Roseville EDA approves agreements to clean up and redevelop 1495 Twin Lakes Parkway

The Roseville Economic Development Authority on April 13 unanimously approved two resolutions authorizing agreements and grant arrangements to support redevelopment of 1495 Twin Lakes Parkway, the long-vacant site formerly known as the PIC Terminal.

Jeanne Kelsey, the city's housing and economic development program manager, told the board the EDA previously committed environmental remediation assistance and has received four grants from Ramsey County to support the site. Kelsey said the developer asked the EDA to be the grant awardee for Ramsey County funds to avoid potential tax consequences for the private partner, and staff proposed applying approximately $4,400,000 from EDA environmental cleanup funds collected since the TIF district began in 2008 toward the development agreement.

The packet also includes a collateral‑assignment request from the lender, which would subordinate the development agreement and related security to the bank as part of standard project financing. "The developer has asked the EDA to be the grant awardee beyond the Ramsey County funds in order to mitigate any possible tax consequences," Kelsey said.

Member Schroeder moved to adopt the resolutions; the motion was seconded and the board discussed the site's long history as a brownfield and the community benefits of remediation and reuse. "It's exciting to see this property come to something after so much time being essentially just a brownfield," one supporter said. The board approved both resolutions unanimously.

Pat Trojgen, Roseville's executive director and city manager, reflected on the years of effort and community engagement required to redevelop the Twin Lakes area, noting litigation and economic ups and downs that delayed progress but praising staff and developer persistence. President Rowe acknowledged those efforts and said further steps remain before project completion, including final permitting and financing milestones.

The resolutions authorize the president and executive director to execute the documents needed to accept grant funding, apply EDA cleanup funds toward remediation, and enter the development agreement and related collateral assignment as outlined in the board packet. Specific next steps described in the meeting packet include finalizing the subordination language with the lender and executing the grant agreement with Ramsey County.

The EDA did not receive any public comments on this item at the meeting. The board indicated it will continue to work with staff and the developer as the project advances toward implementation.