7C, Planning Case 10-008 - Arden Plaza Master & Final PUD

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Commissioner Modesette stated the approval of this amendment does close the door on the construction of building 3 and with that being the case she would like to have seen the property laid out differently and the proposal include the expansion of building 4. She clarified her preference would be to see the developer work out an agreement with Walgreens and move forward with some development on this site. She asked Dennis Trooien what the logic was for maintaining the option to build building 3 if Walgreens does not want to have adjoining tenants and this is a point of contention in the negotiations. Mr. Dennis Trooien, owner Arden Plaza LLC, stated there was the possibility that building 3 could be built in the future. Walgreens may buy lot 3 and if their business model changes to include additional services such as a clinic or they have a need for expansion they may then develop building 3. He explained that Walgreens would be informed that the development of building 3 must conform to what the City has approved as part of this development and would need to be attached to their building unless they request an amendment from the City. Walgreens has not indicated they would sign an agreement if building 3 were removed from the requirements for Phase I but this would substantially assist in the negotiations. Commissioner Zimmerman asked about CVS Pharmacy and if they were a potential tenant. He also asked where they would stand on the development of building 3. Mr. Trooien stated CVS had expressed interest in the property three years ago but Walgreens had won out. The economy has impacted Walgreens moving forward with the development of this property at this time. He stated that they have started talking to CVS about the property and their interest in it as a back up to the Walgreens negotiations not working out. He also stated the development of building 3 would be the same for CVS. Both of these tenants would like to purchase lot 3 in order to gain the additional acreage for future expansion, additional parking, or other development but they do not want to put in a situation that requires them to construct this building immediately. Commissioner Reiff asked if both Wellington Management and Arden Plaza LLC have actively recruited potential tenants for building 3. Mr. Trooien stated that they have actively looked for tenants but have been unsuccessful at this time and the overall demand for this type of space is low. Chair Larson opened the public hearing at 7:17 p.m. Chair Larson invited anyone for or against the application to come forward and make comment. Chair Larson closed the public hearing at 7:18 p.m. Commissioner Reiff moved, seconded by Commissioner Thompson to recommend approval of Planning Case 10-008 for an Amendment to the Mast PUD and Final PUD for