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Planning & Zoning Board <br />November 14, 2007 <br />Staff is uncertain of the potential impacts that the proposed amendment could have with our rural <br />service policies. However, the requirement that the newly created lots cannot be transferred <br />separately should minimize negative impacts. <br />From a policy standpoint however, staff is concerned with the practice of amending the City's <br />zoning ordinance to satisfy a private institutions and/or and individual's financial requirements. <br />The amendment, in this case, is driven by a financial institutions requirement that limits the <br />applicability of the "reverse" mortgage option to parcels equal to or less than 3 acres. In addition <br />staff is not in a position to determine what other financial "requirements" there may be that could <br />necessitate further ordinance changes. <br />As such staff is not recommending the proposed ordinance amendment. <br />• <br />• <br />• <br />