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Item No: 8 Meeting Date: February 7, 2005 Type of Business: Worksession Administrator Review : ____ City of Mounds View Staff Report To: Mounds View City Council From: James Ericson, Community Development Director Item Title/Subject: Review Possible Acquisition of the Donut Connection Site, 2394 County Road 10 Introduction: It was reported at the January 24, 2005 Council meeting that the Realtor representing the property owners of the Donut Connection located at 2394 County Road 10 approached staff regarding the sale of the property to the City. The Council was interested in exploring this acquisition, and consistent with state law, forwarded the matter on the Planning Commission to determine if the proposed acquisition would be consistent with the Comprehensive Plan. Discussion: Staff informed the Realtor of the City Council’s interest and that the Planning Commission would need to review the possible acquisition. The future land use map designation for the Donut Connection parcel and adjoining gas station land is HC, Highway Convenience. The zoning for both properties is B-3, Highway Business. The property area of the Donut Connection site is only 20,000 square feet, the lot carved from the former Fina Gas station parcel. As a stand-alone development, the Donut Connection property has limited value to the City. If however combined with the gas station parcel, a meaningful redevelopment could be achieved. The Planning Commission reviewed this at their meeting on February 2, 2005 and found the proposed acquisition consistent with the Comp Plan and a furthering of the articulated goals for the continued redevelopment of County Road 10 corridor. Proceeds for the acquisition would be derived from pooled tax increment finance dollars. This parcel and the adjoining gas station parcel is represented on the City’s official list of properties for potential acquisition. The Planning Commission’s resolution, adopted unanimously, is attached for the Council’s reference. The Comprehensive Plan goals and policies are intended to maintain a cohesive land use pattern that ensures compatibility and functional relationship between activities and uses. This statement is consistent with the community’s desire for coordinated and meaningful development and redevelopment along the County Road 10 corridor. Acquisition of the Donut Connection site would allow for more control over the potential reuse of the subject property while encouraging a more coordinated redevelopment that might not otherwise occur without City involvement. Another equally important goal articulated by the Comprehensive Plan is the desire to preserve and protect property values. Acquisition of this property voluntarily offered to the City will provide an opportunity to enhance the tax base while opening the door to a comprehensive redevelopment of this visible corner within the County Road 10 corridor.