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is more focused oi� residential development. The city could develop a third <br />development scenario that has a greater amount of affieelcorrim�rcial development <br />with a decreased amount of housing. As described above, this would allow for <br />greater flexibility and make the AUAR Update more responsive to future market <br />demands. <br />Preparing a third alternative will is more costly than the other alternatives and will <br />lengthen the tim�lir�t; of the project by at least two weeks. DSU estimates that it will <br />cost an additional $23,000 to $28,000 to develop this alternative and integrate it into <br />the existing draft Final AUAR Update. (Attached is a letter prepared by DSU <br />explaining the additional costs.) Although there is increased cost, this alternative <br />creates a more dynamic mitigation strategy as it has a more robust worst-case <br />scenario for a greater diversity of potential projects. <br />4.0 STAFF RECOMMENDED DIRECTION: <br />4.1 Staff recommends that the City Council direct staff to complete of the Twin Lakes Business <br />Park AUAR Update. Any future redevelopment of the area would occur either by a master <br />developer or on a parcel-by-parcel basis. In either event, an AUAR will serve as an ideal <br />environmental review tool that will take into consideration cumulative impacts created <br />within the larger redevelopment area. An AUAR provides a comprehensive environmental <br />framework from which to mitigate environmental impacts created from unrelated projects <br />within AUAR area and helps to mitigate the pitfalls created through parcel-by-parcel <br />redevelopment. <br />�i� addition to environmental benefits, an AUAR is an economic development tool that can <br />help the city facilitate efficient redevelopment within the AUAR area. When prospective <br />developers are in a site selection process, completed environmental review is a significant <br />decision-making criterion. Unknown cost, mitigation requirements, and time delays to <br />complete the environmental review are taken out of their equation when an AUAR is in <br />place. <br />4.2 Staff also reco�nrnends that the City Council chooses to prepare a third alternative. A third <br />alternative will increase the flexibility of the AUAR Update and allow the document to be <br />more responsive to market forces. <br />5.0 REQUESTED COUNCIL ACTION <br />5.1 Staff requests that the City Council discuss how they would like to proceed with the Twin <br />Lakes Business Park AUAR Update. <br />Page 4 of 4 <br />