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2.0 SITE CONDITIONS EXAMPLES: (see attached maps and diagrams from August, 2002) The owners have demonstrated concern for the declining value of older, existing buildings in a slow economy, especially when buildings are only partially leased. From the owners' perspective a steady cash flow demonstrates building value. It is better at this time to have these buildings fully leased during their useful life with conforming (or non- conforming uses), waiting for a later strong market to redevelop as the older buildings either fail or lose market acceptance. Long term (estimate 15 years), the owners are supportive of the Twin Lakes Plan. However, being fully leased in today's slow market simply requires being as flexible as possible (with minimal city review time) to accept most uses as new or expanded tenants. The condition some of the buildings and development is as follows: 2.1 Northco which owns 7 parcels consisting of 30.15 acres and approximately 455,000 s.f. of building space, states that of its estimated 33 tenants, only 11 % would be considered "permitted uses" within the new "B-6" zoning district. Because these buildings are more than 20 years old, none of the buildings entirely meet the existing zoning requirements. 2.2 St. Paul Companies, which owns 5 parcels consisting of 21.6 acres and approximately 339,000 s.f. of building space, states that of its 18 tenants, approximately half of the current users would be considered permitted uses in the new "B-6" zoning district. Because these buildings are more than 30 years old, none of the buildings entirely meet the existing zoning requirements. 2.3 Reco/Regan, which owns 3 parcels consisting of21.3 acres and approximately 121,700 s.f. of building space, as well as options on an additional 6.2 acres that (as of August 7, 2002) is vacant. Reco/Regan states that of its 10 vehicular repair and transportation related tenants, most may not have proper permits under the existing codes and few would be considered permitted uses in the new "B-6" zoning district. Because these buildings are more than 34 years old, none of the buildings entirely meet the existing zoning requirements. 3.0 ALTERNATIVES: 3.1 The Commission should discuss and consider all aspects of the property owners' proposed permissive language amendments that provides for pre-existing uses to remain and expand (even if nonconforming) in the "B-6" "Mixed Use Business Park District". 3.2 The Commission should provide the City Council with a recommendation to amend, clarity, rewrite or retain the "B-6" "Mixed Use Business Park District" text. Alternative solutions include: a. Accept all language as proposed by owners. b. Accept some of clarified language as proposed by owners and City Attorney c. Recommend that specific parcels owned by the applicants be removed from the B-6 zoning district proposed for Twin Lakes until some future time when there is market demand for more upscale and flexible redevelopment regulations. PF3359 - PF3359-RPCA(I00202) Page 3 of9