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Meetint Date: 1/8/90 <br />A~t*~da Itq:_? <br />CIT? OF tALCOR 1lIC~'f5 <br />• <br />PI.ANNIpG CO?~SISSI0~7 <br /> <br />ITE!! DESCAIp?IOi~t: <br />STAFF UPDATE ON THE PROPOSED SHOPPING CENTER BY PROFESSIONAL <br />VENTURES AT THE SOUTHEAST CORNER OF LARPENTEUR AND SNELLING AVENUES <br />IN A B-2 ZONE <br />f~EKI?TED fT : S t a f f <br />tZVILiTED EY: Susan Hoyt Taff, City Planner . <br />~~aTI011/STl~lS1-1t4 (attatD additioaa2 sbeeta as ascassar~): <br />I. PRELIMINARY DEVELOPMENT AGREEMENT <br />At its December 13, 1989 meeting, the City Council entered into a <br />Preliminary Development Agreement with the Professional Ventures <br />Developers: This agreement demonstrates seriousness on the part of <br />the Developers in submitting its plans and on the part of the City <br />in reviewing them. However, i•t does not legally bind either party <br />to the final execution of the proposal. <br />II. PROPOSAL <br />The PVI Proposal includes a one story, 66,000 square foot retail <br />complex on the 4.62 acre site. It requires the acquisition and <br />demolition of all existing structures on the property. As it is <br />currently configured, the shopping center requires a number of <br />Conditional `Use Permits and Variances from the Zoning Code to <br />proceed. The developers are requesting Tax Increment Financing <br />for the project. - <br />Attachment F-1 - Location Map <br />Attachment F-2 - PVI Proposal dated 12/13/89 <br />l~ i ZQ` t3Q6LSTID <br />For your information. <br />