06 - 06.04 - Planning and Zoning Items

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March 8,2006 Dear Pequot Lakes City Council Members: I would like to provide you with some background information concerning the request to consider the zoning classification for property I own. This property is directly north of the Pequot Terrace property,and is currently vacant. I have owned this parcel of property for many years, and before the recent rezoning,the property was zoned multi- family residential. In mid-April,2005,I began having discussions with Carl and Colleen Smith concerning a potential sale of the property. Mr. Smith was interested in the property in order to create a housing development based upon the developability of the property pursuant to its zoning classification. During the discussions concerning the sale,I obtained an appraisal from Melinda Johanneck of Johanneck Appraisals. A copy of the appraisal is included for your review. The appraisal determined that the property had a value of approximately $55,000.00 per acre based upon the multi-family zoning classification. As you may or may not recall,the multi-family zoning classification that existed in the City of Pequot Lakes allowed for higher densities than are currently allowed under the Transition Residential zoning classification. Following receipt of the appraisal,I completed negotiations with Mr. and Mrs. Smith, and a Purchase Agreement was entered into whereby we agreed upon a price of$35,000.00 per acre. After the Purchase Agreement was entered into, Mr. and Mrs. Smith began speaking with an engineer to put together plans for a preliminary plat application. Following that,I received notification from the City of Pequot Lakes,concerning the city-wide rezoning, and was informed that the zoning classification which was intended for this parcel of property was Transition Residential. I, along with Mr. and Mrs. Smith, appeared at hearings before the Planning Commission wherein the zoning classification for this property was discussed. The Planning Commission eventually recommended that the property be rezoned to Transition Residential,and allowed the Pequot Terrace property to the south to be zoned Urban Residential. According to the most recent zoning map which I have been able to see,the property which is located directly west of this parcel is zoned Transition Residential. It is my understanding that the properties which are located directly east of this parcel are also zoned Transition Residential. The property which is located directly south,the Pequot Terrace property,is zoned Urban Residential, and the property which is located north is zoned Agricultural. Even thought the property to the north is zoned Agricultural, agricultural activities are not occurring, at least on the southern portion of that property.