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MINUTES <br />PLANNING COMMISSION <br />NOVEMBER 9, 2006 <br />Square Footage <br />Open Space <br />Average Sale Price <br />Gross Revenue <br />19 Lots <br />10,000 <br />None <br />$650,000 /Home <br />$12,350,000 <br />41 Lots <br />5,400 <br />315,000 Sq. Ft. <br />$300,000/Home <br />$12,300,000 <br />Solby stated that he wanted to illustrate that the 41 lot development is not <br />being proposed to make Lauren & Company more money. It is felt that <br />the project as proposed is more affordable and meets a growing housing <br />need. <br />The real estate agent representing Lauren & Company indicated that baby <br />boomers represent about one -third of the population. This population <br />group is looking for housing that is association maintained, does not share <br />common walls, and is smaller in size than the homes in which they raised <br />their families. These baby boomers would also like to stay within five <br />miles of where they currently live. The agent indicated that given the land <br />cost, a 19 lot single - family housing development would have lot costs of <br />$225,000 each. The agent felt that cities did not need more $650,000 <br />homes, and again pointed out that this concept is the type of housing that <br />baby boomers are looking for. <br />Knudsen noted that the property is currently zoned R -1, and the concept <br />presented pushes beyond what is allowed in an R -1 District. Knudsen also <br />pointed out that the amount of property that Lauren & Company claims to <br />have and what the City Planner estimates does not add up. <br />The City Planner noted that the concept plan submitted estimates between <br />13 and 14 acres of property, while the County's records are at about 7'/ <br />acres of property. <br />Knudsen also noted that large departure in what the City's R -1 District <br />minimums are for lot size, width, and setbacks versus what is proposed. <br />Solby stated that the front yard setback would be 20 feet rather than the 10 <br />feet initially estimated. <br />Solby quoted the City Code language relative to Planned Unit <br />Development, noting that PUD's will be considered based on factors such <br />as innovation, higher standards, preservation and enhancement of natural <br />site characteristics, etc. <br />8 <br />