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MEMORANDUM DATE: June 1, 1994 FROM: RE: Ryan Schroeder, City Administrator Smven Jankowski, City EngSneer Sylvia F, rolik, Zoning Administrator Steve Swanke, Consultant James Gromberg, Economic Development Coordinat Comprehensive Land Use Plan Update I have completed the attached comparative table of the possible options for the updated Land Use Plan. Based upon this chart, all of the options supply the City with over 350 years of commercial/industrial property. The method for these figures is as follows: 35% cover of each acre of commemiaVindustrial property 33,953 square feet of commercial/indus~al space constructed each year. Five-year average between 1989 - 1993. This five-year period could be at the low point of commercia.Uindus~a] building construction. If this is the case, the average would have to be increased ten times. These numbers would change to: Option 4 Option 5 Option 6 Option 7 38 years 50 years 4t years : · 48 5, ears Since this plan is still in the review stage, the City may want to consider the option of reducing the amount of commercialJ'mdusmai property by one-th/rd. This reduction would allow for the City to have between 254 years and 330 years if the current five-year average holds true. If this average is low, and projected building in 1994 and 1995 is over 250,000 square feet., then these numbers could be reduced quite substantially. Tne property that is rezoned should be used to supplement the single family zoning as this appears to be somewhat under represented w/th a build-out of the following rates: Estimate Existing Op. 4 Op. 5 Op. 6 Op. 7 MetropoLitan Council 5 Year Average 3 Year Average 180 per year 7 years t3 years 9 years 9 years 7 years 205 per year 6 years l l years 8 years 8 years 6 years 271 per year 5 years 8 years 6 years 6 years 5 years Since the comCrehensive plans are generally updated even, 10 years, the supply of property for build-out shodld be longer than the 10-year period to allc~w for continued development. This analysis does assume that there would be ]im/ted, multiple family developments and these units are not subtracted for the prQected units absorbed. If the past rate o3 construction is any indication, than the City builds an average of 5.4 units per year. This average is probably very low due to past market indications. As a greater demand for multi-family housing increases and the economy ~mproves, the CiD' ma), see a greater need and a higher building rate for these units. I I I I