Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Economic Development topic
No spam. Unsubscribe anytime.
City staff say Landing is not sold; master plan RFP drew 14 responses and staff seeks public input
Summary
City staff told council the Landing site has not been sold and that leftover brownfield grant funds paid for an RFP that produced 14 responses; staff outlined a master-plan process and said an opportunity-zone designation could improve development financing but would not obligate developers to reinvest capital-gains savings into infrastructure.
City staff updated the council on June 1 about the status of the Landing site, asserting that the property is not under contract and that grant funding was used to pay for a master-plan RFP that drew significantly more responses than expected.
"The landing has not been sold to anybody. It is not under contract with anyone at the moment," a staff speaker told the council, adding that staff received 14 RFP responses and would select a firm to prepare a master plan that includes public input meetings before any development proceeds.
Staff said the city had used leftover brownfield-cleanup grant money to fund the RFP and described additional technical reports needed to support developers, including geotechnical and foundation studies. The landing’s master-plan process was presented as a phased effort that would include at least three public outreach meetings before shovel-ready work begins.
Officials also discussed applying to have the Landing designated an economic-opportunity zone. Staff described potential developer incentives tied to that designation — tax deferral on capital gains, a partial basis reduction for properties held more than five years, bonus depreciation and permitting protections — but emphasized those are developer incentives rather than city-imposed obligations. "They're not required to reinvest those gains back into infrastructure," a staff speaker said while noting the incentives could improve private financing and lower developer costs.
Council and staff discussed related funding tools under consideration — an EIFD, new-market tax credits and remaining brownfield grant amounts — and staff said they believe the project would be competitive for state applications. Staff also noted that any development agreement and entitlements would still require council approval.
No final entitlements or contracts were approved at the meeting. Staff said they would return with recommendations for selecting a master-plan respondent and with public-engagement dates once the review process is complete.
