Woodsonia proposed a $600 million mixed-use development called Veterans Village on city-owned land north of the railroad, telling the council on Nov. 12 the first phase would include a tournament-oriented indoor/outdoor sports complex, an aquatics and fitness facility, initial housing and an expanded Eagle Scout Lake.

Drew Snyder, a Woodsonia principal, said the application in the council packet breaks the master plan into three phases and requests roughly $95 million in Good Life bond proceeds to support phase 1. "This is a $600,000,000 project," Mitch Holland, the project lead for Woodsonia, said during the presentation, describing the full buildout as housing, an amphitheater, a hotel and parks around the expanded lake.

Why it matters: the developers financing relies on a mix of private equity and tax increment and Good Life district proceeds; council members said they are prepared to use public funding to activate the site but want clearer allocations for the public amenities voters expect.

What the plan would include: Woodsonia told the council phase 1 would be roughly $142 million overall, financed by about $47 million in private debt and equity and approximately $95 million in Good Life bond proceeds. The company said Good Life proceeds would be used primarily in the first two phases for horizontal infrastructure, sports facilities and an aquatic center, with housing subsidies intended to generate future property-tax increment (TIF) that could help pay for later infrastructure.

Key numbers and constraints the team cited: the states Good Life statute allows up to 20% of district proceeds to be spent on non-increment (non-revenue-producing) items; the developers proposed using a portion of that limit for housing subsidies and public amenities. Staff flagged one discrete cost the council will decide soon: relocation of an AT&T fiber line to permit the lake expansion, estimated by staff at "about half a million dollars." Woodsonia said earlier bond analyses, adjusted for a recent legislative cap on baseline district revenue, now show roughly $95 million of immediately available bond proceeds for phase 1 (the companys underwriting previously assumed a larger amount).

Land conveyance and clawbacks: Woodsonia asked the city to consider conveying the project land in a single transfer to simplify development. The company said it would accept clawback provisions that allow the city to reacquire the land if contractual milestones are not met.

Council concerns and reception: council members praised the teams Conestoga Marketplace track record but signaled multiple conditions before approving an MOU. Several members said they broadly support subsidizing housing to attract rooftops and create TIF but asked that Good Life allocations be trimmed or reallocated if the aquatic program or other public amenities are undersized. City bond counsel and the developers underwriter said the district now yields a guaranteed $5 million of existing revenues plus new-sales revenue above that cap, and that the underwriting now projects about $95 million in initial proceeds given current rate assumptions and statutory limits.

Next steps: Woodsonia and staff agreed to continue working with the citys underwriter and bond counsel and to return with a memorandum of understanding at the Dec. 2 council meeting. The city will decide whether to support a single land conveyance and will continue refining aquatic and housing allocations in time for the MOU vote.

Provenance: council study session presentation and Q&A; Woodsonia presentation and staff financing briefing.

Ending note: Developers and staff said they will return Dec. 2 with a short MOU that lays out key allocations, timing and clawbacks so the council can decide whether to move from concept into definitive redevelopment agreements.