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• Track of the Wolf, Inc. <br /> ■ 20,000 s.f. total, 10,000 s.f. per floor <br /> ■ Primary tenant — Track of the Wolf, Inc., a niche market <br /> retailer <br /> ■ Other possible tenants include other niche retailers and a <br /> large single user for the second floor <br /> Elk River Municipal Utilities <br /> ■ Proposed building would be approximately 8-10,000 s.f., <br /> two stories <br /> ■ Primary user— Elk River Municipal Utilities — proposed <br /> need 7-8,000 s.f. <br /> ■ Second story would be available for lease to <br /> business/professional office users <br /> ■ Plan to purchase land now and wait to build until space is <br /> needed — approximately 2-5 years <br /> KMR Partners <br /> ■ Two different building size proposals — one at 21,000 s.f. <br /> (1), another at 45,000 s.f. (3 stories) <br /> ■ Would include a combination of surface/street parking and <br /> • underground parking for the larger building <br /> ■ The smaller proposal is for a 3-story office/retail building <br /> and the larger proposal is for a 3-story building with <br /> commercial on the first floor and residential on the second <br /> and third floors <br /> ■ The project will be an investment property developed <br /> either into a shared condominium or coop ownership <br /> Both Elk River Municipal Utilities and Track of the Wolf, Inc. have <br /> indicated they have no desire to lease space in any facility. The best <br /> possible scenario may be for a developer such as KMR Partners to put <br /> together a condominium project (each tenant owns their own space) and <br /> include in such project Municipal Utilities and Track of the Wolf, Inc. <br /> Due to the various space requirements and needs of these two <br /> companies however, it may not be possible to design such a project. <br /> Staff has visited Track of the Wolf, Inc. and feels the business would <br /> provide a unique niche fit in the downtown area. It also appears that, <br /> with the sale of their existing facility, they would have the financial <br /> means to complete such a project. Staff feels it is necessary to note the <br /> importance of attempting to keep the Municipal Utilities offices in our <br /> • downtown area as well. In preliminary discussions with Utilities <br /> Manager Bryan Adams, staff has indicated that some payment in lieu of <br /> taxes would likely have to become part of any proposal on the King and <br />