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4.4 Staff has detern1ined that the parcel does not have the size or access necessary to create a high-density residential development and that a low traffic generating, neighborhood friendly, job producing, office condominium use is an appropriate zoning buffer for the adjacent townhomes to the east. 4.5 Additional off-street parking can be provided (seven spaces) on the north side of the building and parking lot should the City determine it necessary do to demand. 4.6 Staff has also determined that the proposal to construct five office condominiums is consistent with the B-1, Limited Business District, especially when regulated by a PUD overlay zone. 4.7 A draft Planned Unit Development Agreement has been created to identify the parameters under which the office condominium development must abide (see attached). 4.8 During the Sketch Plan review (November 8, 2000), the Planning Commission requested more architectural relief or variety in the front (west) and rear (east) facades of the proposed condominium structure. The applicant has submitted a detailed set of development plans including a site, grading, landscaping, elevation, and building floor plans, for the Commission's consideration. These plans may need minor revisions prior to final approval by the City Council. 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. PF3277 - ReA (01/22/01) Page 4 of6