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Mr. Timothy 1. Nelson -5- December 3, 1996 A3 stated in the preceding paragraph, the Twin Lakes Development Subdistrict encompasses about 95 acres. The Part I and Part II development properties referenced in the Development Agreement have a total size of 16.42 acres and are being developed to include a total of260,000 square feet of office/warehouse/showroom space. Subtracting the 16.42 acres from the total of9S acres results in 78.58 acres of property remaining to be developed within the Twin Lakes Development Subdistrict. If that remaining property is developed at the same floor area ratio as the Part I and Part IT development properties, the potential additional development in the Twin Lakes Development Subdistrict is 1, 240,000 square feet of office/warehouse/showroom space. Summing this additional development with the 260,000 square feet encompassed by the Part I and Part IT projects, the total potential development in the Twin Lakes Development Subdistrict is 1.5 million square feet of floor area. This 1.5 million square feet of space does not include the projects that the Developer already has constructed in the Twin Lakes Business Park, which consist of 122,072 square feet of office/warehouse/showroom and 69,403 square feet of office space. Also, in conjunction with an earlier Agreement, the Developer is committed to construct an additional 35,000 square feet of office space to expand upon the previously referenced 69,403 square foot office development. On page 8 of the "Guide to the Rules," eight criteria are presented that are utilized by EQB staff to determine if potential future stages constitute phased actions. In correlating these criteria with the Development Agree~ent, it is our determination that current development in the Twin Lakes Business Park definitely consists of a series of phased actions. Particularly significant items that have led us to this conclusion are: - Close proximity of the development properties (criterion 1) - Provision of development rights for future stages through the right of first offer ( criterion 2) - Plans by the City to construct Twin Lakes Parkway through the Twin Lakes Business Park area to serve future stages of development (criterion 4) - Significance ofthe right of first offer to prejudice decisions about future stages (criterion 5) - History of the Developer in completing three other developments in the Twin Lakes Business Park, in addition to the two development properties addressed in the above referenced Development Agreement, and in addition to the right of first offer on other development properties in the subject area (criterion 7) In addition to the current development in the Twin Lakes Business Park constituting phased actions, it also is our judgment that such development constitutes connected actions according the "Guide to the Rules." Page 9 in the "Guide to the Rules" presents three criteria that are applied in determining whether projects constitute "connected actions." In our judgment the history of development and planning addressed in this letter, together with provisions in the Development Agreement, clearly create a situation that meets the first criterion, namely that develC'pment on one property in the Twin Lakes Business Park will induce development on other properties in the business park.