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Statement of Purpose & Intent <br />McKinley Fair Planned Unit Development (P. U. D.) <br />The McKinley Fair PUD will allow long vacant and underutilized parcels of land to be productively developed in multiple <br />phases in a variety of uses to include: Commercial as currently zoned, residential, multi- family and also self storage. <br />Design: Quality affordable design guided by current trends in environmentally sound construction techniques and <br />materials to meet the needs of the marketplace within the pricing structure of the end product. <br />Project Costs: It is not possible to pinpoint the cost to fully develop this mixed use P.U.D. For purposes of discussion <br />and approval, the developer has anticipated the most likely product mix of commercial, residential & storage uses and <br />has calculated the cost accordingly. This cost when completed is estimated at Twelve — Fifteen Million Dollars <br />($12,000,000 - $15,000,000) and full Development is projected at 4- 7 years. <br />Developer: Earth Designs Real Estate Development L.L.C. incorporated in 2008, is owned by Frank and Jennifer <br />Perri. Mr. Perri has been engaged in the real estate business for over 32 years. He has expertise in the development of a <br />variety of real estate projects ranging in size from $500,000 - $30,000,000. These projects have included both speculative <br />& build to suit projects and include office, industrial, residential and hotel ventures, as well as land development. <br />Project Profile: McKinley Fair PUD site plan allows the development to meet emerging market demand in a variety of <br />commercial & residential uses that will combine to create a viable economic model and add value to an older, mature <br />neighborhood whose values have declined substantially from their peak. <br />Features that are planned for the site include: <br />• Creation of Community Gardens for any residential development <br />• Use of Rain Gardens for storm water detention <br />• Pedestrian connections to nearby shopping created to encourage walking & cycling <br />• Site will utilize wind turbines which shall power exterior lighting to the extent of <br />economic feasibility <br />Overall, the goal is to transform this large, urban infrll site into an efficient, affordable mixed use development reflecting a <br />New Urbanist design approach within the context of the market driven economics of the project. <br />Filed in Clerk's Office <br />JUN w8 C'1 <br />JOHNVOORDE <br />CITY CLERK, SOUT4 SEND, IN <br />