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Mondor/ to purchase the property for $100,000. By the time he <br />McNamara paid Mondors $55,000, paid off his own mortgage of $35,000 <br />Property ana paid $10,000 real estate commission, he would not realize <br />(Cont) a profit. <br />Mr. Fahey stated McNamara was taking a risk in buying the <br />property. The Council didn't say 5 to 10 feet short. That <br />is a bad corner and the driveway should not be located near <br />the corner. The two properties should be combined as a <br />nice parcel and developed as a good piece of property. <br />Mr. Blesener stated he doesn't feel a gas station/convenience <br />store a good use for that corner. <br />Mrs. Scalze suggested a tax increment financing person should <br />look at the property with Mr. McNamara. <br />Mr. Fahey stated he would prefer supporting a better buidling <br />than a convenience store/gas station. Have talked to McNamara <br />before that Council willing to work with him. <br />Mr. McNamara stated he would be very willing to talk to <br />people. Feels PUD too restrictive; he is not a planner <br />or developer. <br />Mr. Grittner stated would have to look at rezoning a larger <br />parcel PUD. That way would gain more control of what goes <br />in space. <br />Mr. Fahey stated PUD does not restrict what can be built <br />within B-3 area. It only insures we have handle on what <br />goes in. Would like to see higher valuation building in <br />that area than a gas station. <br />Mr. McNamara asked if this was being tabled until further <br />discussion with Planner. <br />Mr. Fahey stated his idea would be to zone to PUD; would <br />be willing to work with McNamara through tax increment <br />financing but doesn't want station on piece of property. <br />Realtor Jim <br />Mugs Nardini <br />reiterated past proceeding with <br />Mondor's thought they would realize $86,000. <br />Mr. Blesener stated the deal fell through because the <br />original developer didn't have the money. <br />Realtor stated that office space not necessarily the best <br />use of land. The two properties together are the only way <br />the land is valuable. If Conoco were to change the design, <br />say a mini strip mall and change the driveway, would the <br />Council still be adverse to a gas station? <br />Mr. Fahey replied they'd be hard pressed to say no. <br />Page -10- <br />