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EDC Minutes March 17, 2010 Page 4 of 6 C. TCAAP Update and Proposed Zoning Regulations (continued) Chair von Holtum asked if the zoning regulations would limit the number of potential buyers. Community Development Director Lehnhoff felt the zoning regulations would guide buyers into the purchase of the site making them aware of what would be allowed on the site. He fully expected the buyer would petition for rezoning in several areas of the site to meet their own redevelopment needs. Mr. Davidson questioned why the City was opposing large retail within the TCAAP redevelopment. He felt this may hinder the retail development of the site. In the end the market would drive what would be placed on the site. He encouraged the City to be creative through the redevelopment process to invite new uses to the City. Mr. Erickson suggested the language be rewritten to allow for a certain percentage of big box retail to become anchors for the retail development. Community Development Director Lehnhoff stated the current state of the economy would effect the development and retail on the site. He explained that the TCAAP site may not be developed for three to five years. Council Liaison Harpstead indicated this would lead the planning process to plan for the long term in hopes of having a successful development for the next 50+ years. He challenged the EDC to review the document to provide feedback that would be in the best interests of the City. Chair von Holtum questioned how the property would be brought back onto the tax roles. Council Liaison Harpstead reported the City receives no revenue at this time due to the fact it is federally owned. After the deed transfers, the County would place a market value on it after all remediation was complete. Chair von Holtum suggested holding another EDC meeting in April to further discuss the zoning regulations. UPDATES A. TCAAP Other Projects Community Development Director Lehnhoff explained the Chamber of Commerce would be hosting an Economic Development Summit on April 6. 2010. He noted he would forward an informational email to the EDC. Community Development Director Lehnhoff stated the Arden Village proposal received approval from the City Council last Monday. This would create a 55 -unit workforce housing building in the City. At this time, the financing was still being worked on.