878 square feet per unit. 3. Building height from 45 feet to 83 feet 7 inches at its highest point. 4. Front yard setback along Prairie Center Drive from 35 feet to 12 feet to 22 feet. 5. Side yard setback from 25 feet to 13 feet to 25 feet. 6. Group Usable Open Space from 600 square feet per unit to 134 square feet per unit 7. Parking from 490 parking stalls 425 parking stalls 8. Landscaping less than the 914 caliper inches required by City Code. ¯ Aerial Map: Paravel Apartments Address: 635 Prairie Center Drive Eden Prairie, Minnesota Castlemoor Drive FlyingCloudDrivePrairie CenterDrive ColumbineDriveCom m o n wealt h D r i v e Regional Center D rive 0 210 420105 Feet Project Site Paravel Apartments Streams Principal Arterial A Minor Arterial B Minor Arterial Major Collector Minor Collector City of Eden Prairie Land Use Guide Plan Map 2000-2030 ¯ DISCLAIMER: The City of Eden Prairie does not warrant the accuracy nor the correctnessof the information contained in this map. It is your responsibility to verify the accuracyof this information. In no event will The City of Eden Prairie be liable for any damages,including loss of business, lost profits, business interruption, loss of business informationor other pecuniary loss that might arise from the use of this map or the information itcontains. Map information is believed to be accurate but accuracy is not guaranteed.Any errors or omissions should be reported to The City of Eden Prairie.M:\GIS\Users\Departments\CommDev\Themes\Shapes\Zoning and all other land use information\OfficialMaps\OfficialGuidePlan.mxd Map was Updated/Created: April 18, 2008 DATE Revised 02-23-06 DATE Approved 03-19-03DATE Revised 01-07-05DATE Revised 11-07-05 DATE Revised 03-23-06DATE Revised 06-23-06 DATE Revised 12-06-06DATE Revised 03-01-07DATE Revised 06-01-07DATE Revised 10-01-07DATE Revised 03-01-08DATE Revised 03-01-09 Guide Plan Map: Paravel Apartments Address: 635 Prairie Center Drive Eden Prairie, Minnesota Rural Residential 0.10 Units/Acre Low Density Residential 0-2.5 Units/Acre Low Density/Public/Open Space Medium Density residential 2.5-10 Units/Acre Medium Density Residential/Office High Density Residential 10-40 Units/Acre Airport Office Office/Industrial Office/Public/Open Space Industrial Neighborhood Commercial Community Commercial Regional Commercial Town Center Park/Open Space Public/Quasi-Public Golf Course Church/ Cemetary Open Water Right-Of-Way CityLimits 250 0 250125 FeetCOLUMBINEDRIVECASTLEMOORDRIVEFLYINGCLOU DDRIVEPRAIRIE CENTER D RIVE C O M M ONW E A LTHDRIVEREGIONAL CENTER DRIVE CRYSTALVIEWROADProject Site Paravel Apartments City of Eden Prairie Zoning Map In case of discrepency related to a zoning classification on this zoning map, the Ordinanceand attached legal description on file at Eden Prairie City Center will prevail. ¯ Shoreland Management Classifications 100 - Year Floodplain Natural Environment Waters Recreational Development Waters General Development Waters (Creeks Only)GD NE RD Up dated through approved Ordinances #26-2008 Ordinance #33-2001 (BFI Addition) approved, but not shown on this map edition Date: March 1, 2009 0 0.10.05 Miles DISCLAIMER: The City of Eden Prairie does not warrant the accuracy nor the correctnessof the information contained in this map. It is your responsibility to verify the accuracyof this information. In no event will The City of Eden Prairie be liable for any damages,including loss of business, lost profits, business interruption, loss of business informationor other pecuniary loss that might arise from the use of this map or the information itcontains. Map information is believed to be accurate but accuracy is not guaranteed.Any errors or omissions should be reported to The City of Eden Prairie.M:\GIS\Users\Departments\CommDev\Themes\Shapes\Zoning and all other land use information\OfficialMaps\OfficialZoning.mxd Map was Updated/Created: June 11, 2008 Zoning Map - Paravel Apartments Address: 635 Prairie Center Drive Eden Prairie, MN 55344 Rural R1-44 One Family- 44,000 sf. min. R1-22 One Family-22,000 sf min. R1-13.5 One Family-13,500 sf min. R1-9.5 One Family-9,500 sf min. RM-6.5 Multi-Family-6.7 U.P.A. max. RM-2.5 Multi-Family-17.4 U.P.A. max. Office Neighborhood Commercial Community Commercial Highway Commercial Regional Service Commercial Regional Commercial TC-C TC-R TC-MU Industrial Park - 2 Acre Min, Industrial Park - 5 Acre Min. General Industrial - 5 Acre Min. Public Golf Course Water Right of Way CityLimitsCOLUMBINEDRIVECASTLEMOOR DRIVE FLYINGCLOUDDRIVEPRAIRIE CENTE R D RIVE C O M M ONW E A LTHDRIVEREGIONAL CENTER DRIVE CRYSTALVIEWRDProject Site Paravel Apartments TO: Planning Commission FROM: Jonathan Stanley, Housing & Community Services Manager DATE: August 22, 2019 SUBJECT: Paravel Apartments REQUEST: Adopt the resolution finding that a modification to the redevelopment plan for redevelopment project area no. 5 and a tax increment financing plan for tax increment financing district no. 24 - Paravel conform to the general plans for the development and redevelopment of the city. Background Timberland Partners’ proposed Paravel project is requesting Tax Increment Financing (TIF) Assistance from the City. This request will necessitate creation of a new TIF district that will be known as TIF District #24 – Paravel. Along with creation of the new TIF district, the boundaries of the City’s Redevelopment Project Area #5 will be expanded to be coterminous with the City’s corporate boundaries. One of the required findings for creation of a new TIF district and/or expansion of a Project Area is that the proposed project and TIF Plan conform to the general plans for the development and redevelopment of the City as a whole. The proposed TIF plan is attached for review. Passage of this resolution will serve as documentation of the required finding. The scope of this finding limited to the Plan’s conformance with general plans for development and redevelopment of the City. The finding is not an endorsement of the financial considerations associated with creation of the new TIF district. PLANNING COMMISSION CITY OF EDEN PRAIRIE, MINNESOTA RESOLUTION NO. 2019-01 RESOLUTION OF THE CITY OF EDEN PRAIRIE PLANNING COMMISSION FINDING THAT A MODIFICATION TO THE REDEVELOPMENT PLAN FOR REDEVELOPMENT PROJECT AREA NO. 5 AND A TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 24 - PARAVEL CONFORM TO THE GENERAL PLANS FOR THE DEVELOPMENT AND REDEVELOPMENT OF THE CITY WHEREAS, the City of Eden Prairie (the "City") has proposed to adopt a Modification to the Redevelopment Plan for Redevelopment Project Area No. 5 (the "Project Area Modification") and a Tax Increment Financing Plan for Tax Increment Financing District No. 24 - Paravel (the "TIF Plan") therefor (the Project Area Modification and the TIF Plan are referred to collectively herein as the "Modification and Plan") and has submitted the Modification and Plan to