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Integra Homes Request June 21, 2006 Page 2 Integra Homes is requesting a rezoning of the identified parcels to reflect an R-3, Medium Density designation. The R-3 zoning designation would explicitly permit Single family dwellings, twinhomes and townhomes. Schools, churches, day care centers and multiple family developments would require a conditional use permit (CUP) in an R-3 district. Integra has proposed development of a nineteen unit owner-occupied townhome development. Rezoning Criteria: Chapter 1125 of the Mounds View Zoning Code addresses rezoning requests. The procedure and conditions of approval are the same as for conditional use permits, which means the Planning Commission is to consider possible and potential adverse effects of the requested rezoning. The Planning Commission shall make a finding of fact and make a recommendation to the City Council based upon the review of potential adverse effects and finding of fact. Relationship to the Comprehensive Plan. According to the Comprehensive Plan, the site is designated as a mixed-use planned unit development. This is defined as land containing a building or buildings with significant amounts of residential uses in combination with commercial and/or office uses. Sites with this designation should be developed as planned unit developments (PUDs) to ensure that efficient, integrated and well-planned development occurs. One of the key components of the Comprehensive Plan, the Housing Element is geared toward maintaining and improving the quality and diversity of the existing housing stock and providing infill housing opportunities where both possible and practical. The proposed rezoning would help promote a greater diversity of housing choices in the community, based on the applicant’s concept townhome development proposal. Rental housing or multi-family units would not be considered an improvement to the City’s housing stock diversity. Geographical Area. The subject area proposed for redevelopment currently consists of a vacant commercial property (formerly operated as a small gas station), a single family residential home and the subdivided back half of another single-family residential property. (The applicants subdivided the property at 8060 Groveland Road in 2005.) Adjacent to the northwest on County Road 10 is a residential property which already bears the R-3 designation. To the southeast is a residential office property operating as “Johnson’s Trailer Hitches.” The properties to the rear of the subject parcels are zoned R-1, single family residential, and are developed as such. Properties on County Road 10 tend to be developed to a greater intensity, whether commercial or residential, than in other parts of the community. Directly south of the project area across County Road 10 are two townhome developments—Knollwood Green and Northridge Villas. Depreciation. The question of depreciation is a difficult one to answer with any quantifiable certainty. Most studies which examine property value impacts of development generally find there to be little correlation between a project and subsequent property values. While property values may not depreciate as a result of the development, one can argue that quality of life for the existing residents that would be adjacent to the project could be negatively impacted. Strictly from the perspective of tax base and market values, the rezoning would promote a substantial increase in market value at the site, increasing from the present approximate valuation of $460,000 to an estimated $4,750,000—a ten-fold increase in value.