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City Council Regular Meeting Minutes February 25, 1997 Page 4 1 Mayor Ranallo noted there are currently 17 to 20 people living in the two homes on the 2 property, the total tax value is $148,000 and the property generates $3,000 in tax revenue per 3 year. With the proposed townhome development approximately 14 people would occupy the 4 property, the total tax value would be $1.2 million and the property would generate $27,000 5 in tax revenue per year. He stated the City's goal is to increase the tax base. He also noted 6 City assistance is not required for this project. 7 Marks stated he did not feel this property was appropriate for single family housing due to the 8 traffic situation. 9 Mr. Beach noted the townhomes would provide a buffer for the park and for the existing 10 single family houses around the property. 11 Enrooth noted that one Commissioner was not present at the February 18th Planning 12 Commissioner meeting when this issue was considered and they have indicated that they 13 would have voted in favor of the project. 14 Mayor Ranallo asked if the variance could be considered by the Council this evening as the 15 Planning Commission had not voted on the variance. 16 City Attorney William Soth stated the Council could vote on all three issues, as the Planning 17 Commission had held a Public Hearing on all three issues. He also noted that if the proposal • 18 was approved this evening, the existing easements underlying the plat would need to be 19 vacated. He asked if there would be a common area that was owned and maintained by an 20 Association. 21 Mr. Beach stated each townhome owner would own their own lot. There would be an 22 Association established but it would be managed by the owners of the property rather than a 23 management company. 24 Morrison asked if the preliminary plat could be approved prior to vacation of the easements. 25 City Attorney stated the plat could be approved subject to the easements being vacated. 26 Enrooth asked Mr. Beach when he would begin construction of the townhomes. 27 Mr. Beach stated upon approval of the City Council, he would submit the proposal to 28 Hennepin County for approval and begin construction as early as possible. 29 Judy Makowske, 2919 Rankin Road, stated she was in favor of the project. She felt it was a 30 good use of the property and would be a continuation of the townhomes currently being 31 constructed along Highway 88. She noted that if the property was zoned R-1, it would be 32 impossible to obtain financing as banks do not loan funds to single family housing which 33 faces an industrial area. •