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City Administrator Ulrich stated it is estimated this property could generate, at optimal <br />commercial development, $24 million in value and generate City taxes of $500,000 to $800,000 <br />annually at full development. <br />Councilmember Elvig stated he is assuming that with a 14 -acre site, there will be athletic fields <br />and a concern is with getting the highest and best use of The COR property. He noted the City <br />owns a portion of property south of Alpine Drive and west of Armstrong Boulevard where there <br />is surrounding property of 40 acres. That site has traffic access to Highway 10 and may be a <br />good site for this project that has an estate appearance. Councilmember Elvig stated that site is <br />in the back yard of Legacy Academy but creates draw for The COR, and if constructed would <br />draw residential next to the school, creating a handsome mix. He agreed that the option of <br />contribution in lieu of taxation is worth exploring. <br />Councilmember LeTourneau stated this is an amazing project and concept, and he agreed with <br />the aspect of athletics in learning. He stated it has been mentioned the City needs to review how <br />this proposal fits with the overall development plan of The COR and Comprehensive Plan. <br />Councilmember LeTourneau stated he would like to learn more about that, to identify alignment <br />with those two, and also identify gaps so the Council can address placement and opportunity. <br />Mayor Strommen agreed there is an issue of alignment with the vision of The COR and <br />Comprehensive Plan. She stated the City was notified of another potential user with an <br />interesting project that was slightly different and she is concerned with the potential for a case - <br />by -case erosion of that master vision. Mayor Strommen supported it being addressed <br />holistically, including the Planning Commission, and diving into the tax impacts. <br />Councilmember Tossey explained there are commitments with this TIF District that need to be <br />met and this property is to help do that but he is interested in talking about a resolution. He <br />stated the Charter School is incredibly successful with graduates that continue on to college and <br />receive scholarships, all benefits to the community as a whole. <br />Mr. VanAlfen stated it was clear from the beginning that this was not intended for a school site <br />and the Council would have to find auxiliary benefits to make it attractive for a school. He <br />indicated it may be a waste of time if not in the Comprehensive Plan and vision for The COR, <br />but they thought there might be interest beyond what was originally planned. Mr. VanAlfen <br />stated this model is unique enough that it will drive traffic to The COR and draw high density <br />residential that the City wants to accomplish. <br />Mayor Strommen thanked Messrs. VanAlfen and Huffaker for this presentation. <br />3. FUTURE TOPICS FOR DISCUSSION <br />Noted. <br />4. MAYOR / COUNCIL / STAFF INPUT <br />City Council Work Session / February 12, 2013 <br />Page 4 of 5 <br />