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approximately 1.45 acres (63,162 sq. ft.) in size. Assuming that Lot 4 is <br /> approximately 300 feet from north to south, and that the City will take a 60 foot <br /> right of way, 18,000 sq. ft. will be taken, leaving 45,162 sq. ft., or just a little <br /> more than an acre. More importantly, however, will be the effect of that taking <br /> on the remainder of Lot 4. Among other damages, (1) uses will be limited by <br /> reason of the smaller size of the remainder; (2) development will have to be <br /> scaled back, again by reason of the smaller size of the remainder; (3) setbacks <br /> will have a more material effect on development; (4) potential parking areas <br /> and potential green space will be lost; and,.(5) if the street is constructed in <br /> somewhat of a straight line, as one would expect, Lot 4 will be divided into two <br /> parcels, neither of which, presumably, would be suitable for development. <br /> We could ask the City to be mindful of the points we raised in our <br /> presentation to the Planning Commission on October 28, when we expressed <br /> our concern that it appeared that the City was in the process of down zoning Lot <br /> 4 from commercial to residential, in view of the City's apparent future plan to <br /> make Lot 4 a city street, but we are uncertain whether that would have any <br /> effect on what the City plans to do. We do want the City to know, however, <br /> how much the owner has invested in Lot 4, and how much the owner has <br /> expended to hold Lot 4 for future commercial development. The owner's <br /> October 28 presentation makes the record clear on those points. In particular, <br /> we noted at the time of our earlier presentation the following: <br /> "I. The property is ready for commercial development. Lot 4, <br /> Block 1 is a 1.45 acre, pad ready, commercial site, with city sewer, water, <br /> storm sewer and street. It is ready to be developed as a commercial site. <br /> "2. The City has agreed that the site is to be commercial. In both <br /> the Planned Unit Development Agreement and in the Developer <br /> Agreement made by the City with regard to this property, the City has <br /> agreed that the lot is to be commercial. Please refer to those agreements, <br /> both dated July 26, 2001, with regard to the obligations placed on both <br /> the owner and the City with respect to the use of the subject property. <br /> 2 <br />