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5.0 POLICY & FISCAL IMPLICATIONS 5.1 The Comprehensive Plan Goals and Policies (Section 3) and the Vista 2000 report discourage further commercial or industrial expansion into existing residential areas. Each year the staff accounts for the changes in types of land use by zone. In 2000, the City actually converted a business and industrial zoned property to residential uses; Mendota Homes converted a two-acre industrial parking lot to 10 townhomes and Sunrise Assisted Living is converting the 3.42-acre Knights of Columbus site into 27 assisted living units. Also in 2000 residential and park land designations increased by an estimated 5.5 acres, reducing previously designated or used commerciallindustrial properties by a like amount. The proposed project would return 0.5 acres to a commercial zoning designation, still maintaining the approximate balance of 55% residential zoned acres to 20% commercial industrial acres. 5.2 The proposed project continues the City's effort to diversify the tax base and will add an estimated 15 new full time jobs. It is estimated that the proposed redevelopment will increase the market value of the property and generate over $15,000 in property taxes. The current property produces annual taxes of$665. The City policy for needed infrastructure improvements required by the new development will, as much as is feasible, be the financial responsibility of the developer. In this case there are no added costs to the city for improvements to public infrastructure such as roads, stoplights, or utilities. 5.3 The proposed redevelopment of the parcel into five office condominiums does not require expansion or extension of City infrastructure such as utilities and streets. 6.0 STAFF RECOMMENDATION 6.1 Based on the findings outlined in Section 4 of this report, staff recommends approval of the Comprehensive Plan Amendment, Rezoning, Planned Unit Development General Concept and Final Development Plan, and Planned Unit Development Agreement for the McKinley Companies proposed development of five office condominiums and associated site improvements on property located at 2330 Lexington A venue. 7.0 PLANNING COMMISSION CONSIDERATION 7.1 On January 10,2001, the Roseville Planning Commission held a public hearing to seek citizen comments and to make a recommendation regarding the McKinley Companies office condominium development. At the meeting a number of residents of the adjacent Grandview Townhome Association were present to support the development and to voice their concern regarding pass-through traffic (draft minutes attached). PF3277 - ReA (02/12/01) Page 5 of 6