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To:LRC <br />From:Bonnie Star, Economic Development Director <br />Date:October 14, 2010 <br />RE:Update on Arnold Property Redevelopment <br />Since the SeptemberLRC meeting we have held two meetings with the Arnolds <br />concerning their property at Hwy 42 and South Boulder Road. The first was to inform <br />them of the level of planning necessary for a CDOT access application. The second <br />meeting was with Planning Staff and the Arnold’s architects to go over submission <br />expectations and the city’s planning process. <br />As we have previously stated, the driving force behind the redevelopment is the <br />relocation of Walgreensfrom Village Square ShoppingCenter to this site.In addition, <br />Union Jack desires to build a new, larger store on the site. These two users can help <br />make the cost of development feasible for the family. Other retail users may come forth <br />once an access is approved. Citystaff continue to believe that this will be thefirst <br />portion of the Redevelopment Area to provide property tax increment to the LRC. <br />