ECONOMIC DEVELOPMENT AUTHORITY- Bryan Schafer, Community Development Director
Title
CONSIDERATION OF THE SALE OF .6562 ACRES OF EDA WETLAND CREDITS TO SUPPORT THE GLEN COVE TOWNHOME DEVELOPMENT (110TH ALIGNMENT AND RADISSON ROAD). DOUG PAULSON DEVELOPMENT.
Background
Doug Paulson is completing the last remaining homes in the Amen Corner townhome development at 109th and Radisson. Mr. Paulson also owns 7.5 acres of vacant land east of Radisson Road at the 110th alignment that is guided as MDR (Medium Density Residential). He is planning to develop a detached villa project that would be similar to Amen Corner with unit types, sizes and price ranges adjusted down slightly to reflect the location and lack of golf course view/exposure.
In developing the site for 19 detached villas there are existing wetlands that have been avoided in the plan but with some wetland fill still needed at the edges. Mr. Paulson has asked to purchase the .6562 acres (2/3 of an acre) of wetland credits from the EDA’s Wetland Bank. This would be the type of wetland credit purchase that would fit nicely in the City’s new wetland bank but unfortunately those credits are not yet available and the developer does not wish to wait unit next spring to begin developing the property.
The proposed wetland impact will require the purchase of 28,584 square feet of credits. At the sales price of $2 per foot the sale would be $57,168 plus the EDA’s out of pocket cost of credit withdrawal (BWSR fees).
The EDA’s Wetland Bank currently has approximately 35 acres available including the 14 acres that will be held in reserve for use by the EDA from the City’s Open Space Bank once those credits are available.
Recommendation
It is recommended that the EDA adopt the Resolution approving the sale of .6562 acres of wetland credits to assist the Glen Cove detached villa project (110th alignment and Radisson Road).
Body
BE IT RESOLVED by the Board of Commissions (the “Board) of the Blaine Economic Development Authority (the “EDA”), as follows:
WHEREAS, it is one of the goals and purposes of the Blaine EDA to improve the community, strengthen the tax base and enhance employment and housing opportunities; and
WHEREAS, Doug Paulson (Developer) will be initiating a 19 unit detached villa project within the City along Radisson Road at the 110th Avenue alignment; and
WHEREAS, the Developer and Coon Creek Watershed District have determined that in order for the project to be feasible there is a need to fill certain wetlands that are located within the project boundary; and
WHEREAS, the project requires the purchase of .6562 acres of wetland credits and the Developer has indicated an interest in purchasing those credits from the EDA’s Wetland Bank.
NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the Blaine Economic Development Authority, City of Blaine, Minnesota, that the President and Executive Director of the Blaine Economic Development Authority are here authorized to execute any and all agreements and documents required for the sale and transfer of .6562 acres of EDA wetland credits at a cost of $2.00 per square foot plus the EDA’s out of pocket cost for withdrawing credits from the wetland bank.
PASSED by the Blaine Economic Development Authority this 16th day of August, 2018.