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3.2 After providing a purchase option to Mr. Reiling, the final sale would be contingent upon <br /> the proposal being positively recommended by the Planning Commission and approved <br /> by the City Council under the Planned Unit Development process. <br /> 4.0 PLANNING COMMISSION RECOMMENDATION <br /> 4.1 The Planning Commission reviewed the existing and future land use of the property and <br /> recommended Council approval of the sale of 2668 Lexington to George Reiling as part <br /> of the proposed senior housing development. This type of use is consistent with the lot's <br /> future land use designation as high density residential in the comprehensive plan. <br /> 5.0 SUGGESTED COUNCIL ACTION <br /> 5.1 By motion, approve the sale of 2668 Lexington Avenue to George Reiling at an agreed <br /> upon appraised value and with the contingency that the land be used as part of a proposed <br /> senior housing development. <br /> 5.2 By motion, authorize staff to hire an appraiser from the City's consulting pool to <br /> complete a market appraisal of the lot. <br /> Prepared by: Cathy Bennett (490-2241) <br /> Attachment: Letter from George Reding; Location Map <br /> Q\Planning Files13202_2668 Lexington\RCA(05082000).doc <br /> PF3202-RCA(05108100)-Page 2 of 2 <br />