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Background/Discussion <br /> The Economic Development Authority and the City of Elk River propose the second phase of the <br /> Natures Edge Business Center. This phase will provide developable land in the Highway Commercial (C- <br /> 3) and Business Park (BP) zoning districts generally south fo t the first phase of Natures Edge Business <br /> park. <br /> The second phase is 45.15 acres in size and includes three lots for commercial development ranging in <br /> size from 2.89 acres to 7.04 acres, and two business park lots at 5.91 and 8.67 acres. <br /> Plat <br /> The plat creates five buildable lots and two outlots for future development. One of those outlots is for a <br /> potential interchange;it is being retained until the access issue is better understood. Right-of-way for two <br /> roads,Twin Lakes Road and 168th Lane, are also included in the plat and identify locations for future <br /> connections. <br /> Lot 1,block 1, and lot 1,block 3,include wetlands that may be used for treatment of runoff from future <br /> development. City staff identified the need for a 45 foot drainage and utility easement around the <br /> delineated edge of the wetlands to help developers plan accordingly. City ordinance requires a 25 foot <br /> wetland buffer strip around all wetlands and an additional setback of 20 feet from the buffer strip for <br /> structures and pavement. <br /> FAST Study <br /> The FAST Study identifies this area for development as destination retail and jobs (light industrial). These <br /> uses require proximity to major roadways for access and visibility. Visibility is provided via proximity to <br /> Highway 10 and access will be provided with the future intersection of Twin Lakes Road and Highway <br /> 10. City plans identify Twin Lakes Road as a primary north-south alternative to Highways 10 and 169, <br /> and primary highway connection will be just south of the proposed development. The right-of-way for <br /> the extension of Twin Lakes Road to Highway 10 is included in the plat,but only half of the boulevard <br /> will be constructed. Twin Lakes road will terminate temporarily just south of the intersection with 168th. <br /> Financial Impact <br /> City,Utility,and Economic Development Authority funds will be used to develop the plat. <br /> Attachments <br /> • Location Map <br /> • Preliminary Plat dated May 26, 2014 <br /> N:\Departments\Community Development\Planning\Case Files\P\P 14-05 Natures Edge Bus Ctr 2nd\P 14-05 Natures Edge Business Center 2nd <br /> SR to PC 7-22-2014.docx <br />