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June 10, 2004 Feasibility Report Legacy at Woods Edge Development Prepared for the City of Lino Lakes 1.0 Introduction The Legacy at Woods Edge development is a proposed 48.8 -acre Planned Unit development (PUD) located in the southeast quadrant of the I -35W / Lake Drive (CSAH 23) interchange in Anoka County (see Figures 1 and 2). The site is bounded by Lake Drive to the west, I -35W to the north, Rice Creek Chain of Lakes Regional Park to the east, and the Lino Lakes City Hall complex to the south. 1.1 Project History In 1998, the City of Lino Lakes initiated preparation of a Master Plan for the City's Town Center district. A draft Master Plan was completed in 2000 and it identified the need to create a mixed -use development in the areas surrounding the I -35W / Lake Drive interchange. The identified mix of uses were to include retail, offices, entertainment, housing, recreation, civic, and open space facilities, and were to be in compliance with the Livable Communities Act adopted by the Metropolitan Council. Elements of the Master Plan were implemented when the City Hall complex, Fairview Clinic, and Lino Lakes State Bank buildings were constructed in 1998 and 1999. In 1999, the City passed a resolution authorizing City staff to enter into an agreement with the YMCA which would incorporate a new facility into the project area. As part of the resolution, the City proposed to participate financially in the cost of the new facility, as well as providing land and public infrastructure at no cost to the YMCA. In 2001, the City of Lino Lakes adopted a new Comprehensive Plan. The Plan specifically guides the subject project area for Mixed Use Development. In 2003, the Hartford Group entered into a purchase agreement with the Tagg family for a 29 -acre parcel of land lying within the project area and also entered into a purchase agreement with the City of Lino Lakes for City - owned property between the Tagg property and the City Hall complex. A proposed site plan was prepared by The Hartford Group that includes A -LI NOL0305.02 Page 1