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� ��0 4.0 GENERAL UPDATE: • a� 4.1 Since the February Planning Commission, the Community Development and Public Works s2 Department's presented the draft Twin Lakes AUAR Infrastructure Allocation Study and 3s introduced the Twin Lakes Public Financial Participation Framework to the Council. s�� 4.2 The CiTy's traffic consultant, SRF, has completed the traffic study specific to the McGough s5 proposal and provided staff and McGough with recommended modifications based on the Twin s6 Lakes AUAR. s� 4.3 The Planning Division has also met with representatives of AmWest Development and CSM to �n discuss their interest in redeveloping specific parcels within Twin Lakes. Although no formal _.� submittals have been provided for consideration, it is assumed that two proposals will be �,o forthcoming within in the next three months. ^ � 4.4 The Twin Lakes Operations Team continues to meet regularly and discuss issues critical to __ shaping and guiding development within Twin Lakes. . 4.5 McGough Development has also provided revised plans that address their interest in creating �� pedestrian connections to the park and other public amenities within their redevelopment. �� 5.0 PROJECT SPECIFICS: �c; 5.1 McGough Development's proposal would be designed/developed as a corporate campus and � � include two, 6-story office buildings totaling 475,000 sq. ft.; a 1-story, 100,000 sq. ft. ;fs office/laboratory; a 3-story, 530 vehicle parking structure; a 4-story, 903 vehicle parking °<. structure, 5 surface parking lots totaling 577 stalls, three storm water management areas/ponds, �so and other site improvements/amenities. 51 �z 5.2 This proposal requires approval of a REZO1vnv� of the property from I-1, Light Industrial and I-2, ��:� General Industrial District to PLANNED UNIT DEVELOPMENT with an underlying zoning of B-6, �s ! Mixed Use Business Park and approval of the GENERAL CONCEPT PLANNED UNIT �:� DEVELOPMENT, the specific drawings and conditions thereof must achieve compliance with the �� Comprehensive Plan, Twin Lakes Master Plan, and the Urban Design Principles. J% �� 5.3 Future actions may include the replatting of the existing 6 parcels and dedication of necessary ,�� right-of-way and public easements, as well as the possible vacation of certain public easements. c,a ` � 5.4 An alternative scenario, a professional office campus, would be incorporated into the e2 redevelopment proposal. This alternate scenario would most likely eliminate some or all of the �3 structured parking; replace the office/laboratory building with one or two office buildings; and � � include building sizes and heights adjushnents. 65 �c 5.5 The professional office campus concept is not as desirable to McGough as the corporate c� campus. However, it is an option that allows redevelopment to proceed forward should a �� corporate campus tenant not be secured by McGough. A professional office campus will also be �� better able to incorporate flexibility of building placement and perhaps better achieve a greater 7o mix of the Urban Design Principles. � Page 2 of 13