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fg <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 of 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 />