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Developer seeks Badger Road conveyance to extend Main Street Lofts HUD financing
Summary
A developer told council he plans a Main Street Lofts expansion and needs Badger Road to be made contiguous with his property to extend an existing HUD loan without reapplying; staff outlined potential abandonment/conveyance options and emphasized access and maintenance covenants would be required.
City staff and the developer discussed a possible expansion of the Main Street Lofts and a request to privatize or convey a portion of Badger Road to make the property contiguous for extension of an existing HUD loan.
City staff said conveyance would keep the roadway open but place maintenance responsibility with the property owner; abandonment historically results in splitting the right-of-way between adjoining owners, and the city would put permanent notations on plats and identify access protections. Staff said any conveyance would be subject to contract and plat conditions to preserve permanent access.
Developer Rick Chin (who identified himself in the meeting) said phase 1 of the lofts was successful, phase 2 is finishing, and phase 3 across Badger Road is being designed; he said early sketches show density possibly higher than initial estimates and that staying competitive with neighboring jurisdictions that only have county taxes may require a pilot incentive similar to earlier phases. He said the property purchased from ORU (the university) had been taken off the tax rolls and the project would return it to the tax base.
Council asked technical questions about permanent access instruments, plat notations and assurances that private maintenance would not reduce public access. Staff indicated they would prepare a formal proposal and return to council for action if the council endorses moving forward with investigating conveyance and potential pilot incentives.
