PowerPoint Presentation (Added on 10/5/21)

CIOSI Glen Lakes Remnant Parcel
October 12th, 2021
Workshop
Follow-up to June 8th, 2021 Workshop
Don Bessler, Engineering
Brian Friedman, Economic Development

Previous Action
2
•June 8, 2021 – Staff reviewed Scoping 
Statement with Council – consensus to 
move forward
•March 23, 2021 - Councilmember 
Turner requests item – consensus to 
scope project

Consensus Direction Provided
3
• Consider options for the sale of the parcel
• Engage Economic Development staff to 
provide a market analysis 
• Provide Council rezoning information
• There may be uses that are not desirable 
• Encourage neighborhood engagement
• Sale strategy will follow Council review

Economic Development Analysis
4
• Economic Development reached out to Nathan & Associates for 
a professional opinion who is familiar with the parcel based on 
their involvement in adjacent residential development, Trevino.
• Nathan & Associates provided professional opinion
$6.50/sf or $419,049 for the parcel.
• Did not offer a specific opinion on best and highest use for the 
property.
• Noted the property could be advertised regionally/nationally to 
commercial, retail and office to allow open market demand to 
dictate.

Marketing & Sale Strategies
5
• Strategy A – Retain the property while the adjacent 
residential community is developed, then when 
complete proceed with a market analysis to access 
conditions at that time and consider options.
–Maintenance and upkeep will continue 
–Authorize staff to move forward with rezoning the 
property prior to a sale 
–The rezoning process includes public engagement 
and input
–Additional use restrictions can still be included in 
the deed of sale at the direction of Council

Marketing & Sale Strategies
6
• Strategy B – Utilize a broker to market the property 
immediately and solicit unrestricted proposals from 
the open market.
–Use existing Broker “on-call” list
–This strategy would not restrict any proposed uses 
and would result in a list of interested purchasers 
that would be presented to Council for 
consideration
–Zoning actions would take place after Council’s 
initial direction regarding interested purchasers.

Marketing & Sale Strategies
7
• Strategy C – Utilize a broker to market the property 
immediately with agreed upon use restrictions and 
solicit proposals from the open market.
–Considers both economic and community value
–Use restrictions could be determined by Council
–Limits qualified proposals to those that DO NOT 
include restricted uses
–Qualified proposals would be presented to Council 
for consideration
–Zoning process would take place after Council’s 
initial direction regarding interested purchasers.

Current Zoning & Land Use 
8
•Zoning - A-1
–Rezoning requires a public hearing process
•General Plan – Parks & Open Space
–Minor GP Amendment

Summary of Strategies and 
Consensus
9
• Strategy A – Retain the property until the adjacent 
residential community is completed, then proceed 
with a market analysis at that time to access the 
conditions and consider options. 
• Strategy B – Utilize a broker to market the property 
immediately and solicit unrestricted proposals from 
the open market.
• Strategy C – Utilize a broker to market the property 
immediately with agreed upon use restrictions and 
solicit proposals from the open market.

Recommendation 
10
• Staff recommends Strategy A