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411.141 <br /> - TONY EMMERICH HOMES - <br /> May 25 , 1994 <br /> Robert Minton , Chair <br /> /s/ Comprehensive Plan Steering Committee <br /> City of Elk River <br /> RE : Input on Industrial Use Portion of the Comprehensive Plan <br /> Update . <br /> Mr . Minton: <br /> We are in receipt of the Notice of Public Hearing letter on the <br /> above referenced matter , and wish to have the following comments <br /> considered by the Committee in lieu bf our personally attending the <br /> May 25th meeting . <br /> Just to give a brief overview of our involvement in the City ' s <br /> process of updating the Comp. Plan, we own the former Lakoduk <br /> property , of which approximately 40 acres is currently zoned P . U .D. <br /> The property has Hwy 10 frontage, and is directly along the West <br /> side of the Fairgrounds . This parcel has been a "hot" topic <br /> • recently because of our sale of 24 acres of this piece to Menards , <br /> Inc . for a store, and conversely , the City and the EDA desiring to <br /> be the Developer of the property for a Business Park . As you will <br /> recall being also a member of the Planning Commission, the City <br /> staff , members of the EDA, the Planning Commission , the City <br /> Counsel , and even a few well placed area residents all spoke <br /> against the Menards proposal and in favor of the Business Park use . <br /> In fairness , the Staff does support a restaurant site out along Hwy <br /> 10 and possibly 5 to 10 acres near this site for other Commercial <br /> users if they are "compatible" with the Business Park concept and <br /> zoning . <br /> We have offered the property for sale to the City and the EDA. We <br /> submitted a proposal and have had several meetings about the <br /> potential purchase . Please note the attached EDA Timeline Sheet . <br /> Given this History then , we, as the Owners of the property want our <br /> desires not only welcomed by the Committee, but given serious <br /> consideration : <br /> 1 . We purchased the Lakoduk property for a substantial amount of <br /> money based on Court appointed and approved appraisals of value and <br /> use for the property . These appraisals clearly show the highest and <br /> best use of the 40 acres I ' ve described to you as Commercial . The <br /> balance of the land has the highest and best use as residential , <br /> which no one has challenged . These appraisals were updated prior to <br /> • our closing on the property , and we had ever right to rely on the <br /> information they contained . <br /> 2619 Coon Rapids Blvd., Suite 201, Coon Rapids, MN 55433 <br />