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Item No: 6 Meeting Date: February 2, 2005 Type of Business: Business City of Mounds View Staff Report To: Mounds View Planning Commission From: James Ericson, Community Development Director Item Title/Subject: Review Possible Acquisition of the Donut Connection Site, 2394 County Road 10 Introduction: A Realtor representing the property owners of the Donut Connection located at 2394 County Road 10 recently approached staff regarding the sale of the property to the City. The Planning Commission is required to review all potential acquisitions and disposals of real property and assess consistency with the Comprehensive Plan. The City Council considered this matter at their meeting on January 24, 2005 and recommended that the Planning Commission review the issue and have staff continue with negotiations toward a possible purchase. Discussion: Staff informed the Realtor of the City Council’s interest and that the Planning Commission would need to review the possible acquisition for consistency with the City’s Comprehensive Plan, as dictated by Minnesota Statutes. 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. On its own, the Donut Connection property has limited value to the City. If combined with the gas station parcel however, a meaningful redevelopment could be achieved. Please refer to the attached maps and documentation regarding the site. Acquisition of this property would be consistent with the City Council’s and community’s desire for coordinated corridor redevelopment. Proceeds for the acquisition would be derived from pooled tax increment finance dollars. This parcel and the adjoining gas station parcel are represented on the City’s official list of properties for potential acquisition. The Comprehensive Plan’s goals and policies are intended to maintain a cohesive land use pattern that ensures compatibility and a 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.