the City Planning Commission (the "Commission") pursuant to Minnesota Statutes, Section 469.175, Subd. 3; and WHEREAS, the boundaries of Redevelopment Project Area No. 5 are being expanded to be coterminous with the City’s corporate boundaries; and WHEREAS, the Commission has reviewed the Modification and Plan to determine their conformity with the general plans for the development and redevelopment of the City as described in the comprehensive plan for the City. NOW, THEREFORE, BE IT RESOLVED by the Commission that the Modification and Plan conform to the general plans for the development and redevelopment of the City as a whole. ADOPTED by the Eden Prairie Planning Commission on August 26, 2019. __________________________ Ed Farr, Acting Chair ATTEST: __________________________ Commissioner MODIFICATION TO THE REDEVELOPMENT PLAN Redevelopment Project Area No. 5 - AND - TAX INCREMENT FINANCING PLAN Establishment of Tax Increment Financing District No. 24 - Paravel (a housing district) Eden Prairie Housing and Redevelopment Authority City of Eden Prairie, Hennepin County, Minnesota Public Hearing: September 17, 2019 City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 2 Table of Contents Modification to the Redevelopment Plan for Redevelopment Project Area No. 5 ......................... 3 Foreword ................................................................................................................................... 3 Boundaries of Project Area No. 5.............................................................................................. 3 Tax Increment Financing Plan for Tax Increment Financing District No. 24 - Paravel ................. 4 Foreword ................................................................................................................................... 4 Statutory Authority .................................................................................................................... 4 Statement of Objectives ............................................................................................................ 4 Redevelopment Plan Overview ................................................................................................. 4 Pursuant to the Redevleopment Plan and authorizing state statutes, the HRA and City are authorized to undertake the following activities in the District: .................................................. 4 Description of Property in the District and Property to be Acquired .......................................... 5 Classification of the District ....................................................................................................... 6 Duration and First Year of Tax Increment of the District ........................................................... 7 Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements ....................................................................... 7 Sources of Revenue/Bonds to be Issued .................................................................................. 8 Uses of Funds ........................................................................................................................... 9 Estimated Impact on Other Taxing Jurisdictions ..................................................................... 10 Supporting Documentation ..................................................................................................... 11 Administration of the District ................................................................................................... 12 Appendix A: Map of Redevelopment Project Area No. 5 and the TIF District ......................... 13 Appendix B: Estimated Cash Flow for the District ................................................................... 14 Appendix C: Findings Including But For Qualifications ........................................................... 15 City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 3 Modification to the Redevelopment Plan for Redevelopment Project Area No. 5 Foreword The following text represents a Modification to the Redevelopment Plan for Redevelopment Project Area No. 5. This modification represents a continuation of the goals and objectives set forth in the Redevelopment Plan for Redevelopment Project Area No. 5. Generally, the substantive changes include the establishment of Tax Increment Financing District No. 24 - Paravel. For further information, a review of the Redevelopment Plan for Redevelopment Project Area No. 5 is recommended. It is available from the Community Development Director at the City of Eden Prairie. Other relevant information is contained in the Tax Increment Financing Plans for the Tax Increment Financing Districts located within Redevelopment Project Area No. 5. Boundaries of Project Area No. 5 The boundaries of Redevelopment Project Area No. 5 are being expanded to be coterminous with the coterminous with the City of Eden Prairie’s corporate boundaries. City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 4 Tax Increment Financing Plan for Tax Increment Financing District No. 24 - Paravel Foreword The Housing and Redevelopment Authority in and for the City of Eden Prairie (the “HRA”), the City of Eden Prairie (the "City") staff and consultants have prepared the following information to expedite the establishment of Tax Increment Financing District No. 24 - Paravel (the "District"), a housing tax increment financing district, located in Redevelopment Project Area No. 5. Statutory Authority Within the City, there exist areas where public involvement is necessary to cause development or redevelopment to occur. To this end, the HRA and the City have certain statutory powers pursuant to Minnesota Statutes ("M.S."), Sections 469.124 to 469.134, inclusive, as amended, and M.S., Sections 469.174 to 469.1794, inclusive, as amended (the "Tax Increment Financing Act" or "TIF Act"), to assist in financing public costs related to this project. This section contains the Tax Increment Financing Plan (the "TIF Plan") for the District. Other relevant information is contained in the Modification to the Redevelopment Plan for Redevelopment Project Area No. 5. Statement of Objectives The District currently consists of portions of two parcels of land (identified by 27 parcel numbers) and adjacent and internal rights-of-way. The District is being created to facilitate the development of 246 units of rental housing, of which 50 units (20%) will be affordable to households at or below 50% of the area median income. The HRA anticipates entering into an agreement with Timberland Partners, Inc. as the developer of the project. Development is anticipated to begin in 2020. This TIF Plan is expected to achieve many of the objectives outlined in the Redeveloment Plan for Redevelopment Project Area No. 5. The activities contemplated in the Modification to the