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1 <br />June 17, 1987 2.90 <br />TO: Jim Andre <br />FROM: Craig Waldron (� <br />SUBJECT: LEXINGTG.; SCHOOL <br />This morning (June 17), Tom Dunwell, the owner of Rose Gallery, <br />and the Rose Gallery attorney met with Howard and me to discuss <br />the Lexington School issue. Essentially, the School has 41,000 <br />square feet of leaseable space, and the purchase price with the <br />School District was set at $1,008,000. <br />The applicants initially proposed a rezoning of B-3 on the entire <br />property. We pointed out that a blanket B-3 zoning would not work, <br />based on the fact that the area is adjacent to R-1, no proposed <br />use for the southern parcels is in place, and the area to the <br />south is part of the recreation system. <br />We also pointed out that if the School is asking a commercial price <br />for the property, it is artificially driving the market. As the <br />meeting later progressed, Dunwell discussed the possibility of <br />residential zoning in the southwest area of the property with a <br />B-3 zone on the southeast corner. <br />Howard and I also discussed the fact that the park dedication <br />applies to this area, thus any development that is proposed would <br />have to meet those requirements. <br />The meeting was left at the point where Dunwell and the developer <br />would start to develop a plan that could meet the needs of all <br />parties. Again, this may prove to be difficult based on the <br />artificial price that the School District is asking for the <br />property. <br />