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City Council Meeting <br />February 6, 2024 Page 2 <br /> <br />LA515\137\930284.v1 <br />Property Owner: Bridgewater Bancshares, Inc., 4450 Excelsior Blvd, Ste 100, Minneapolis, MN <br />55416 <br />Location: Two parcels bound by Stillwater Way N., CSAH 14, CSAH 15 <br />PID#s: 1202921440023 and 1202921440022 <br />Request: Preliminary Plat, Rezone, Comprehensive Plan Amendment, Conditional Use <br />Permit <br />Site Area: 23.19 acres <br />Land Use Map: Commercial (C), Village Medium Density Residential (V-MDR) <br />Current Zoning: RT – Rural Transition <br />Surrounding: OS Open Space (north); C- Commercial (east); RT Rural Transition(south); PF Public Facilities (west) <br />History: The parcel is undeveloped. <br />Wetland: There are no wetlands on site. <br />Deadline: Application Complete – 9/22/2023 <br /> 60 Day Deadline – 11/21/23 Extension Letter – Developer Extension until 2/20/24 at 1/2/24 CC Mtg. 120 Day Deadline – n/a <br /> Applicable Code: Article 7- General Regulations <br />Article 9- Standards for Accessory Uses Article 13 – Village Districts Article 15- Commercial Districts Title 103 – Subdivision Regulations Lake Elmo Design Guidelines <br /> <br />PROPOSAL DETAILS/ANALYSIS: <br />Four requests are being processed concurrently by the City: <br />• Preliminary Plat – a major subdivision of the property is proposed. <br />• Conditional Use Permit (CUP) – (Approved 1/2/2024) a CUP for a drive through facility <br />on commercial Lot 3, the proposed bank property. <br />• Comprehensive Plan Amendment – (Approved 1/2/2024) an amendment is required to adjust the future land uses in the Comprehensive Plan so they align with requisite property locations and boundaries. <br />• Rezoning – (Approved 1/2/2024) a rezoning from Rural Transition to Commercial and Village Medium Density Residential is required to ensure that the proposed land use is consistent with guidance in the City’s Comprehensive Plan. <br />The Developer is proposing a Mixed Use development to occur in two or more phases. There are <br />a total of 7 acres of commercial land proposed, which includes 4 separate lots to be rezoned to