Redeveloment Plan and the TIF Plan do not preclude the undertaking of other qualified development or redevelopment activities. These activities are anticipated to occur over the life of Redevelopment Project Area No. 5 and the District. Redevelopment Plan Overview Pursuant to the Redevleopment Plan and authorizing state statutes, the HRA and City are authorized to undertake the following activities in the District: 1. Property to be Acquired - Selected property located within the District may be acquired by the HRA and City and is further described in this TIF Plan. 2. Relocation - Relocation services, to the extent required by law, are available pursuant to M.S., Chapter 117 and other relevant state and federal laws. City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 5 3. Upon approval of a developer's plan relating to the project and completion of the necessary legal requirements, the HRA or City may sell to a developer selected properties that it may acquire within the District or may lease land or facilities to a developer. 4. The HRA or City may perform or provide for some or all necessary acquisition, construction, relocation, demolition, and required utilities and public street work within the District. Description of Property in the District and Property to be Acquired Upon certification, the District will have the boundaries outlined in the map in Appendix A plus adjacent rights-of-way and abutting roadways. The parcel shown in the map is comprised of portions of two larger parcels currently occupied by multifamily housing and a vacant and largely undevelopable outlot occupied by wetlands. These two larger parcels are identified by the following 27 parcel numbers. The property is currently being re-platted as Outlot 1, Castle Ridge 3rd Addition. Prior to construction of the project and certification of the District, The parcel will be re-platted and the new legal description will be Lot 1, Block 1, Castle Ridge 4th Addition. City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 6 The HRA or City may acquire any parcel within the District including interior and adjacent street rights of way. Any properties identified for acquisition will be acquired by the HRA or City only in order to accomplish one or more of the following: storm sewer improvements; provide land for needed public streets, utilities and facilities; carry out land acquisition, site improvements, clearance and/or development to accomplish the uses and objectives set forth in this plan. The HRA or City may acquire property by gift, dedication, condemnation or direct purchase from willing sellers in order to achieve the objectives of this TIF Plan. Such acquisitions will be undertaken only when there is assurance of funding to finance the acquisition and related costs. Classification of the District The HRA and City, in determining the need to create a tax increment financing district in accordance with M.S., Sections 469.174 to 469.1799, as amended, inclusive, find that the District, to be established, is a housing district pursuant to M.S., Section 469.174, Subd. 11 and M.S., Section 469.1761. ▪ The District consists of portions of two larger parcels identified by 27 parcel numbers listed Parcel number Address Owner 1411622320066 635 Prairie Center Drive, #201 Castle Ridge Apts 1411622320078 635 Prairie Center Drive, #213 Castle Ridge Apts 1411622320083 635 Prairie Center Drive, #218 Castle Ridge Apts 1411622320093 635 Prairie Center Drive, #229 Castle Ridge Apts 1411622320125 635 Prairie Center Drive, #300 Castle Ridge Apts 1411622320195 635 Prairie Center Drive, #410 Castle Ridge Apts 1411622320207 635 Prairie Center Drive, #423 Castle Ridge Apts 1411622320249 635 Prairie Center Drive, #G5 Castle Ridge Apts 1411622320272 635 Prairie Center Drive, #28 Castle Ridge Apts 1411622320273 635 Prairie Center Drive, #500 Castle Ridge Apts 1411622320279 635 Prairie Center Drive, #226 Castle Ridge Apts 1411622320280 635 Prairie Center Drive, #312 Castle Ridge Apts 1411622320285 635 Prairie Center Drive, #314 Castle Ridge Apts 1411622320286 635 Prairie Center Drive, #224 Castle Ridge Apts 1411622320289 635 Prairie Center Drive, #222 Castle Ridge Apts 1411622320290 635 Prairie Center Drive, #305 Castle Ridge Apts 1411622320292 635 Prairie Center Drive, #408 Castle Ridge Apts 1411622320293 635 Prairie Center Drive, #412 Castle Ridge Apts 1411622320295 635 Prairie Center Drive, #427 Castle Ridge Apts 1411622320299 635 Prairie Center Drive, #150 Castle Ridge Apts 1411622320306 635 Prairie Center Drive, #159 Castle Ridge Apts 1411622320307 635 Prairie Center Drive Castle Ridge Apts 1411622320310 Unassigned Castle Ridge Apts 1411622320311 Unassigned Castle Ridge Apts 1411622320312 Unassigned Castle Ridge Apts 1411622320313 Unassigned Castle Ridge Apts 1411622320319 Unassigned Presbyterian Homes City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 7 above. ▪ The development will consist of 246 units of multi-family rental housing ▪ 20% of the units will be occupied by person with incomes less than 50% of median income ▪ There is no planned commercial area in the property, so it meets the requirement that no more than 20 percent of the square footage of the building that is receiving assistance from tax increment consists of commercial, retail or other non-residential uses. Pursuant to M.S., Section 469.176, Subd. 7, the District does not contain any parcel or part of a parcel that qualified under the provisions of M.S., Sections 273.111, 273.112, or 273.114 or Chapter 473H for taxes payable in any of the five calendar years before the filing of the request for certification of the District. Duration and First Year of Tax Increment of the District Pursuant to M.S., Section 469.175, Subd. 1, and Section 469.176, Subd. 1, the duration and first year of tax increment of the District must be indicated within the TIF Plan. Pursuant to M.S., Section 469.176, Subd. 1b., the duration of the District will be 25 years after receipt of the first increment by the City (a total of 26 years of tax increment). The HRA and City elect to receive the first tax increment in 2022, which is no later than four years following the year of approval of the District. Thus, it is estimated that the District, including any modifications of the TIF Plan for subsequent phases or other changes, would terminate after 2047, or when the TIF Plan is satisfied. The HRA and City reserve the right to decertify the District prior to the legally required date. Original Tax Capacity, Tax Rate and Estimated Captured Net Tax Capacity Value/Increment and Notification of Prior Planned Improvements Pursuant to M.S., Section 469.174, Subd. 7 and M.S., Section 469.177, Subd. 1, the Original Net Tax Capacity (ONTC) as certified for the District will be based on the market values placed on the property by the assessor in 2019 for taxes payable 2020. Pursuant to M.S., Section 469.177, Subds. 