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• Ownership: The application for approval of this rezoning has been filed by MSP Real Estate, who holds a purchase agreement for the property, and has been executed by the owner of the property, M&E Realty Company. Comprehensive Plan Consistency: The comprehensive plan designation for this property is Mixed Use Planned Unit Development. The proposal is consistent with this designation. Geographic Area Involved: The subject property is located at the southeast corner of Mounds View Drive and County Road I. Nearby uses include a SuperAmerica and the Silver View Plaza to the west, a high density residential development and Silver View Park to the south, and a Burger King, Bicycle shop and a senior high rise to the north. Impact to Adjoining Properties: It is believed that the impact of this proposed development would be minimal. The use would act as a transition between the present commercial and residential uses. SECTION 2: The Mounds View City Council hereby amends Appendix A of the Mounds View Municipal Code entitled"Specific Rezonings" and amends the Official Zoning Map for the City of Mounds View to change the zoning designation on the property described above from B-2 to R-4. SECTION 3. The Mounds View City Council does hereby stipulate that in the event the • development being proposed by MSP Real Estate does not come to fruition within one year of this ordinance's adoption (or sooner, upon written notification of the applicant), the Council will act to reinstate the property's original B-2 zoning classification. SECTION 4: This Ordinance is effective thirty days after its publication. First Read by the City Council of the City of Mounds View this_ day of , 1999. Read and passed by the City Council of the City of Mounds View this day of , 1999. Dan Coughlin, Mayor ATTEST: Charles Whiting, City Clerk-Administrator APPROVED AS TO FORM: City Attorney • N:\DATA\GROUPS\COMDEV\DEVCASES\559-99\MSP631.ORD