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C The Redevelopment Authority <br /> November 15, 2011 Meeting Minutes <br /> their guests. The parking access would be off the alley. Mr. Alvarez thought this is <br /> a good use for this property. Mr. Alvarez asked where people will shop. Mr. Relos <br /> said we need more critical mass before the stores will come. Ms. Pfotenhauer <br /> asked about the occupancy rate of Stephenson Mill and Mr. Relos said it is full. <br /> Mr. Meteiver said they just went through a major refinancing and got some <br /> investment tax credits. <br /> Mr. Meteiver said the view easement would allow the Authority to continue to use <br /> their property as a parking lot, and allow the portable rest room facilities to be <br /> between the Authority's property and the race —that property is owned by the Park <br /> Department. Any trees that currently exist on the property would remain. If any <br /> trees are removed then any new trees will be subject to a six foot height limitation. <br /> There are a lot of trees along the Park's property now that are not affected by this <br /> agreement. Mr. Matthews is working with the Park Department on this issue, as <br /> well. The northwest corner of Mr. Matthew's property is the dominant property in <br /> this easement. Mr. Alvarez asked what Mr. Matthews would build in that corner. <br /> Mr. Meteiver said he can build what ever he wants there. He thinks the City has a <br /> development agreement with Mr. Matthews for the whole development. <br /> Ms. Pfotenhauer asked what would happen if the development wouldn't happen <br /> for some reason. Mr. Meteiver said the easement is not contingent upon any <br /> development. Mr. Matthews arrived at this point, having been delayed by a <br /> meeting that ran an hour over. Mr. Matthews said he would be happy to have the <br /> easement be given back to the Authority if he doesn't build in the time agreement <br /> established with the City. Ms. Pfotenhauer asked if that could be added into the <br /> document for clarity. Mr. Matthews said he didn't think his attorney would have <br /> any objection to that. <br /> Ms. Photenhauer wondered if Mr. Matthews had something in mind for the <br /> commercial property. Mr. Matthews said the commercial property on the north <br /> will be a ground floor café and a second story restaurant with an outside bar that <br /> folds off of it onto the rooftop. He will not build the southern commercial <br /> property until he has a tenant who wants it. He said there will be 70 parking <br /> spaces. <br /> Mr. Alvarez asked how the Rink site development was going. Mr. Matthews said <br /> there were some delays in building but there is only one unit that has not been <br /> sold. The development is moving quickly now. There are six premium lots, with a <br /> potential of ten units. He thought the Rink site would probably be built in phases <br /> over three years, but all six were built in the first phase with just one left to be <br /> sold. The demand was much higher than anticipated. <br /> Mr. Matthews said right now he is putting up sixty four condos next to Notre <br /> Dame—townhomes, flats and estates, from 1,400sft to 5,400sft each. This is a <br /> 2 <br />