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(2) Staff Feedback <br /> • Staff did not spent a significant amount of time reviewing these options. Generally,yes,these sites would <br /> work form a physical site layout perspective. <br /> • These are nice sites(from a development readiness perspective). They include internal roadways, <br /> utilities, mass grading, have been platted, external arterial infrastructure in place,etc. <br /> • Locating Stone Brook on these sites would make for a much easier/cleaner discussion for the City(from a <br /> real estate development perspective/master developer perspective). These sites would generally allow <br /> for this type of use(from a zoning perspective). <br /> • Staff would like to note—there are three potential issues with this site location for Stone Brook: <br /> o Stone Brook only needs 0.9 - 1.0 acres of land. Wasted land would result from development of <br /> Stone Brook on these pre-determined sized sites. Could range from about.25 acre to .45 acre of <br /> wasted land (depending on the site/size of Stone Brook). Because of the pre-determined/pre- <br /> platted lots—it would be challenging to reconfigure lots today. This would also result in a missed <br /> opportunity for tax base. <br /> o These sites are considered premium sties, listed at premium prices($12 per square foot). These <br /> are arguably the only pad ready sites in The COR(most other sites will result in various policy/ <br /> development issues). Staff believes the City has the ability to capture more dollars in land <br /> proceeds on these sites(in comparison to what Stone Brook is offering—$3.00 psf). Selling these <br /> properties at$3.00 psf(or close to)—it would likely trigger a business subsidy process/request— <br /> which Stone Brook is trying to avoid. <br /> o The policy question of"fit"does surface with this particular site location. Does a children's <br /> academy fit here (from a master developer perspective)? Or,was this area visioned for more <br /> traditional retail/restaurants? If the City does move forward with recommending this site <br /> location,staff believes this question may need to be discussed. <br /> Page 4 of 6 <br />