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City Council Regular Meeting Minutes August 22, 2000 • Page 11 1 corporate misuse. 1,i3l 2 Mr. Tankenoff stated they agreed to the PUD process rather than a zoning district and 3 have responded to every question raised by the City or residents in an honest and direct 4 manner. He noted the PUD was applied for and there has been consistent work with the 5 PUD and TIF agreements at a large-time and financial commitment. Mr. Tankenoff 6 reviewed the dates for various submittal and considerations,noting the unanimous 7 recommendation of the Planning Commission for approval after two considerations. Mr. 8 Tankenoff stated they have made changes in an effort to receive unanimous Council 9 support and suggested the City is basically getting the preferred plan. He emphasized 10 that Hillcrest Development feels so strongly about this project that they were willing to 11 put their money in first and proceed with no tenants. 12 Mr. Tankenoff noted the percentages for the interim plan, marketing deadline, fascia 13 upgrades, preleasing commitment, and interim use.of the New Market site as a soccer 14 field. He commented on the letter from Liberty, noting this is a premier company with a 15 desire to grow and invest in their office. Mr. Tankenoff suggested that the loss of a client 16 like Liberty will result in the loss of the other two tenants and send out a negative 17 marketing message. Mr. Tankenoff suggested the highest and best use is clearly what they are proposing. He noted other prospects have attempted!to work with this site but not succeeded. He stated 20 that retail is out of the question due to not having freeway visibility or adequate access. 21 This leaves business or residential uses; noting a residential use would need to be 22 balanced with the schools. He stated this proposal allows them to use existing 23 infrastructure which is adequate and does not promote sprawl,noting they have 24 completed projects in the 1950s that remain vital and have stood the test of time. He 25 stated this project is consistent°`with the newly adopted Comprehensive Plan and they 26 have tried to be sensitive to.the City grant application with the Metropolitan Council. 27 Mr. Tankenoff stated this site needs a massive updating and they will work with the 28 watershed district to address issues related to Silver Lake. He noted they will pay up- 29 front for the drainage improvements and there is no bonding or administrative costs to 30 the City. He suggested their project in the Stinson neighborhood is an example that they 31 can accommodate projects in residential neighborhoods. Mr. Tankenoff stated they have 32 seen the vision and path to progress that-is possible and stand before the Council as being 33 ready to make the financial commitment to see the project through. He stated they want 34 to move forward in a partnership mode with the City, suggesting it would be 35 unreasonable to not proceed. He offered to answer questions that arise during public 36 comment and stated his appreciation to stand before the Council and represent this 37 project, assuring the Council`that they will not miss the mark_with this project. •