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HomeMy WebLinkAboutItem 07City of Lakeville Administration Department Memorandum To: Mayor and Members of the City Council From: Allyn G. Kuennen, Assistant City Administrator Copy: Justin Miller, City Administrator Daryl Morey, Planning Director Date: March 20, 2015 Subject: Packet Material for the March 23, 2015 City Council Work Session. Agenda Item: Review of 183rd Street City Owned Property. In the late 1990’s the City of Lakeville acquired 60 acres of land located on the west side of Dodd Boulevard and north of 183rd Street. In 2005 25.24 acres was sold to Lifetime Fitness for the construction of their facility and in 2007 7.5 acres was used for the construction of the Police Station (see attached aerial photo). Approximately 27 acres of the property remains undeveloped with 8.59 acres in greenway/wetland and about 19 acres that are developable. The property is currently zoned RS-2 and RS-3, Single Family Residential. The attached sketch plan was completed when the adjacent Rose Creek development was plated in 2013 and indicates the possibility of the area being developed into 39 lots. Staff is periodically contacted by developers or investors interested in acquiring the property for development. Direction from the City Council during the recession was to retain the property until the real estate market improves. The City has recently been contacted again by several developers interested in the property. Therefore, staff is requesting direction from the City Council regarding the future use or sale of the property. The following options are available for consideration:  Continue to retain the property  Prepare an RFP process to obtain development proposals  Retain a broker to list and sell the property  Staff advertise, list and broker the sale of the property  Prepare a development plan, construct the public improvements and sell finished lots  Others? Staff will be available at the March 23rd City Council work session to review and discuss the above options. If you have any questions before the work session, please contact me at 952-985-4402 or at akuennen@lakevillemn.gov.