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Home My WebLink About[06b] Business Round TableC-ITY OF ST. JOSEPH VVV.cityof stjoseph.com Administrator Date: October 30, 2013 Judy Weyrens Memo To: Members of the EDA Mayor City Administrator Weyrens Rick Schultz Memo From: Cynthia Smith - Strack - MDG, Inc. Councilors RE: Event Takeaways: Real Estate Round Table Steve Frank Bob Loso Renee Symanietz Background: Dale Wick Fifteen people attended a real estate roundtable discussion on Wednesday October 30"'. Following are my takeaways from the meeting. Members who attended should feel free to add EDA comments and /or make adjustments as these were my perceptions only. Doug Danielson Steve Frank Lot pricing is a key issue for new home builders and buyers. Pricing in areas with Larry Hosch foreclosed lots are being built on at this point (i.e. Avon, Albany, Sartell). St. Joseph has Gary Osberg few foreclosed lots and therefore higher lot prices /lower demand for new homes. The Dale Wick following ideas were raised: ✓ Realtors and contractors would like listings of lots that went into foreclosure (Graceview) in St. Joseph. ✓ City Administrator noted potential excess interest/contingency /penalty fees in a couple of bond funds relating to Lumber One and Arcon developments. The excess proceeds could potentially be used to bring down lot costs for a few projects. • Financial professionals indicate that a rural development first -time buyers program is expiring for St. Joseph. This means any closing and /or down payment assistance that was available through the USDA is now disappearing. This will likely impact first home buyer sales in St. Joseph. The following ideas were raised as a means of addressing the issue: ✓ City/EDA to budget $60,000 for a first time home buyer /down payment assistance program. ✓ City to work with other area organizations such as Central Minnesota Housing Partnership (CMHP), Greater Minnesota Housing Fund (GMHF), Farmers Home Administration (FmHA) and the like to address potential down payment and /or closing cost assistance alternatives. • When choosing where to live St. Cloud School District is a major factor for new home buyers. Many leave District 742 for Sartell, Rocori, and Holdingford. Sartell now has a cap on enrollment from other districts. The perceived negative is not related as much to the quality of teachers but rather the diversity of students. ✓ Discussion surrounding integration of students and marketing of ISD 742 took place. I ✓ Discussion regarding advocating for a high school in St. Joseph took place. Alternatives include attendance at ISD 742 Board meetings and /or facility meetings. Restarting group that was active in getting Kennedy Community School constructed in St. Joseph. ✓ Discussion about investigating a charter school (secondary) occurred. • Activities and things for residents to do is a potential deterrent for some home buyers (e.g. no community center, youth rec center, theater, big box store, etc. Families are often making big box shopping excursions (to Menards, Home Depot, Fleet Farm, Walmart, Target, etc) a form of weekend 'entertainment'. ✓ Most agreed commercial development at 1- 94 /CSAH 2 will help. ✓ Most thought a community/recreation center would be attractive to potential residents. However, most acknowledged funding and operating /maintaining such a venue would be cost - prohibitive for the City. Potential mitigating circumstances would be partnering with CSB, partnering with organization like the YMCA, partnering with a private business (e.g. hotel), and /or securing bond fund allocation from State legislature. ✓ All thought this issue comes down to making financial sense. • Perception of St. Joseph as 'development - friendly' or not. ✓ Some reported no problems, others reported difficulty most related to fees and especially pass- through professional service fees. ✓ All agreed review of processing would be helpful. ✓ Most agreed City fees are mid -range when compared apples -to- apples in other communities. The largest difference in pricing is related to lot price at this time. • Rental housing is thought to be in need for certain segments (e.g. market rate and senior). ✓ Wilshire Apartments are viewed as a potential impediment to apartment construction nearby at the end of Hill Street. ✓ Wilshire Apartments are in definite need of major repair /maintenance and /or demolition and reconstruction. They are currently income assisted which may or may not impact redevelopment. ✓ Most thought new apartments were in demand. Many thought additional lofts would be especially popular. • When asked who is moving out of town, several mentioned seniors as the group most likely to leave town. Options for independent senior living whether it be retrofitting existing single family owner occupied homes and /or availability of single level living units were in short supply. Options for assisted living were also seen as lacking. • The need for successful exchanges of information, communication, and collaboration were common themes throughout the meeting, including: 20 ✓ Need to provide information to real estate professionals regarding community amenities such as trails (planned and existing), planned public facilities, lots that went into foreclosure, potential development opportunities, regional plans, etc. ✓ Need to work with next President at CSB to market/publicize intergenerational activities including volunteering and clarify what parts of campus are available to the public and when they were available. ✓ Internship opportunities should be explored. ✓ The real estate round table discussion was helpful, most hope it will happen again. Please note I have distributed a list of tax forfeited properties to realtors, loan officers, and builder that attended the round table. Copies of the list and map are attached for your reference. In addition, Mayor Schultz is suggesting some specific outcomes as noted in the attached email. For discussion they are: • A streamlined process which allows builders an easier path to construct new homes. • Reduced fees structure(s), where it makes most sense and which could be a long range change. • A plan to increase downtown shovel ready and residential parcel inventory. Action: This item is offered for your information and input. M M wl_ FAA STEARNS COUNTY TAX FORFEITED PROPERTY SEARCH RESULTS �'�i�' i"yt'pQ •� Ifte Acrea :. r �r > s,. 4 '` �r #,t n,- 84.53533.0027 Inventory $9,500.00 NIA 530 GRACEVIEW LOOP, ST ST JOSEPH CITY ? ISD 0742 ST CLOUD VacanUCity Lot ( Lot 010 Block 003 of GRACEVIEW ESTATES JOSEPH 84.53533.0028 Inventory $9,500.00 N/A 528 GRACEVIEW LOOP, ST ! ST JOSEPH CITY i ISD 0742 ST CLOUD ' Vacant/City Lot Lot 011 Block 003 of GRACEVIEW ESTATES ;JOSEPH 84.53533.0029 Inventory $9,500.00 N /A! 526 GRACEVIEW LOOP, ST ST JOSEPH CITY ISD 0742 ST CLOUD VacanttCity Lot Lot 012 Block 003 of GRACEVIEW ESTATES JOSEPH 84.53533.0030 Inventory $9,500.00 N /A:' 510 GRACEVIEW LOOP, ST ST JOSEPH CITY I ISD 0742 ST CLOUD ' Vacant/City Lot Lot 013 Block 003 of GRACEVIEW ESTATES JOSEPH 84.53533.0034 Inventory $9,500.00 N /A' 505 GRACEVIEW