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Commercial and Industrial Areas <br />The commercial area is located on I -35 and Highway 50. The industrial properties are in the Air Lake Industrial <br />WPark located southeast of the City. Both areas are near full development and in somewhat stable financial <br />ituations. <br />Zoning: B-4 and I -2 <br />School District: Lakeville <br />Industrial Market Value/Acre: $178,010 <br />Commercial Market Value/Acre: $330,233 <br />ANALYSIS: <br />Commercial and industrial development provides solid positive net fiscal impacts. Standard street and fire service is <br />provided to this area. Police services are very minimal. This particular commercial area represents current <br />suburban development. The commercial area includes Mills Fleet Farm, which is a'tax increment financed project. <br />Industrial properties mainly contain light industry. <br />FINDINGS: <br />IINDUSTRIAL <br />COMMERCIAL <br />rating <br />City School <br />District <br />City School <br />District <br />es <br />rNetImpact <br />$120,819 NA <br />$88,583 NA <br />188,926 547,972 <br />136,258 395,209 <br />68,108 597,972 <br />47,675 395,209 <br />Over all Net <br />616,080 <br />442,884 <br />Per Acre Impact <br />626 <br />5,037 <br />11109 <br />91191 <br />Overall Net per Acre <br />5,663 <br />10,300 <br />Commercial and industrial developments are primary sources of revenue for the City and school districts. Excess <br />revenues from commercial and industrial developments balance the costs of lower value residential developments. <br />Residents provide labor and customers. The City should promote a proper mix of commercial/industrial with <br />affordable residential development. <br />• <br />28 <br />