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legislative session. The property transfer was made at no cost to the City. The purpose of the <br />transfer was to streamline the conveyance process and allow the City opportunity to recoup <br />outstanding special assessment debt with land sale proceeds. In 2015, the city sold <br />approximately 11 acres to DR Horton for $1,000,000. Horton constructed a 112 townhomes on <br />the site which are nearing completion. <br />The City has approximately 9 acres of land remaining. <br />Town Square Block <br />Two (2) acres remain for development in this area. The town square block was originally guided <br />for civic uses (YMCA) and mixed uses allowing for 1 st floor commercial with multi -family <br />residential uses above. The concept master plan provides for either a multi -family building or <br />commercial pads on the west side of the block. <br />Urban Block <br />Approximately 7 acres are available for development. The Urban Block was originally guided <br />for mixed use (1st floor commercial with housing above) along the community green. The <br />balance of the property was guided for commercial. <br />The Mixed Use area allows up to 24 units an acre. A total of 450 residential units were <br />originally proposed for the development, of which, approximately 172 have been constructed. <br />Over the past three months, staff has been working with Elhers and Associates to gauge interest <br />insight. A series of developer roundtables was held with four metropolitan area developers. <br />Each of the groups interviewed offered their perspectives on density, uses, price points and <br />market conditions. A summary of the meeting is attached. <br />EDAC CONSIDERATION <br />Staff is seeking EDAC's perspective on the developer comments and potential development <br />options for the property. <br />ATTACHMENTS <br />1. Ehlers Memo dated July 8, 2020. <br />2. Woods Edge Site Plan <br />2 <br />