Commercial or Economic Development

  • PowerPoint Presentation (13 slides)
  • Video (topic starts at about 00:55:30)
  • Up to 10 acres of development is possible, depending on which option is pursued
    • Four potential develop-able parcels
  • Tax yield:
    • $400,000 to $500,000 per developed acre
    • $4 million to $5 million in annual taxes could finance $50 million to $80 million in debt, depending on financing terms
  • Building heights similar to recent projects in the City; actual uses and density will be set by the City through land entitlement process
  • Development could include a hotel, office space, retail, entertainment, and/or residential
  • Development could complement the school campus; examples:
    • Conference facilities shared between a hotel and schools
    • Shared parking for school events
    • Central office space in a larger building
    • Shared ice rink, pool, plaza, open space, or performance space