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12 <br /> City Council Regular Meeting Minutes <br /> August 22, 2000 <br /> • Page 11 <br /> 1 corporate misuse. <br /> 2 Mr. Tankenoff stated they agreed to the PUD process rather than a zoning district and <br /> 3 have responded to every question raised by the City or residents in an honest and direct <br /> 4 manner. He noted the PUD was applied for and there has been consistent work with the <br /> 5 PUD and TIF agreements at a large time and financial commitment. Mr. Tankenoff <br /> 6 reviewed the dates for various submittal and considerations, noting the unanimous <br /> 7 recommendation of the Planning Commission for approval after two considerations. Mr. <br /> 8 Tankenoff stated they have made changes,in an effort to receive unanimous Council <br /> 9 support and suggested the City is basically getting the preferred plan. He emphasized <br /> 10 that Hillcrest Development feels so strongly about this project that they were willing to <br /> 11 put their money in first and proceed with no tenants. <br /> 12 Mr. Tankenoff noted the percentages for the interim plan, marketing deadline, fascia <br /> 13 upgrades,preleasing commitment, and interim use of the New Market site as a soccer <br /> 14 field. He commented on the letter from Liberty, noting this is a premier company with a <br /> 15 desire to grow and invest in their office. Mr. Tankenoff suggested that the loss of a client <br /> 16 like Liberty will result in the loss of the other two tenants and send out a negative <br /> 17 marketing message. <br /> 08 . Mr. Tankenoff suggested the highest and best use is clearly what they are proposing. He <br /> 9 noted other prospects have attempted;to work with this site but not succeeded. He stated <br /> 20 that retail is out of the question due to not having freeway visibility or adequate access. <br /> 21 This leaves business or residential use noting a residential use would need to be <br /> 22 balanced with the schools. He stated this proposal allows them to use existing <br /> 23 infrastructure which is adequate and does not promote sprawl, noting they have <br /> 24 completed projects in the 1950s that remain vital and have stood the test of time. He <br /> 25 stated this project is consistent with the newly adopted Comprehensive Plan and they <br /> 26 have tried to be sensitive to.the City grant application with the Metropolitan Council. <br /> 27 Mr. Tankenoff stated this site needs a massive updating and they will work with the <br /> 28 watershed district to address issues related to Silver Lake. He noted they will pay up- <br /> 29 front for the drainage improvements and there is no bonding or administrative costs to <br /> 30 the;City. He suggested their project in the Stinson neighborhood is an example that they <br /> 31 can accommodate projects in residential neighborhoods. Mr. Tankenoff stated they have <br /> 32 seen the vision and path to progress that is possible and stand before the Council as being <br /> 33 ready to make the financial commitment to see the project through. He stated they want <br /> 34 to move forward in a partnership mode with the City, suggesting it would be <br /> 35 unreasonable to not proceed. He offered to answer questions that arise during public <br /> 36 comment and stated his appreciation to stand before the Council and represent this <br /> 37 project, assuring the Council=that they will not miss the mark with this project. <br /> • <br />