1 and 2, the County Auditor shall certify in each year (beginning in the payment year 2021) the amount by which the original value has increased or decreased as a result of: 1. Change in tax exempt status of property; 2. Reduction or enlargement of the geographic boundaries of the district; 3. Change due to adjustments, negotiated or court-ordered abatements; 4. Change in the use of the property and classification; 5. Change in state law governing class rates; or 6. Change in previously issued building permits. In any year in which the current Net Tax Capacity (NTC) value of the District declines below the ONTC, no value will be captured, and no tax increment will be payable to the HRA or City. The original local tax rate for the District will be the local tax rate for taxes payable 2020, assuming the request for certification is made before June 30, 2020. The ONTC and the Original Local Tax City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 8 Rate for the District appear in the table below. Pursuant to M.S., Section 469.174 Subd. 4 and M.S., Section 469.177, Subd. 1, 2, and 4, the estimated Captured Net Tax Capacity (CTC) of the District, within Redevelopment Project Area No. 5, upon completion of the projects within the District, will annually approximate tax increment revenues as shown in the table below. The HRA and City request 100 percent of the available increase in tax capacity for repayment of its obligations and current expenditures, beginning in the tax year payable 2022. The Project Tax Capacity (PTC) listed is an estimate of values when the projects within the District are completed. Note: Tax capacity includes a 3.0% inflation factor for the duration of the District. The tax capacity included in this chart is the estimated tax capacity of the District in year 25. The tax capacity of the District in year one is estimated to be $572,931. Pursuant to M.S., Section 469.177, Subd. 4, the HRA and City shall, after a due and diligent search, accompany its request for certification to the County Auditor or its notice of the District enlargement pursuant to M.S., Section 469.175, Subd. 4, with a listing of all properties within the District or area of enlargement for which building permits have been issued during the eighteen (18) months immediately preceding approval of the TIF Plan by the municipality pursuant to M.S., Section 469.175, Subd. 3. The County Auditor shall increase the original net tax capacity of the District by the net tax capacity of improvements for which a building permit was issued. The City has reviewed the area to be included in the District and determined no building permits have been issued during the 18 months immediately preceding approval of the TIF Plan by the City. Sources of Revenue/Bonds to be Issued The costs outlined in the Uses of Funds will be financed primarily through the annual collection of tax increments. The HRA and City reserve the right to incur bonds or other indebtedness as a result of the TIF Plan. As presently proposed, the project within the District will be financed by a pay-as-you-go note and interfund loan. Any refunding amounts will be deemed a budgeted cost without a formal TIF Plan Modification. This provision does not obligate the HRA or City to incur debt. The HRA or City will issue bonds or incur other debt only upon the determination that such action is in the best interest of the City. The total estimated tax increment revenues for the District are shown in the table below: Project estimated Tax Capacity upon completion $1,552,867 Original estimated Net Tax Capacity $53,858 Fiscal Disparities $0 Estimated Captured Tax Capacity $1,499,009 Original Local Tax Rate 105.0610%Pay 2019 Estimated Annual Tax Increment $1,574,874 Percent Retainted by the City 100% Project Tax Capacity City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 9 The HRA or City may issue bonds (as defined in the TIF Act) secured in whole or in part with tax increments from the District in a maximum principal amount of $20,000,633. Such bonds may be in the form of pay-as-you-go notes, revenue bonds or notes, general obligation bonds, or interfund loans. This estimate of total bonded indebtedness is a cumulative statement of authority under this TIF Plan as of the date of approval. Uses of Funds Currently under consideration for the District is a proposal to facilitate 246 units of mixed income rental housing of which 50 units (20%) will be affordable to households at or below 50% of the area median income. The HRA and City have determined that it will be necessary to provide assistance to the project for certain District costs, as described. The HRA and City have studied the feasibility of the development or redevelopment of property in and around the District. To facilitate the establishment and development or redevelopment of the District, this TIF Plan authorizes the use of tax increment financing to pay for the cost of certain eligible expenses. The estimate of public costs and uses of funds associated with the District is outlined in the following table. The total project cost, including financing costs (interest) listed in the table above does not exceed the total projected tax increments for the District as shown in the Sources of Revenue section. Fiscal Disparities Election Pursuant to M.S., Section 469.177, Subd. 3, the City may elect one of two methods to calculate fiscal disparities. The City will choose to calculate fiscal disparities by clause b (inside the District). It is not anticipated that the District will contain commercial / industrial property. As a result, there should SOURCES Tax Increment 28,289,612 Interest 2,828,961 TOTAL 31,118,573 USES Land/Building Acquisition 3,500,000 Site Improvements/Preparation 1,500,000 Affordable Housing 11,000,000 Utilities 500,000 Other Qualifying Improvements 671,672 Administrative Costs (up to 10%)2,828,961 PROJECT AND INTEREST COSTS TOTAL 20,000,633 Interest 11,117,940 PROJECT AND INTEREST COSTS TOTAL 31,118,574 City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 10 be no impact on the District due to the fiscal disparities provision. Estimated Impact on Other Taxing Jurisdictions The estimated impact on other taxing jurisdictions assumes that the redevelopment contemplated by the TIF Plan would occur without the creation of the District. However, the HR and City have determined that such development or redevelopment would not occur "but for" tax increment financing and that, therefore, the fiscal impact on other taxing jurisdictions is $0. The estimated fiscal impact of the District would be as follows if the "but for" test was not met: The estimates listed above display the captured tax capacity when all construction is completed. The tax rate used for calculations is the Pay 2019 rate. The total net capacity for the entities listed above are based on Pay 2019 figures. The District will be certified under the Pay 2020 rates, which were unavailable at the time this TIF Plan was prepared. Pursuant to M.S. Section 469.175 Subd. 2(b): (1) Estimate of total tax increment. It is estimated that the total amount of tax increment that will be generated over the life of the District is $28,289,612; (2) Probable impact of the District on city provided services and ability to issue debt. A minimal impact of the District on police protection is expected. The proposed development of approximately 246 units is replacing a housing complex with 245 units, so the impact additional housing and residents is minimal. