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6. Fairgrounds/Land Swap DiscussionREPORT TO: Honorable Mayor Boharski and City Council FROM: Chris A. Kukulski, City Manager SUBJECT: Proposed Fair Ground Land Trade MEETING DATE: September 20, 1999 BACKGROUND: At the close of the September 13th work session the City Council asked for a discussion of this issue at this meeting. We were also asked to provide our initial thoughts concerning the proposal, as it is presently understood, and to further develop this information for the Council, as expeditiously as possible, as the process unfolds before us. We have discussed this topic at two staff meetings. Without question, there is no desire to repeat any of the negative learning experiences that accompanied the Domesite PUD process. That said, here are my initial thoughts on the proposal, as I understand it today. The Developer's Offer Christiansen Building Corporation (CBC) has offered, in exchange for the existing 55 acre county fair ground site at Meridian Road and Idaho Street, to relocate the fair ground facility to a new site. This new location encompasses approximately 60 acres at the southwest corner of Reserve Drive and US 93 North, presently referred to as the Domesite, and currently the location of the Pack and Company industrial operations. On this site, CBC proposes to construct facilities that essentially duplicate the present fair ground complex but would also include a sports arena, or dome, which would be a new facility. In order to accomplish this, CBC proposes to invest approximately $22 million. This total is comprised of approximately $10 million in private funds, $9 million of public urban renewal funds to be generated by the Westside Tax Increment District and approximately $3 million of future revenue to be generated by box seat sales. Post Office Box 1997 • Kalispell, Montana 59903-1997 Telephone (406) 758-7700 • FAX (406) 758-7758 On the site of the existing fair grounds, CBC proposes to invest approximately $35 million of private funds to develop approximately 500,000 square feet of new commercial space. General Impressions At this point, the proposal appears to offer both the City and County real and positive benefits. The County receives a new facility in exchange for one needing significant renovation. The City receives a new commercial complex that will generate significant business and tax revenue. However, there are a number of unknowns that prevent us, at this time, from providing the City Council and the developer with comprehensive advice and guidance. New Fair Ground Site We really need a thorough and complete proposal for the development. This must provide detailed information on the track record, experience and qualifications of the group proposing the development and the scope and details of the facilities to be built, in particular their relationship to the existing open pit operation. The basic requirements for infrastructure are essentially the same as would be anticipated for the currently approved Domesite PUD commercial development, but would likely involve changes to accommodate the new style of use. All the proposed improvements need to be clearly shown in relation to the significant excavation on this site so that we can see how the finished product will function. The site drawings we have seen to date do not make this relationship clear. The pit operation is subject to specific remediation requirements once it ceases to operate as a mine. These are, at a minimum, the restoration of all slopes to a minimum 2:1, replacement of topsoil, and revegetation into pasture. Redevelopment of the property can, with approval of 1MEQ, satisfy these requirements in creative and alternative ways. The City and County need to know that all requirements are met and that there is no public liability for the remediation of the site following the exchange of ownership. The addition of a sports arena, or dome, in the context of a publicly owned and operated fair ground facility, may be a concept that warrants additional discussion. How will it be managed and who will manage it? The proposal includes approximately $3 million in revenue from the sale of box seats in this arena to support the financing of the whole facility. As was pointed out during the work session, there is presently no commitment by a sporting organization that would generate this potential revenue source. In this regard, perhaps the concept of a sports arena, or dome, should remain as a future item that will be developed when feasible and when these questions have answers. The prospect of a satellite fire station in the vicinity of Reserve Drive and US 93 is of definite interest. Chief Waggener and his staff are reviewing the location and weighing it against other potential locations within the City's northern corridor. This review includes some preliminary information on the cost of construction, renovations, personnel and equipment. We cannot determine whether the development proposal anticipates any of these costs in the overall financing of the package. The concept of relocating the fair ground complex to this location would seem to be one that warrants a thorough public discussion. Is this, in fact, the optimum location for the fair grounds or is there a higher and better use of this property? It is presently planned for a $35 million commercial development that would generate an estimated $144,000 in City tax revenue each year with additional tax revenues flowing to the County and the school district because it is not within a TIF urban renewal district. Redevelopment of the Existing Fair Ground Site Again, we need a thorough and complete proposal for the proposed redevelopment of this 55 acre site. We understand that the initial plans would involve an investment of $35 million to build 500,000 square feet of commercial space, but that is all we know at this point. Development of this site in this way may be precisely what is needed to revitalize this area. We would expect this project to create the same synergy between this site and a revitalized Westgate Mall that typically results when complementary retailers congregate in an area. We understand this to have been one of the reasons that Target chose to locate in Evergreen near Wal Mart, Shopko and K Mart. With that in mind, would that be the City's desired result? The $35 million of commercial development could be expected to generate about $680,000 in annual tax increment revenue. However, the site would need to be rolled into the current Westside TIF District through a boundary change in order to make this happen. Of this revenue, approximately 80%, roughly $545,000, would support debt service because of the need to maintain an income to debt ratio of about 125%. Therefore, the City could expect to bond for about $5.4 million over a twenty year period. In order to generate the proposed $9 million public investment necessary to relocate the fair grounds complex it would appear that the investment commitment must be raised to generate more increment funding, or the cost of the relocation proposal must be reduced. Infrastructure needs for this site are a large unknown. As Councilman Van Natta correctly pointed out, the current Meridian Road project will provide three lanes. Can this support the traffic from 500,000 square feet of commercial space? If not, then the addition of lanes to this project, which is on -track for 2001 construction, is a major undertaking that will entail major costs for the City. Water, sewer and storm drainage needs for this proposal are equally unknown, and I do not believe it is safe to assume that existing facilities are adequate for the purpose. Summary These thoughts are by no means all the issues that relate to this proposal. They are only those that spring to mind based on what we know at this point. Clearly there is much work to be done in order to move forward. I have asked staff to begin working to answer as many of the questions as we can as soon as possible, and we are looking forward to working with CBC on this project because of its significance to the community. I feel strongly that this project has the potential for being one of the best things we can do for our community over the next several years. In order to ensure its success all of the participants in the process need to have a clear understanding of our mutual concerns and agreement on our common goals. With these elements in place we can work together toward successful completion of this project. RECOMMENDATION: Provide your questions, concerns and direction to staff on proceeding with this effort once a detailed proposal has be received. FISCAL EFFECTS: Unknown at this time. ALTERNATIVES: As suggested by the City Council Respectfully submitted, Chris A. Kukulski City Manager Report compiled September 16,1999