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DRAFT DOCUMENT,INTENDED FOR CONCEPTUAL CONVERSATIONS ONLY,CHANGES WILL OCCUR <br /> Future Business Park <br /> UPDATE:04/29/2016 <br /> UPDATE <br /> - AL•P_INE+.DRQ <br /> �Z�■ fits <br /> n: <br /> 10. _- <br /> Pearson Properties is no longer able to commit to the new business park land use. The highest priority for Pearson <br /> Properties is to close a transaction on a substantial portion of their land in the next 12 months. Pearson <br /> Properties has a preference to pursue residential land uses on their property,as the market demand for residential <br /> is currently stronger that industrial (i.e.business park). <br /> Because Pearson Properties no longer supports the proposed zoning change(in its entirety), it would be <br /> challenging for the City to implement. The update from Pearson Properties reduces the size of the City's future <br /> business park by roughly 50%. <br /> It should be noted,the Pearson Properties parcel was particularly attractive from a business park perspective due <br /> to its setback from the adjacent BNSF rail (i.e.a substantial portion of that property is sufficiently setback). <br /> Pearson Properties has indicated they are okay with someone else purchasing their property for the purpose of <br /> implementing the City's vision of a business park,so long as a transaction can close within the next 12 months. <br />