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment in vehicles or facilities. Entity 2018/Pay 2019 Total Net Tax Capacity Estimated Captured Tax Capacity (CTC) upon completion Percent of CTC to Entity Total Hennepin County 1,817,980,868 1,499,009 0.0825% City of Eden Prairie 112,559,846 1,499,009 1.3317% ISD No. 272 106,312,479 1,499,009 1.4100% Impact on Tax Base Entity Pay 2019 Extension Rate Percent of Total CTC Potential Taxes Hennepin County 41.86%39.84%1,499,009 627,500 City of Eden Prairie 31.6900%30.16%1,499,009 475,036 ISD No. 272 20.7560%19.76%1,499,009 311,134 Other 10.7540%10.24%1,499,009 161,203 Total 105.0610%100.00%1,499,009 1,574,874 Impact on Tax Rates City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 11 The probable impact of the District on fire protection is not expected to be significant. Typically, new buildings generate few calls, if any, and are of superior construction. The City does not expect that the proposed development, in and of itself, will necessitate new capital investment in vehicles or facilities. The impact of the District on public infrastructure is expected to be minimal. The development is not expected to significantly impact any traffic movements in the area. The current infrastructure for sanitary sewer, storm sewer and water will be able to handle the additional volume generated from the proposed development. Based on the development plans, there are no additional costs associated with street maintenance, sweeping, plowing, lighting and sidewalks. The development in the District is expected to contribute an estimated $1,548,570 in total sanitary sewer (SAC) and water (WAC) connection fees. This includes $611,310 in Metro SAC, $174,660 in City SAC and $762,600 in City WAC. The probable impact of any District general obligation tax increment bonds on the ability to issue debt for general fund purposes is expected to be minimal. It is not anticipated that there will be any general obligation debt issued in relation to this project, therefore there will be no impact on the City's ability to issue future debt or on the City's debt limit. (3) Estimated amount of tax increment attributable to school district levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to school district levies, assuming the school district's share of the total local tax rate for all taxing jurisdictions remained the same, is $5,588,936; (4) Estimated amount of tax increment attributable to county levies. It is estimated that the amount of tax increments over the life of the District that would be attributable to county levies, assuming the county's share of the total local tax rate for all taxing jurisdictions remained the same, is $11,271,846; (5) Additional information requested by the county or school district. The City is not aware of any standard questions in a county or school district written policy regarding tax increment districts and impact on county or school district services. The county or school district must request additional information pursuant to M.S. Section 469.175 Subd. 2(b) within 15 days after receipt of the tax increment financing plan. No requests for additional information from the county or school district regarding the proposed development for the District have been received. Supporting Documentation Pursuant to M.S. Section 469.175, Subd. 1 (a), clause 7 the TIF Plan must contain identification and description of studies and analyses used to make the determination set forth in M.S. Section 469.175, Subd. 3, clause (b)(2) and the findings are required in the resolution approving the District. (i) In making said determination, reliance has been placed upon (1) a detailed analysis and underwriting of the developer’s pro forma; (2) an analysis quantifying the cost of restricting rents on 20% of the units to be affordable to families at 50% of the median City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 12 income; (3) City staff awareness of the feasibility of redeveloping the project site within the District; and (4) City planning documents including the 2017-2020 Strategic Plan for Housing and Economic Development: Community Development Department and Aspire Eden Prairie 2040. (ii) A comparative analysis of estimated market value both with and without establishment of the TIF District and the use of tax increments has been performed. Such analysis is included with the cashflow in Appendix B and indicates that the increase in estimated market value of the proposed development (less the indicated subtractions) exceeds the estimated market value of the site absent the establishment of the TIF District and the use of tax increments. Administration of the District Administration of the District will be handled by the Community Development Director. City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 13 Appendix A: Map of Redevelopment Project Area No. 5 and the TIF District Expanded Project Area #5 and New TIF District #24 ¯0 1 2 30.5 Miles TIF Housing District #24 S IN GLETREELN COLUMBINE RDFLYING CL OUD D R PR A I R I E C E N T E R D R CASTLEMOO RDRSEE INSET ¯ 0 0.25 0.5Miles Legend TIF Housing District #24 Expanded Project Area #5 Boundary Existing Project Area #5 Boundary City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 14 Appendix B: Estimated Cash Flow for the District 8/2/2019 Base Value Assumptions - Page 1 Paravel - No Inflation City of Eden Prairie, MN 246 Unit Multifamily Development with 4d Taxes ASSUMPTIONS AND RATES DistrictType:Housing District Name/Number:24County District #:Exempt Class Rate (Exempt)0.00% First Year Construction or Inflation on Value 2020 Commercial Industrial Preferred Class Rate (C/I Pref.) Existing District - Specify No. Years Remaining First $150,000 1.50% Inflation Rate - Every Year:3.00%Over $150,000 2.00% Interest Rate:4.00%Commercial Industrial Class Rate (C/I)2.00%Present Value Date:1-Aug-21 Rental Housing Class Rate (Rental)1.25% First Period Ending 1-Feb-22 Affordable Rental Housing Class Rate (Aff. Rental) Tax Year District was Certified:Pay 2020 First $150,000 0.75% Cashflow Assumes First Tax Increment For Development:2022 Over $150,000 0.25% Years of Tax Increment 26 Non-Homestead Residential (Non-H Res. 1 Unit) Assumes Last Year of Tax Increment 2047 First $500,000 