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• CITY OF ARDEN HILLS MEMORANDUM DATE: September 18, 1996 TO: Economic Development Committee FROM: Kevin Ringwald, Community Development Director ' SUBJECT: Monthly Report 1. Welsh Companies. The Planning Commission on September 4, 1996 recommended approval of the Welsh Companies development proposal (Planning Case 96-12) in the Gateway Business District. As you will remember the Welsh Companies proposal (Phase I) was for a 154,237 square foot industrial building ($6.5M to S7.0M) on the `'Binger" property, which is located at the northeast corner of Round Lake Road and Butcher's Street. The Planning Commission recommended approval of the applicants request, essentially as requested. However, the recommendation did include upgrades to the exterior of the building to which the applicant consented to. The recommendation of the Planning Commission will be heard by the City Council on Monday, September 30, • 1996. The Staff is continuing to work with Welsh Companies on the development of subsequent phases of this project. Assuming the City Council approves Planning Case 96-12, then Staff would anticipate that the pace of development on the subsequent phases would accelerate. As always, the Staff will keep the EDC informed on development activities in the GBD. 2. Arden Hills Real Estate Sales. The September 2, 1996 issue of the Minnesota Real Estate Journal in its Ramsey County Sales information section contains a transfer of property in the Gateway Business District. The property is 4354 Round Lake Road which is the Round Lake Business Center (Planning Case 86-15). The property was transferred from Prudential Insurance (an institutional investor) to Bayport Properties ( a regional real estate service company). The sale price of the property exceeded the market value of the property (including building) for tax purposes.