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3.0 POLICY IMPLICATIONXISCAL IMPACT <br /> 3.1 The findings of the AUAR and Mitigation Plan for the Twin Lakes Master Plan are <br /> consistent with the Comprehensive Plan as approved on June 26, 2001. Development <br /> proposals that are consistent with the land uses proposed in the AUAR will not <br /> require additional environmental review. If proposed land uses exceed the thresholds <br /> studied in the AUAR, additional environmental review may be required at that time. <br /> 3.2 The time and cost associated with the completion of this planning and environmental <br /> review process (almost 18 months) is an incentive for new development prospects in <br /> Twin Lakes. Future development includes a total of 3 million square feet of new <br /> multi-level offices, medical facility, high-tech flex facilities, service mix and 500 new <br /> housing units. In addition, approximately $300 million in new development will <br /> create approximately $7 to 8 million in new property taxes and approximately 5,000 <br /> new jobs. <br /> 4.0 SUGGESTED COUNCIL ACTION <br /> 4.1 By resolution (draft attached), approve the final Alternative Urban Area-Wide Review <br /> and Mitigation Plan as presented on June 26, 2001 with no additional changes. <br /> Attachments: Draft Resolution and Letter from DSU <br /> Prepared by: Dennis Welsch (490-2232) and Cathy Bennett (490-2241) <br /> Q:\Planning Files\3232_TwinLakesRenewedPlan\AUAR and EAW\RCA Twin Lakes AUAR final approval(0$1301).doc <br /> PF3232 -RCA (081301)Page 2 of 2 <br />