1.00%Fiscal Disparities Election [Outside (A), Inside (B), or NA]Inside(B)Over $500,000 1.25% Incremental or Total Fiscal Disparities Incremental Homestead Residential Class Rate (Hmstd. Res.) Fiscal Disparities Contribution Ratio 36.8913%Pay 2019 First $500,000 1.00% Fiscal Disparities Metro-Wide Tax Rate 143.9920%Pay 2019 Over $500,000 1.25% Maximum/Frozen Local Tax Rate: 105.061%Pay 2019 Agricultural Non-Homestead 1.00%Current Local Tax Rate: (Use lesser of Current or Max.)105.061%Pay 2019 State-wide Tax Rate (Comm./Ind. only used for total taxes)42.4160%Pay 2019 Market Value Tax Rate (Used for total taxes)0.22951%Pay 2019 Building Total Percentage Tax Year Property Current Class After Land Market Market Of Value Used Original Original Tax Original After Conversion Map ID PID Owner Address Market Value Value Value for District Market Value Market Value Class Tax Capacity Conversion Orig. Tax Cap. 1411622320066 Castle Ridge 635 Prairie Ctr. Dr., #201 36,100 34,500 70,600 0%0 Pay 2020 Rental - - 1 1411622320078 Castle Ridge 635 Prairie Ctr. Dr., #213 36,100 34,500 70,600 0%0 Pay 2020 Rental - - 1411622320083 Castle Ridge 635 Prairie Ctr. Dr., #218 36,100 31,600 67,700 0%0 Pay 2020 Rental - - 1411622320093 Castle Ridge 635 Prairie Ctr. Dr., #229 36,100 31,600 67,700 0%0 Pay 2020 Rental - - 1411622320125 Castle Ridge 635 Prairie Ctr. Dr., #300 36,100 43,100 79,200 0%0 Pay 2020 Rental - - 1411622320195 Castle Ridge 635 Prairie Ctr. Dr., #410 36,100 34,500 70,600 0%0 Pay 2020 Rental - - 1411622320207 Castle Ridge 635 Prairie Ctr. Dr., #423 36,100 74,900 111,000 0%0 Pay 2020 Rental - - 1411622320249 Castle Ridge 635 Prairie Ctr. Dr., #G5 1,000 7,700 8,700 0%0 Pay 2020 Rental - - 1411622320272 Castle Ridge 635 Prairie Ctr. Dr., #28 0 0 0 0%0 Pay 2020 Rental - - 1411622320273 Castle Ridge 635 Prairie Ctr. Dr., #500 0 0 0 0%0 Pay 2020 Rental - - 1411622320279 Castle Ridge 635 Prairie Ctr. Dr., #226 36,100 56,900 93,000 0%0 Pay 2020 Rental - - 1411622320280 Castle Ridge 635 Prairie Ctr. Dr., #312 36,100 82,000 118,100 0%0 Pay 2020 Rental - - 1411622320285 Castle Ridge 635 Prairie Ctr. Dr., #314 36,100 41,200 77,300 0%0 Pay 2020 Rental - - 1411622320286 Castle Ridge 635 Prairie Ctr. Dr., #224 36,100 41,200 77,300 0%0 Pay 2020 Rental - - 1411622320289 Castle Ridge 635 Prairie Ctr. Dr., #222 36,100 49,300 85,400 0%0 Pay 2020 Rental - - 1411622320290 Castle Ridge 635 Prairie Ctr. Dr., #305 36,100 36,700 72,800 0%0 Pay 2020 Rental - - 1411622320292 Castle Ridge 635 Prairie Ctr. Dr., #408 36,100 58,700 94,800 0%0 Pay 2020 Rental - - 1411622320293 Castle Ridge 635 Prairie Ctr. Dr., #412 36,100 69,200 105,300 0%0 Pay 2020 Rental - - 1411622320295 Castle Ridge 635 Prairie Ctr. Dr., #427 36,100 83,200 119,300 0%0 Pay 2020 Rental - - 1411622320299 Castle Ridge 635 Prairie Ctr. Dr., #150 1,299,600 1,354,000 2,653,600 35%936,721 Pay 2020 Rental 11,709 Aff. Rental 7,025 1411622320306 Castle Ridge 635 Prairie Ctr. Dr., #159 1,588,400 1,652,500 3,240,900 35%1,132,176 Pay 2020 Rental 14,152 Rental 14,152 1411622320307 Castle Ridge 635 Prairie Ctr. Dr.1,444,000 1,504,200 2,948,200 35%1,028,922 Pay 2020 Rental 12,862 Rental 12,862 1411622320310 Castle Ridge Unassigned 1,119,100 1,183,100 2,302,200 0%0 Pay 2020 Rental - - 1411622320311 Castle Ridge Unassigned 1,119,100 1,310,100 2,429,200 0%0 Pay 2020 Rental - - 1411622320312 Castle Ridge Unassigned 1,335,700 1,426,800 2,762,500 0%0 Pay 2020 Rental - - 1411622320313 Castle Ridge Unassigned 61,400 412,600 474,000 0%0 Pay 2020 Rental - - 1411622320319 Presbyterian Homes Unassigned 2,114,000 2,114,000 75%1,585,500 Pay 2020 Rental 19,819 Rental 19,819 10,659,900 9,654,100 20,314,000 4,683,319 58,541 53,858Note: 1. Base values for Castle Ridge and Pres. Homes parcels are for pay 2020. Castle Ridge base value allocated to the project is based upon information received from the City Assessor. Project will occupy approximately 75% of Pres. Homes parcel, so 75% of current assessed value for this parcel is used for the district. 2. Located in SD # 272 and WS #4 Tax Rates BASE VALUE INFORMATION (Original Tax Capacity) Area/ Phase Prepared by Ehlers & Associates, Inc. - Estimates Only N:\Minnsota\Eden Prairie\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 24\TIF Runs\TIF Plan Run V2 - TIF Plan 8/2/2019 Base Value Assumptions - Page 2 Paravel - No Inflation City of Eden Prairie, MN 246 Unit Multifamily Development with 4d Taxes Estimated Taxable Total Taxable Property Percentage Percentage Percentage Percentage First Year Market Value Market Value Total Market Tax Project Project Tax Completed Completed Completed Completed Full TaxesArea/Phase New Use Per Sq. Ft./Unit Per Sq. Ft./Unit Sq. Ft./Units Value Class Tax Capacity Capacity/Unit 2020 2021 2022 2023 Payable 1 Apartments 282,100 282,100 196 55,291,600 Rental 691,145 3,526 75%100%100%100%2023 1 Apartments 282,100 282,100 50 14,105,000 Aff. Rental 72,763 1,455 75%100%100%100%2023TOTAL69,396,600 763,908 Subtotal Residential 246 69,396,600 763,908 Subtotal Commercial/Ind.0 0 0 Note: 1. Market values are based upon estimates from the City Assessor. Total Fiscal Local Local Fiscal State-wide Market Tax Disparities Tax Property Disparities Property Value Total Taxes Per New Use Capacity Tax Capacity Capacity Taxes Taxes Taxes Taxes Taxes Sq. Ft./Unit Apartments 691,145 0 691,145 726,124 0 0 126,900 853,024 4,352.16 Apartments 72,763 0 72,763 76,445 0 0 32,372 108,817 2,176.35TOTAL763,908 0 763,908 802,569 0 0 159,272 961,841 Note: 1. Taxes and tax increment will vary significantly from year to year depending upon values, rates, state law, fiscal disparities and other factors which cannot be predicted. Total Property Taxes 961,841less State-wide Taxes 0 less Fiscal Disp. Adj.0 less Market Value Taxes (159,272) less Base Value Taxes (56,584)Annual Gross TIF 745,985 WHAT IS EXCLUDED FROM TIF? TAX CALCULATIONS PROJECT INFORMATION (Project Tax Capacity) Prepared by Ehlers & Associates, Inc. - Estimates Only N:\Minnsota\Eden Prairie\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 24\TIF Runs\TIF Plan Run V2 - TIF Plan 8/2/2019 Tax Increment Cashflow - Page 3 Paravel - No Inflation City of Eden Prairie, MN 246 Unit Multifamily Development with 4d Taxes TAX INCREMENT CASH FLOW Project Original Fiscal Captured Local Annual Semi-Annual State Admin.Semi-Annual Semi-Annual PERIOD % of Tax Tax Disparities Tax Tax Gross Tax Gross Tax Auditor at Net Tax Present ENDING Tax Payment OTC Capacity Capacity Incremental Capacity Rate Increment Increment 0.36%10%Increment Value Yrs.Year Date - - - - 02/01/22 100%572,931 (53,858) - 519,073 105.061%545,343 272,672 (982) (27,169) 244,521 235,026 0.5 2022 08/01/22 100%572,931 (53,858) - 519,073 105.061%545,343 272,672 (982) (27,169) 244,521 465,443 1 2022 02/01/23 100%763,908 (53,858) - 710,050 105.061%745,985 372,993 (1,343) (37,165) 334,485 774,456 1.5 2023 08/01/23 100%763,908 (53,858) - 710,050 105.061%745,985 