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13 E. The STEM Development Is the Highest and Best Use for the Property. Lastly, the STEM Development embodies the defining characteristic of the I-Flex district— flexibility. The Comprehensive Plan recognizes the Red Fox Area, where the Property is located, is an area that needs redevelopment. Comprehensive Plan, supra, at 6-9 to 6-10. The Plan notes, “[S]ome of the buildings [in the Red Fox Area] are becoming functionally obsolete for modern manufacturing, warehousing, and business uses.” Id. The Property is located among the locations the City recognizes “may not be cost-effective to convert to other uses and consequently may be nearing obsolescence.” Id. at 8-1. Because the Property has reached obsolescence, a medical device company or other high-tech business requiring updated facilities, is unlikely to occupy the Property. Continuing a use very similar to the historical use, as is proposed by Northwestern, is likely the highest and best use of the Property at this time. The experience of two national commercial real estate brokers supports the Comprehensive Plan’s conclusion that portions of the I-Flex zone, and this Property in particular, are functionally obsolete. The first broker attempted to sell the Property between July and December 2015. The first broker’s prospective buyer protected list included six speculative developers and two users. The prospective users were an architecture firm and another institute of higher education. Subsequently, a second broker took over the assignment from the property owner in January 2016. The second broker’s representative received market feedback that the original property design was not designed as a single-user building for a medical tech company. Two users showed interest in leasing less than one-third of the space. An additional six speculative developers showed interest in repurposing the Property. In the end, the second broker solicited just three offers. Northwestern’s offer was the only one from a user and was higher than the two competing developers. Although the Property may not be in a condition to attract a new high-tech company, the Property has much of what Northwestern needs to run its STEM programs. Northwestern is prepared to make the additional investments required to meet fully Northwestern’s needs. Given the functional obsolescence of the building, post-secondary STEM programs is one of the highest and best uses for the Property. Transitioning from the Smiths Medical use to the STEM development will promote the flexibility the I-Flex was created to facilitate. III. Northwestern Will Be a Financial Partner with the City, Making the City Whole for Any Loss of Tax Base and Contributing a Charitable Gift to City Parks. As a condition to a CUP, Northwestern will make a payment in lieu of taxes (“PILOT”) to make the City whole for the loss of tax base at the Property. To deepen the University’s and students’ ties to Arden Hills, Northwestern also proposes to provide a $80,000 gift to the City’s