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Planning Commission Page 5 <br /> October 27,2020 <br /> ----------------------------- <br /> Chair Larson Vito stated the difference in the Upland property was a property <br /> manager who had no ties to the property,but in this instance the property owners <br /> own the property next door and are planning to build on it. She asked why other <br /> IUPs did not require an escrow. <br /> Mr. Leeseberg stated others were an allowed use and this is not an allowed use in this <br /> district. <br /> Commissioner Rydberg asked if there was an alternative to$5,000 cash escrow. <br /> Councilmember Ovall stated a letter of credit with a cost of$250 per year. <br /> Commissioner Johnson opposes the escrow if the ds w be tied up forever. He <br /> supports a letter of credit with an end date. <br /> Commissioner Beise verified with Councilmember Ovall the cost of a letter of credit <br /> for $250 a year or $45 per month. <br /> Commissioner Johnson suggested an escrow of$5,000 or letter of credit with a <br /> sunset date. <br /> Commissioner Jordan sees a real difference between this and the property on <br /> Upland. He stated the applicants are investing in this property and taking$5,000 <br /> from Elk River residents attempting to clean up a nuisance property makes no sense <br /> to him and he is not sure of a solution. He stated it feels like the city does not trust <br /> the property owners to do what they are already doing by cleaning up the property. <br /> Commissioner Thiel stated the Upland property was already cleaned it up. <br /> Commissioner Feinstein stated he also felt like $5,000 escrow was a lot for a private <br /> property owner whereas the Upland property was owned by an investor. <br /> Commissioner Johnson agreed with Commissioner Feinstein and felt like the $5,000 <br /> escrow made more sense for an investment company. He does not know what the <br /> perfect solution is either. <br /> Commissioner Rydberg asked if they could lower that amount. <br /> Mr. Leeseberg stated the city attorney recommended the condition,not the amount, <br /> and$5,000 is suggested if the residents abandon the property in the future to cover <br /> any costs. <br /> Commissioner Thiel asked if it is up to the commission to make the determination of <br /> a letter of credit versus an escrow or can the city council make the final say. <br /> Mr. Leeseberg stated ultimately it is up to the commission to recommend conditions. <br /> 111`41AWRE <br /> . . .. . . . . . . <br />