372,993 (1,343) (37,165) 334,485 1,077,409 2 2023 02/01/24 100%786,825 (53,858) - 732,967 105.061%770,062 385,031 (1,386) (38,365) 345,281 1,384,008 2.5 2024 08/01/24 100%786,825 (53,858) - 732,967 105.061%770,062 385,031 (1,386) (38,365) 345,281 1,684,596 3 2024 02/01/25 100%810,429 (53,858) - 756,572 105.061%794,862 397,431 (1,431) (39,600) 356,400 1,988,780 3.5 2025 08/01/25 100%810,429 (53,858) - 756,572 105.061%794,862 397,431 (1,431) (39,600) 356,400 2,286,999 4 2025 02/01/26 100%834,742 (53,858) - 780,884 105.061%820,405 410,203 (1,477) (40,873) 367,853 2,588,767 4.5 2026 08/01/26 100%834,742 (53,858) - 780,884 105.061%820,405 410,203 (1,477) (40,873) 367,853 2,884,618 5 2026 02/01/27 100%859,785 (53,858) - 805,927 105.061%846,715 423,357 (1,524) (42,183) 379,650 3,183,969 5.5 2027 08/01/27 100%859,785 (53,858) - 805,927 105.061%846,715 423,357 (1,524) (42,183) 379,650 3,477,451 6 2027 02/01/28 100%885,578 (53,858) - 831,720 105.061%873,814 436,907 (1,573) (43,533) 391,801 3,774,387 6.5 2028 08/01/28 100%885,578 (53,858) - 831,720 105.061%873,814 436,907 (1,573) (43,533) 391,801 4,065,500 7 2028 02/01/29 100%912,146 (53,858) - 858,288 105.061%901,726 450,863 (1,623) (44,924) 404,316 4,360,022 7.5 2029 08/01/29 100%912,146 (53,858) - 858,288 105.061%901,726 450,863 (1,623) (44,924) 404,316 4,648,770 8 2029 02/01/30 100%939,510 (53,858) - 885,652 105.061%930,475 465,237 (1,675) (46,356) 417,206 4,940,881 8.5 2030 08/01/30 100%939,510 (53,858) - 885,652 105.061%930,475 465,237 (1,675) (46,356) 417,206 5,227,264 9 2030 02/01/31 100%967,695 (53,858) - 913,837 105.061%960,087 480,043 (1,728) (47,832) 430,484 5,516,967 9.5 2031 08/01/31 100%967,695 (53,858) - 913,837 105.061%960,087 480,043 (1,728) (47,832) 430,484 5,800,990 10 2031 02/01/32 100%996,726 (53,858) - 942,868 105.061%990,587 495,293 (1,783) (49,351) 444,159 6,088,289 10.5 2032 08/01/32 100%996,726 (53,858) - 942,868 105.061%990,587 495,293 (1,783) (49,351) 444,159 6,369,955 11 2032 02/01/33 100%1,026,628 (53,858) - 972,770 105.061%1,022,002 511,001 (1,840) (50,916) 458,245 6,654,856 11.5 2033 08/01/33 100%1,026,628 (53,858) - 972,770 105.061%1,022,002 511,001 (1,840) (50,916) 458,245 6,934,171 12 2033 02/01/34 100%1,057,427 (53,858) - 1,003,569 105.061%1,054,359 527,180 (1,898) (52,528) 472,754 7,216,679 12.5 2034 08/01/34 100%1,057,427 (53,858) - 1,003,569 105.061%1,054,359 527,180 (1,898) (52,528) 472,754 7,493,647 13 2034 02/01/35 100%1,089,149 (53,858) - 1,035,292 105.061%1,087,688 543,844 (1,958) (54,189) 487,697 7,773,768 13.5 2035 08/01/35 100%1,089,149 (53,858) - 1,035,292 105.061%1,087,688 543,844 (1,958) (54,189) 487,697 8,048,396 14 2035 02/01/36 100%1,121,824 (53,858) - 1,067,966 105.061%1,122,016 561,008 (2,020) (55,899) 503,089 8,326,137 14.5 2036 08/01/36 100%1,121,824 (53,858) - 1,067,966 105.061%1,122,016 561,008 (2,020) (55,899) 503,089 8,598,433 15 2036 02/01/37 100%1,155,479 (53,858) - 1,101,621 105.061%1,157,374 578,687 (2,083) (57,660) 518,943 8,873,801 15.5 2037 08/01/37 100%1,155,479 (53,858) - 1,101,621 105.061%1,157,374 578,687 (2,083) (57,660) 518,943 9,143,770 16 2037 02/01/38 100%1,190,143 (53,858) - 1,136,285 105.061%1,193,793 596,896 (2,149) (59,475) 535,273 9,416,774 16.5 2038 08/01/38 100%1,190,143 (53,858) - 1,136,285 105.061%1,193,793 596,896 (2,149) (59,475) 535,273 9,684,426 17 2038 02/01/39 100%1,225,847 (53,858) - 1,171,989 105.061%1,231,304 615,652 (2,216) (61,344) 552,092 9,955,074 17.5 2039 08/01/39 100%1,225,847 (53,858) - 1,171,989 105.061%1,231,304 615,652 (2,216) (61,344) 552,092 10,220,415 18 2039 02/01/40 100%1,262,623 (53,858) - 1,208,765 105.061%1,269,940 634,970 (2,286) (63,268) 569,416 10,488,717 18.5 2040 08/01/40 100%1,262,623 (53,858) - 1,208,765 105.061%1,269,940 634,970 (2,286) (63,268) 569,416 10,751,757 19 2040 02/01/41 100%1,300,501 (53,858) - 1,246,644 105.061%1,309,736 654,868 (2,358) (65,251) 587,259 11,017,722 19.5 2041 08/01/41 100%1,300,501 (53,858) - 1,246,644 105.061%1,309,736 654,868 (2,358) (65,251) 587,259 11,278,471 20 2041 02/01/42 100%1,339,516 (53,858) - 1,285,659 105.061%1,350,726 675,363 (2,431) (67,293) 605,638 11,542,108 20.5 2042 08/01/42 100%1,339,516 (53,858) - 1,285,659 105.061%1,350,726 675,363 (2,431) (67,293) 605,638 11,800,575 21 2042 02/01/43 100%1,379,702 (53,858) - 1,325,844 105.061%1,392,945 696,473 (2,507) (69,397) 624,569 12,061,895 21.5 2043 08/01/43 100%1,379,702 (53,858) - 1,325,844 105.061%1,392,945 696,473 (2,507) (69,397) 624,569 12,318,091 22 2043 02/01/44 100%1,421,093 (53,858) - 1,367,235 105.061%1,436,431 718,215 (2,586) (71,563) 644,067 12,577,105 22.5 2044 08/01/44 100%1,421,093 (53,858) - 1,367,235 105.061%1,436,431 718,215 (2,586) (71,563) 644,067 12,831,040 23 2044 02/01/45 100%1,463,726 (53,858) - 1,409,868 105.061%1,481,221 740,611 (2,666) (73,794) 664,150 13,087,759 23.5 2045 08/01/45 100%1,463,726 (53,858) - 1,409,868 105.061%1,481,221 740,611 (2,666) (73,794) 664,150 13,339,445 24 2045 02/01/46 100%1,507,638 (53,858) - 1,453,780 105.061%1,527,355 763,678 (2,749) (76,093) 684,836 13,593,880 24.5 2046 08/01/46 100%1,507,638 (53,858) - 1,453,780 105.061%1,527,355 763,678 (2,749) (76,093) 684,836 13,843,327 25 2046 02/01/47 100%1,552,867 (53,858) - 1,499,009 105.061%1,574,874 787,437 (2,835) (78,460) 706,142 14,095,491 25.5 2047 08/01/47 100%1,552,867 (53,858) - 1,499,009 105.061%1,574,874 787,437 (2,835) (78,460) 706,142 14,342,710 26 2047 02/01/48 Total 28,391,823 (102,211) (2,828,961) 25,460,651 Present Value From 08/01/2021 Present Value Rate 4.00%15,993,923 (57,578) (1,593,634) 14,342,710 Prepared by Ehlers & Associates, Inc. - Estimates Only N:\Minnsota\Eden Prairie\Housing - Economic - Redevelopment\TIF\TIF Districts\TIF 24\TIF Runs\TIF Plan Run V2 - TIF Plan City of Eden Prairie Tax Increment Financing District No. 24 - Paravel 15 Appendix C: Findings Including But For Qualifications To be added to prior to the public hearing 1 PROJECT PROFILE – AUGUST 26, 2019 PLANNING COMMISSION – AUGUST 26, 2019 1. PARAVEL APARTMENTS (2019-11) by Timberland Partners (JULIE) (CONTINUED PUBLIC HEARING) Proposal for a 246-unit multi-family community as Phase 2 of the Castle Ridge redevelopment project. Location: 635 Prairie Center Dr. Contact: Robert Fransen, 952-843-2040 Request for:  Planned Unit Development Concept Review on 4.962 acres  Planned Unit Development District Review with waivers on 4.962 acres  Site Plan Review on 4.962 acres  Preliminary Plat of an outlot into one lot on 4.962 acres Application Info Planning Commission City Council Date Submitted 05/20/19 Date Complete 07/22/19 120 Day Deadline 11/18/19 Initial DRC review 05/30/19 Notice to Paper Date 07/24/19 Resident Notice Date 07/26/19 Meeting Date 08/12/19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 1st Meeting Date 00/00/19 2nd Meeting Date 00/00/19 CITY COUNCIL PUBLIC HEARING – SEPTEMBER 3, 2019 1. MILLER PROPERTY/HIGHLAND OAKS (2019-13) by Wooddale