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City Council Meeting Minutes October 9,2001 Page 3 Mr. Lutz stated that the existing state of the lot was out of ordinance, and the proposed 2 lot split would bring it into accordance. 3 Jim Prosser indicated that, if there was not a development plan in place, the property 4 provides good opportunity for both parties and suggested that they continue discussions. 5 Councilmember Sparks indicated that she would not like to see another car wash in the 6 space. Mr. Lutz responded that his client specializes in medical buildings, and that it 7 would probably be some sort of small medical development. 8 Councilmember Horst stated he thought it was a good idea to look at the plan in relation 9 to the Northwest Quadrant Redevelopment Plan. 10 Morrison stated that they were going from three lots to two lots, which would give more 11 commercial frontage to one of the lots. Mayor Cavanaugh indicated that, because the 12 single lot was the end lot and not developable standing by itself, it would have to be 13 consolidated with somebody as they move along with the Northwest Quadrant re- 14 Redevelopment Plan. 15 Planning Commission Vice Chair Randy Stille came forward to summarize the 16 conclusion of the Planning Commission on the lot split. He indicated that, without talking to any Legal Council, they saw no reason to not move forward with procedure 4k regarding the lot split. 19 Councilmember Horst questioned the urgency of the lot split. Mornson indicated that the 20 Council has sixty days to make a decision. 21 Mr. Lutz indicated that if they do not approve the lot split soon, then his client would 22 probably move forward with development as is. 23 Mayor Cavanaugh suggested that they table the preliminary plat until the next meeting. 24 VI. REVIEW ITEMS. 25 A. Discuss financial strategies (Jim Prosser, Ehlers and Associates, will be present). 26 Jim Prosser introduced Elizabeth Diaz, his colleague, who was present and had done the 27 preparation for the meeting including the spread-sheets that were to be used this evening. 28 Prosser indicated that it was not a five-year budget, but a set of strategies to be examined on an 29 annual basis. He indicated that they will be able to determine how to balance the financial 30 resources that are available and the outcomes that they want to have for the community. 31 Key Financial Strategies 32 SESSION OBJECTIVES -Review outcomes of Foundation items -operating