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Staff updates River Place TIF discussion, GDP and PIP progress; Slindi project partners with MSP Real Estate
Summary
City staff reported the Community Development Authority (CDA) will meet to continue a TIF assistance request for River Place; staff also said GDP and Phase 1 of the PIP passed council and that the Slindi development is exploring a partnership with MSP Real Estate without changes to the project footprint.
Staff reported that the Community Development Authority (CDA) will meet next Tuesday, the 27th, to continue discussion of the River Place development and a Tax Increment Financing (TIF) assistance request.
Staff said the GDP and Phase 1 of the PIP both passed city council and are moving forward; the next step is continued discussion with CDA regarding financial feasibility and potential TIF assistance. Staff framed the CDA discussion as a financial-feasibility review before any changes proceed on the planning side.
Regarding the Slindi development, staff said the applicant appeared before the CDA last month with a TIF request and has since advanced planning, including a potential partnership with MSP Real Estate, the developer of The Heritage across the street from the project site. Staff said the partnership could add a few more units but would not change the project footprint. Staff characterized the matter as ongoing and recommended CDA consider the financial aspects before planning changes proceed.
No motions or formal decisions on these items were recorded in the meeting transcript; the report section was received as information and no action items or votes on TIF assistance, GDP, PIP modifications or Slindi project changes were recorded in the transcript.