Builders (JULIE) Proposal for 17 detached single-family homes Location: 7120 Gerard Dr. Contact: Steve Schwieters, 952-345-0543 Request for: Planned Unit Development Concept Review on 9.73 acres Planned Unit Development District Review with waivers on 9.73 acres Zoning District Change from R1-13.5 to R1-9.5 on 9.73 acres Preliminary Plat of one lot into seventeen lots and one outlot on 9.73 acres Application Info Planning Commission City Council Date Submitted 06/07/19 Date Complete 07/08/19 120 Day Deadline 11/04/19 Initial DRC review 06/13/19 Notice to Paper Date 07/24/19 Resident Notice Date 07/26/19 Meeting Date 08/12/19 Notice to Paper Date 08/14/19 Resident Notice Date 08/16/19 1st Meeting Date 09/03/19 2nd Meeting Date 00/00/19 2 CITY COUNCIL CONSENT – SEPTEMBER 3, 2019 1. REASONABLE ACCOMODATIONS POLICY (JULIE) 2. ARBY’S (2019-02) by Arc Vision (JULIE) Proposal for a façade remodel and site improvements at existing location. Location: 560 Prairie Center Dr Contact: Tammy Korte, 314-415-2400 Request for:  Site Plan Review on 1.15 acres Application Info Planning Commission City Council Date Submitted 02/06/19 Date Complete 06/20/19 120 Day Deadline 10/17/19 Initial DRC review 02/14/19 Notice to Paper Date N/A Resident Notice Date N/A Meeting Date N/A Notice to Paper Date 07/2419 Resident Notice Date 07/26/19 1st Meeting Date 08/13/19 2nd Meeting Date 00/00/19 PLANNING COMMISSION – SEPTEMBER 9, 2019 1. COSTCO FUEL FACILITY EXPANSION (2019-12) by Barghausen Consulting Engineers, Inc. (STEVE) (CONTINUED PUBLIC HEARING) Proposal for a fuel facility expansion and site improvements. Location: 12011 Technology Drive. Contact: Julie Anderson, 452-656-7403 Request for:  Planned Unit Development District Amendment with waivers on 18.18 acres  Site Plan Review on 18.18 acres Application Info Planning Commission City Council Date Submitted 06/04//19 Date Complete 06/04/19 120 Day Deadline 12/01/19 Initial DRC review 06/06/19 Notice to Paper Date 07/24/19 Resident Notice Date 07/26/19 Meeting Date 08/12/19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 1st Meeting Date 00/00/19 2nd Meeting Date 00/00/19 2. 10197 EDEN PRAIRIE ROAD (2019-20) by Perry Ryan (JULIE) Proposal for Guide Plan, Zoning Change and MUSA boundary extension Location: 10197 Eden Prairie Road Contact: Perry Ryan, 952-221-3700 3 Request for:  Guide Plan Change from Rural to Low Density Residential on 1.05 acres  Zoning District Change from Rural to R1-13.5 on 1.05 acres  MUSA Boundary Extension on 1.05 acres Application Info Planning Commission City Council Date Submitted 07/19/19 Date Complete 07/19/19 120 Day Deadline 11/15/19 Initial DRC review 07/25/19 Notice to Paper Date 08/21/19 Resident Notice Date 08/23//19 Meeting Date 09/09/19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 1st Meeting Date 00/00/19 2nd Meeting Date 00/00/19 CONSERVATION COMMISSION – SEPTEMBER 10, 2019 HERITAGE PRESERVATION COMMISSION – SEPTEMBER 16, 2019 CITY COUNCIL PUBLIC HEARING – SEPTEMBER 17, 2019 1. CERTIFICATE OF APPROPRIATENESS (COA) AT GLEN LAKE CHILDREN’S CAMP (CONTINUED PUBLIC HEARING) by City of Eden Prairie/ True Friends (LORI) Certificate of Appropriateness (COA) for the maintenance of the Lion’s Den at the Glen Lake Children’s Camp. Location: 6350 Indian Chief Road Contact: Conor McGrath – 952-852-0101 Heritage Preservation Commission City Council CITY COUNCIL CONSENT – SEPTEMBER 17, 2019 1. PARKS REZONING (2019-10) by City of Eden Prairie (BETH) Rezone City owned parks and open space areas to Parks/Open Space Zoning District Contact: Beth Novak-Krebs, 952-949-8490 Request:  Rezone City owned parks and open space parcels that are not currently zoned as such to Parks/ Open Space Notice to Paper Date 06/26/19 Resident Notice Date 06/28/19 Meeting Date 08/19/19 Notice to Paper Date 08/28/19 Resident Notice Date 08/30/19 Meeting Date 09/17/19 4 Application Info Planning Commission City Council Date Submitted 05/01/19 Date Complete N/A 120 Day Deadline N/A Info. Meeting 06/03/19 Notice to Paper Date 07/03/19 Resident Notice Date 07/05/19 Meeting Date 07/22//19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 1st Meeting Date 00/00/19 2nd Meeting Date 00/00/19 2. SOUTHWEST TRANSIT NORTH BUS ENTRY/OFFICE ADDITION (2019-14) by SouthWest Transit. (BETH) Proposal for a building addition to include a bus garage entry at the front of the building and additional office space Location: 14405 W 62nd St Contact: Len Simich, 952-974-3100 Request for:  Planned Unit Development District Amendment on 10.05 acres  Site Plan Review on 10.05 acres Application Info Planning Commission City Council Date Submitted 06/06//19 Date Complete 06/06/19 120 Day Deadline 10/3/19 Initial DRC review 06/13/19 Notice to Paper Date 06/2019 Resident Notice Date 06/2119 Meeting Date 07/08/19 Notice to Paper Date 07/24/19 Resident Notice Date 07/26/19 1st Meeting Date 08/13/19 2nd Meeting Date 00/00/19 IN BUT NOT SCHEDULED 1. RESEARCH RELATED TO FIREARM SALES (2018-13) by City of Eden Prairie (PLANNING STAFF) Research regulations relating to Firearm Sales Contact: Julie Klima, 952-949-8489 Request:  To Research regulations relating to Firearm Sales Application Info Planning Commission City Council Date Submitted 03/16/18 Date Complete 00/00/18 120 Day Deadline N/A Initial DRC review 00/00/18 Notice to Paper Date 00/00/18 Resident Notice Date N/A Meeting Date 00/00/18 Notice to Paper Date 00/00/18 Resident Notice Date 00/00/18 1st Meeting Date 00/00/18 2nd Meeting Date 00/00/18 2. SOUTHWEST STATION PUD AMENDMENT (2015-23) by SW Metro Transit Commission (JULIE) Proposal for additional parking structure at southwest station Contact: Julie Klima, 952-949-8489 Request for: 5  Planned Unit Development District Review with waivers on 11.38 acres  Zoning District Amendment within the Commercial Regional Service Zoning District on 11.38 acres  Site Plan Review on 11.38 acres Application Info Planning Commission City Council Date Submitted 00/00/15 Date Complete 00/00/15 120 Day Deadline 00/00/15 Initial DRC review 00/00/15 Notice to Paper Date 11/19/15 Resident Notice Date 11/20/15 Meeting Date 12/07/15 Notice to Paper Date 12/17/15 Resident Notice Date 12/18/15 1st Meeting Date 01/05/16 2nd Meeting Date 00/00/00 3. 11000 VIKING DRIVE PARKING RAMP (2019-14) by United Properties Development (SARAH) Proposal for a parking structure on top of existing parking lot Location: 11000 Viking Drive Contact: Bill Jundt, 952-893-8664 Request for:  Planned Unit Development District Amendment on 16.2 acres  Site Plan Review on 16.2 acres Application Info Planning Commission City Council Date Submitted 08/02//19 Date Complete 00/00/19 120 Day Deadline 00/00/19 Initial DRC review 08/08/19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 Meeting Date 00/00/19 Notice to Paper Date 00/00/19 Resident Notice Date 00/00/19 1st Meeting Date 00/00/19 2nd Meeting Date 00/00/19 VARIANCES TELECOMMUNICATION