Laserfiche WebLink
• "Potential" 17.5-acre Connexus-owned site located off Sunwood Drive just south of Connexus. <br />Great site, ideal for many reasons —no major issues known. <br />• Hageman Holdings is ready to partner with the city to rezone/ sell their 45 acres located in the <br />future business park. About 25 acres of this property is shovel ready today. The two only <br />concerns with this site are: (1) nearby unsightly users, and (2) nobody wants to be the first user <br />in the new business park. <br />Alternatives <br />Listed below are alternatives for the Council to consider moving forward. Regardless of what alternative <br />is selected, staff will recommend, at a minimum, the 45-acres of Hageman Holdings land contemplated <br />through this process for a business park be rezoned and prepared for marketing/ sale. <br />1. Attempt to force Pearson Properties to rezone their parcel for a business park. <br />2. City purchase the Pearson Property and rezone for a business park (purchase by 11/16). <br />3. City work with Hageman Holdings to find a creative solution on the former Legacy site. <br />4. Don't do anything, see what happens over the next year. Come back to this situation <br />when needed. All of the potential actions below would have an effect on how the city <br />moves forward: <br />• Perhaps the Pearson property doesn't sell, and it is eventually liquidated. <br />• Perhaps a private sector industrial developer does come forward and wants <br />to purchase the Pearson property. <br />• Perhaps PACT Charter does get a deal done in the next 18 months. <br />• Perhaps Pearson sells their property to a residential contractor, and a major <br />residential development comes forward. <br />• Perhaps the real estate market booms or busts. <br />• Perhaps the Connexus site becomes available. <br />NOTE: the City doesn't need to make a decision today —between the existing <br />stock of industrial land, and the Hageman Holdings 45-acres, we are in a very <br />reasonable position to respond to "most*" prospects for the next 2-7 years. If <br />we could get the Connexus Energy 17-acre parcel on -board, that would be very <br />helpful. <br />*City would not be in a position to respond to very large prospects (i.e. 25+ acre <br />sites), and we would not be in a position to respond strongly to prospects that <br />cannot be located near the rail line (we have limited options with great setback <br />from rail). This isn't a major risk/ issue —however, staff believes it should be <br />identified. <br />Page 6 of 6 <br />