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3 <br /> <br />Potential Approaches <br />The City could continue to hold the property for potential future assembly or corridor-based <br />redevelopment. Alternatively, the City could consider disposition via an RFP if assembly or <br />redevelopment opportunities do not materialize in the near-to-medium term. <br /> <br />Questions for the EDA <br />Should the City continue to hold the property for potential assembly, or consider disposition? <br /> <br />0 First Bank Drive <br />Site Overview <br />• Approximately 0.62 acres (27,250 square feet) <br />• Currently undeveloped and not actively programmed <br />• Zoned C-2 (Corridor Mixed); guided for mixed-use development <br /> <br />Key Considerations <br />• Clean, developable site with strong surrounding commercial context <br />• High visibility and access within an established commercial area <br />• Flexible site that could support private development or public use <br />• Opportunity to activate the site through interim programming or placemaking <br />• Utilities are nearby, but would need to be built-out on-site to support public programming <br /> <br />Potential Approach <br />The city could immediately explore interim activation of the site, including evaluating the feasibility <br />and cost of extending utilities, such as electrical and plumbing connections, to support public use. <br /> <br />Alternatively, the City could continue to hold the property until broader planning efforts for the area <br />are completed, allowing the site’s long-term role to be defined before taking action. <br /> <br />The City could also consider marketing the property for private development or sale based on current <br />market conditions. <br /> <br />Questions for the EDA <br />Should the City explore build-out costs for public use of the site, or hold it for future development? <br /> <br />Recommendation <br />Staff recommends that the EDA provide clear direction on the near-term approach for each City-owned <br />property, with a particular focus on 2828 Condit as the City’s most significant redevelopment <br />opportunity. <br /> <br />Attachments <br />Attachment A – City-Owned Properties Packet <br />Attachment B – Updated Little Canada EDA Goals and Objectives <br />Attachment C – Bolton and Menk Proposal for Condit Property RFP