Agenda - Council - 02/26/2024 - Laserfiche WebLink

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stalls. He noted that the Valvoline price to construct the parking was slightly less than the Take 5 parking construction costs. He stated that the Take 5 concept provides a connection between the developments, whereas the Valvoline plan does not provide that connection. He commented that Take 5 has been very responsive to staff while it has been more difficult to get information from Valvoline but anticipated that if Valvoline was asked to provide that same connection, that cost would increase as well. Commissioner MacLennan referenced the remnant space that would be left and asked if there would be an agreement for the party to construct the other business within a certain length of time. He also asked what type of business would be anticipated. Economic Development Manager Sullivan replied that the concept proposed a restaurant/drive- thru business, but it could also be a multi -tenant retail space. He stated that there would not be a requirement to build upon that part of the land, but the business would be purchasing the property at asking price and therefore there would be incentive for the business to develop that parcel. Mr. Eaton commented that they are motivated from both a financial standpoint and increased traffic point of view. He stated that his retail broker has had initial discussions with some groups, and he has spoken with developers related to food, coffee, and dental users. Economic Development Manager Sullivan commented that there is already a dental user in that area and therefore a dental user would not be preferred I such close proximity. Mr. Eaton replied that would also not be their preference for users. Member MacLennan asked if the business would be building and leasing the space. Mr. Eaton commented that their preference would not be to sell, but there are different options to consider. He stated that they do have the capability to build for another user. Member Riley referenced the requirement for the parking lot and asked where that would be located. Economic Development Manager Sullivan identified the parking stalls that would be built as part of the requirement the City would have upon development of that area. He stated that the idea was to provide additional parking for the employees and/or customers of the building south of that area. Member Riley commented that he is supportive of this use and would like to see the lots connected as proposed. Member MacLennan commented that he was in that southern building, and it can be tough to get in and out. He wanted to ensure that the parking is available to all users and that there is a good flow for traffic. He commented that this is an odd shape lot, and it is great to see a proposed use. Economic Development Authority/ February 8, 2024 Page 3 of 4