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<br />... <br />, <br /> <br />Amemdment to Planned Unit Development <br /> <br />The ex is t i ng deve 1 opments on the property i nc 1 ude a <br />Slumberland Furniture store and a two story Investors <br />Savings Bank and office building. The property remaining to <br />be developed is approximately 5.9 acres. <br /> <br />The original PUD had called for an extended stay ·hotel and <br />an office building to be developed on the remainder of the <br />site. However, due to the high vacancy rates in the office <br />market as well as the highly competitive room rates in the <br />hotel market it is not feasible for an office building nor <br />an extended stay hotel to be constructed on this site. <br /> <br />The proposed Amendment to the PUD i nc 1 udes deve 1 opment on <br />the vacant 1 and of a 9,100 square foot restaurant on an <br />approximately 1.72 acre parcel and the construction of an <br />8,000 square foot bank on an approximately 1.71 acre parcel. <br />The remaining parcel of approx.imately 2.47 acres will be <br />developed for commercial use. <br /> <br />The site is relatively flat and drainage will be in <br />accordance with the grading and drainage plan attached. <br /> <br />Each property would provide for parking as required by <br />ordinance for its respective use. <br />