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o From a real estate development perspective,staff believes the Yolite Street connection is not <br /> needed. And, it is possible to run a private stub road into the proposed Stone Brook site. This <br /> alternative would save the City money(at this point,an estimated $170,928). <br /> o Additionally,from a real estate development perspective,an alternative does exist to wait for a <br /> developer that is willing to take down the entire available site(about 5 acres)at one time. In <br /> that scenario,circulation/utilities/infrastructure could be planned for the entire site as a whole, <br /> and would make this conversation much easier(they City wouldn't be in the role of master <br /> developer). <br /> i. This scenario (waiting for a private master developer)would not allow Stone Brook to <br /> move forward with this proposed site. Stone Brook has respectfully opposed this <br /> option,and asked the City to reconsider. This site continues to be Stone Brook's#1 <br /> desired location. The challenge with this site location for the city is—timing/ <br /> opportunity cost(we have Stone Brook here today, but we don't have a private master <br /> developer that wants to take down the entire site today). <br /> C. REMNANT PARCELS, Staff Development Review Comments <br /> o If Stone Brook was allowed to move forward with this proposed 1-acre site, it would create two <br /> remnant lots. <br /> i. The first remnant lot is roughly 1/2 acre, rectangular shaped, remnant parcel, located <br /> just east of the proposed 1-acre Stone Brook Academy site (just east of the potential <br /> Yolite Street connection). The lot would be roughly 85'wide and 275'deep. <br /> Remnant Lox <br /> 3 Acres <br /> ry � <br /> Stone Brook <br /> Although this size of lot is not ideal/and is not something the City should be seeking <br /> (staff would not recommend for standard practice),considering its location (within The <br /> COR),this remnant site still carries merit/marketable value. The COR allows for zero <br /> setbacks/does not require green spaces,allows for significant lot coverages,allows for <br /> on-street parking,and does not require storm water on-site. In fact,density is strongly <br /> Page 8 of 16 <br />