DR, ST ST JOSEPH CITY ISD 0742 ST CLOUD Vacant/City Lot I Lot 017 Block 003 of GRACEVIEW ESTATES JOSEPH 84.53533.0040 Inventory $9,500.00 N/A i 517 GRACEVIEW DR, ST ST JOSEPH CITY ISD 0742 ST CLOUD ! VacanUCity Lot r Lot 023 Block 003 of GRACEVIEW ESTATES ;JOSEPH 84.53533.0045 Inventory $9,500.00 N /A' 611 GRACEVIEW DR, ST ST JOSEPH CITY ISD 0742 ST CLOUD = Vacant/City Lot ; Lot 028 Block 003 of GRACEVIEW ESTATES JOSEPH 84.53533.0101 - 'Inventory $38,000.00 N /A' 515 FAITH LN, ST JOSEPH ST JOSEPH CITY ISD 0742 ST CLOUD Vacant/City Lot Lot 084 Block 003 of GRACEVIEW ESTATES 84.53533.0104 84.53550.0088 Inventory $105,800.00 5.72; ST JOSEPH CITY `ISD 0742 ST CLOUD `Vacant/City Lot Lot OUTLOT C of LIBERTY POINTE 84.53550.0093 Inventory $5,000.00 0.06 345 JEFFERSON LN, ST ST JOSEPH CITY ISD 0742 ST CLOUD Vacant/City Lot Lot 005 Block 001 of LIBERTY POINTE 2ND JOSEPH ADDITION 84.53550.0094 Inventory $5,000.00 0.06'341 JEFFERSON LN, ST ; ST JOSEPH CITY ISD 0742 ST CLOUD Vacant/City Lot i Lot 006 Block 001 of LIBERTY POINTE 2ND JOSEPH iADDITION 84.53550.0099 Inventory $5,000.00 0.09:336 JEFFERSON LN, ST ST JOSEPH CITY ! ISD 0742 ST CLOUD Vacant/City Lot Lot 004 Block 002 of LIBERTY POINTE 2ND JOSEPH ADDITION 84.53550.0100 Inventory $5,000.00 0.08 330 JEFFERSON LN, ST ST JOSEPH CITY ' ISD 0742 ST CLOUD Vacant/City Lot i Lot 005 Block 002 of LIBERTY POINTE 2ND JOSEPH i ADDITION 84.53550.0101 Inventory $5,000.00, 0.06! 326 JEFFERSON LN, ST ST JOSEPH CITY ISD 0742 ST CLOUD Vacant/City Lot I Lot 006 Block 002 of LIBERTY POINTE 2ND JOSEPH `ADDITION DISCLAIMER: This data is provided on an "AS -IS" basis, withouth warranty of any type, expressed or implied, including but not limited to any warranty as to their performance, merchantability, or fitness for any particular purpose. Page 1 of 1 UIRCH b I t rn h F Z — I p rn N w W Z N W < Z D rP W Q Q Resm Courdy Tax ForFeded Propeq ASH ST E D < a r ° N m z rn z F q Sc Josehh G R AC 0 CALLAWAYSTF Search Results Legend Help Full Brtent IESOTA ST E C t(4Wq► W w 0 L 711 h46 N ABLE ST E y ABLE ST F Map 0 Aerial > W N a N Q �� y C w YW > I j Q DALE S1 E� I i (i rn r r fi \A,' LN m DALE ST E DALE S 1F a LAGLE RIDGE DR 9� rT N rn w w SAO AI h' J � r N A n a3 http: / /maps.co. steams. mn. us/ uniquesig0767a81117f95d93bd9262ca4c328fcal cbea10efc455a2064... 11/6/2013 rn h F o BAKER ST E w p rn D m 0 ao N W < N BAKER ST E Q = BAKFR S I L rr r ° N oEW DR q Sc Josehh G R AC 0 CALLAWAYSTF C t(4Wq► W w 0 L 0 IT �ti H P ST -4 = > > CARY CT E DALE S1 E� I i (i rn r r fi \A,' LN m DALE ST E DALE S 1F a LAGLE RIDGE DR 9� rT N rn w w SAO AI h' J � r N A n a3 http: / /maps.co. steams. mn. us/ uniquesig0767a81117f95d93bd9262ca4c328fcal cbea10efc455a2064... 11/6/2013 Page 1 of 1 From "Rick" <rschultz25 @msn.com> Subject: real estate round table outcomes Date: November 4, 2013 08:47:41 To: "'Cynthia Smith - Strack MDG, Inc."'< cstrack @municipaldevelopmentgroup.com> Cc: "'Judy Weyrens "' <jweyrens @cityofstjoseph.com >, "'Wick, Dale <Dale. Wick @wolterskluwer.com> Hi Cynthia. I've had some really good feedback concerning last week's Real Estate Round Table. Here is what I'd like to see as outcomes from this session: A streamlined process which allows builders an easier path to construct new homes Reduced fees structure(s), where it makes most sense and which could be a long range change. A plan to increase downtown shovel ready and residential parcel inventory. What direction and /or outcomes would you like to see? Rick Lq http: / /webmail .bevcomm.net/mail /message.php ?index= 67928 &mailbox =mbox 11/20/2013