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I I I Council Meeting Minutes February 9, 1993 Page 1 2 Council Business. continued The area south of Jones Lake is target site #1 in the Old Hwy 8 Corridor Plan, and the City's goal is to create a business park for light industrial businesses. The area is zoned industrial and consists of single family homes, commercial uses and vacant land. The Jones Lake area is large and has been split into 3 sub-areas, north, south and central districts. John Allen, developer, said the Industrial Equities Group (lEG) proposes the development of the lakeview Business Campus which would encompass most of the land south of Jones lake and north of TH 88. The U.S. West project would be located in the northernmost portion of the business park. It would be a 110,610 sq. ft. facility with an estimated value of $3.8 million. lEG is prepared to commit to develop a second 44,000 sQ. ft. office/showroom building in the south district. No buildings are currently projected for construction in the central district. Locke said the City action needed in the lEG Development Agreement is for site acquiSition. He noted that there have been no changes made to the U.S. West Proposal which was reviewed by Council in December. Both proposals are consistent with previous Tax Increment Financing Projects. Locke showed the location of the public road which is proposed to be constructed behind the Pletcher property. He noted that detailed surveys of the road dimension and design have not been completed. The concept plans have been reviewed by the Planning Commission, but plat approval and site plan review will be presented at a future Commission meeting. Other actions regarding the proposals will be considered at future Council meetings. Gunderman's major concern is the location of the road. Locke noted that since this would be a public road, the normal platting process would address any concerns. Gunderman questioned whether the road location is an important variable to the success of the John Allen proposal. John Allen confirmed that four different concept plans were reviewed to determine the best location of the road. Much time was spent on determination of building sites, setbacks and safety. He feels the proposed location is the best concept reviewed. Proper said the utility and street improvements are divided into three phases. Phase I consists of the easterly extension of 5th St. plus sanitary sewer, watermain and storm sewer to serve the U.S. West development. The public streets and utilities are proposed to be paid for from tax increment funds. However, one possibility may be the use of MSA Funds, this is still under investigation. Council Business Items relating to the Jones Lake Area Report 93-038 Report 93-041 Report 93-042 Report 93-043 Resolution 93-018 Resolution 93-019 Resolution 93-020 Resolution 93-021