7.0. EDSR 07-11-1994 - Laserfiche WebLink

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I HIGHEST AND BEST USE ANALYSIS POSSIBLE USE The subject parcel is a nearly square shaped parcel containing 1,481, 040 square feet or 34 acres plus or minus. The site has good access, no topographical problems, good drainage, and is large enough to physically accommodate most of the allowable uses under the current PUD zoning. The City of Elk River Development Authority intends to develop the subject site into a Business Park District. The subject parcel is large enough to develop into a number of platted sites of various sizes. We conclude that the site meets the "possible" use test. 11 PERMISSIBLE USE There are no public restrictions which would impede the use of the subject land for Business Park use under the Elk River comprehensive land use plan. The site is currently designated 11 as Light Industrial and Ordinance 94-2 sets forth the documentation to set up a Business Park District on this site. No easements exist which adversely affect the parcel. 11 Therefore we conclude that the test of "permissible" use is met. • FEASIBLE USE 11 Feasibility pertains to the economic productivity of the land. Which use would produce the highest return? The subject site is well situated relative to the traffic flow and surrounding land use. Any use of the site which can take advantage of the traffic and the convenient location would probably be the most financially feasible use. The Business Park Ordinance is quite flexible about the type of uses allowed on the site. We have 11 no doubt that Business Park use would return the highest income to the land. The Business Park Ordinance was passed to establish and provide 11 space for industry that can be attracted to the area. These types of light industrial parks are called "Business Parks" because not all of the uses allowed are of a light industrial 11 nature. Industries that generate a high number of jobs per square foot rather then warehouse type uses are encouraged in Business Parks. Light manufacturing, governmental, business, 11 professional offices, telecommunication, financial or outpatient health care facilities are some of the possible uses as established by the recent ordinance. Certain service industries such as hotels or motels, day care facilities, trade schools, limited retail, or motor vehicle specialty • service stations are allowed with a conditional use permit. 8