Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
P&Z Packet 12.20.18
Iowa City Planning & Zoning Commission Formal Meeting Thursday, December 20, 2018 7:00 PM Emma Harvat Hall – City Hall Department of Neighborhood and Development Services 3/$11,1*$1'=21,1*&200,66,21 'HFHPEHU )RUPDO0HHWLQJ±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¶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¶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¶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¶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±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eno Streetμ0 0.04 0.080.02 MilesPrepared By: Luke FoelschDate Prepared: Nov. 2018An application submitted by the National Trust forHistoric Preservation for the rezoning of approximately24,480 square feet located at 416 Reno Street fromMedium Density Single-Family Residential (RS-8) toMedium Density Single-Family Residential (RS-8) witha Historic District Overlay (OHD). ('$9(1325767)$,5&+,/'67&('$567(%/220,1*721673/($6$1767&(17(5675(12675656565656565656565656565635656565656356565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565635656565656565656565656565656565656565656565656565656565635656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656565656REZ18-00021416 Reno Streetμ0 0.04 0.080.02 MilesPrepared By: Luke FoelschDate Prepared: Nov. 2018An application submitted by the National Trust forHistoric Preservation for the rezoning of approximately24,480 square feet located at 416 Reno Street fromMedium Density Single-Family Residential (RS-8) toMedium Density Single-Family Residential (RS-8) witha Historic District Overlay (OHD). ,RZD&LW\ Historic Preservation Commission &LW\+DOO(:DVKLQJWRQ6WUHHW,RZD&LW\,$ 0HPRUDQGXP 'DWH 'HFHPEHU 7R +LVWRULF3UHVHUYDWLRQ&RPPLVVLRQ )URP -HVVLFD%ULVWRZ+LVWRULF3UHVHUYDWLRQ3ODQQHU 5H 5HQR6WUHHW±$OEHUW-DQG$OLFH(%RUWV+RXVH±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¶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istoric Preservation Commission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±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object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¶VH[WHQVLRQRI:LOOLDP:RRG¶VDGGLWLRQWRWKHRULJLQDO WRZQ7KHORWLVVOLJKWO\HOHYDWHGRQDULVHDERYHWKHVLGHZDONDQG5HQR6WUHHWDULVHWKDWJHQWO\FRQWLQXHVWR VORSHXSZDUGIURPWKHKRXVHWRWKHHQGRIWKHORQJQDUURZSDUFHORQWKHHDVW$QDVSKDOWGULYHZD\FXWVGHHSO\ WKURXJKWKHHDUWKHQEDQNLQIURQWDQGOHDGVWRDJUDYHOHGSDUNLQJDUHDEHKLQGDQGRIIWKHQRUWKVLGHRIWKH KRXVH7KHUHLVQRJDUDJHEXWDPRGHUQRSHQDLUJD]HERVLWVEH\RQGWKHJUDYHODQGDVOLJKWO\VXQNHQFRQFUHWH DQGVWRQHSDWLRLVDGMDFHQWWRWKHKRXVH¶VHDVWUHDUZDOO7ZRODUJHJDUGHQDUHDVDUHIRXQGLQWKHEDFN\DUG2XW IURQWDORQJ5HQR6WUHHWDZLQGURZRIFHQWXU\ROG1RUZD\VSUXFHVKDGHVWKLVZHVWIDFLQJKRXVH$GGLWLRQDO GHFLGXRXVDQGHYHUJUHHQEXVKHVILOOWKHFRUQHUVRIWKHSURSHUW\¶VIURQW\DUGPDNLQJJRRGSKRWRJUDSKLFYLHZV VRPHZKDWGLIILFXOW7RWKHVRXWKDORQJ5HQR6WUHHWDUHQLQHWHHQWKFHQWXU\IUDPHUHVLGHQFHVWRWKHLPPHGLDWH QRUWKDUHWZR&LYLO:DUHUDEULFNKRXVHVDQGEH\RQGWKRVHDVPDOOQHLJKERUKRRGSDUN$FURVVWKHVWUHHWDUH VPDOOHUQLQHWHHQWKFHQWXU\ZRRGIUDPHKRXVHV%RUWV+RXVHZDVEXLOWZLWKWZRW\SHVRIUHGEULFNRQH FRPPRQRQHGHFRUDWLYHDQGDEOXHJUD\OLPHVWRQHVWRQHIRXQGDWLRQ,WVZRRGWULPLVFODVVLFDOLQIRUPDQG IRXQGRQDOOIRXUHOHYDWLRQV7KHEXLOGLQJ¶VKLVWRULFLQWHJULW\LVYHU\JRRG BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 1DUUDWLYH'HVFULSWLRQ'HVFULEHWKHKLVWRULFDQGFXUUHQWSK\VLFDODSSHDUDQFHDQGFRQGLWLRQRIWKHSURSHUW\'HVFULEHFRQWULEXWLQJDQG QRQFRQWULEXWLQJUHVRXUFHVLIDSSOLFDEOH GENERALLY (shared features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façade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¶VWZRVORSHVSOXV LWVEDVH,QWKHSHDNRIWKHDWWLFJDEOHLVDVPDOOHUZLQGRZZLWKDURXQGHGKHDGHURIWKHGDUNHUEULFNV SOUTH SIDE ELEVATION (Figure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¶E\¶EULFNDGGLWLRQSUREDEO\YHQHHUHGRQWKHQRUWKFRUQHU DQGDQRSHQVKHGURRIHGSRUFKVXSSRUWHGE\DWXUQHGXSULJKWSRVWRQRQHHQGDQGWLHGLQWRWKHDGGLWLRQRQWKH RWKHU7KHDGGLWLRQFRQWDLQVDVPDOOEDWKURRPDQGZDVOLNHO\DGGHGZKHQWKHRXWGRRUSULY\ZDVDEDQGRQHG GDWHDQGORFDWLRQXQNQRZQ2QWKHVHFRQGIORRUDERYHWKHSRUFKLVDVPDOOZRRGIUDPHVFUHHQHGVLWWLQJ SRUFKZLWKDVKHGURRIDOVR7KLVVLWWLQJSRUFKRQO\H[WHQGVDFURVVSDUWRIWKHUHDUZDOODQGKDVGLPHQVLRQVRI ¶E\¶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²WKHQRQFRQWULEXWLQJVWUXFWXUHLQWKLV QRPLQDWLRQ²ZDVFRQVWUXFWHGLQ7KHJD]HERLV¶E\¶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¶VFHQWHUD[LV DQGWKHJDEOHSHDNZLQGRZLVLGHQWLFDOWRWKHVRXWKDQG ZHVWVLGHV7KHSURPLQHQWGDUNEULFNEHOWFRXUVHVHHQRQ WKHIDoDGHDQGVRXWKVLGHLVSUHVHQWKHUHDOVRDVLVWKH EHOWFRXUVHWKDWVWUHWFKHVEHWZHHQWKHJDEOH¶VSHGLPHQW UHWXUQV )LJXUH7KHFODVVLFDOO\LQVSLUHGJD]HERZDVFRQVWUXFWHGLQ 0D\ )LJXUH$QRWKHUYLHZRIWKHHDVWUHDUZDOOZLWKWKHRSHQ DLUPRGHUQJD]HERDWWKHULJKWHGJHLQWKHSKRWRJUDSK0D\ )LJXUH7KHQRUWKVLGHORRNLQJVRXWK1RWHWKHJURXQGOHYHOGRXEOH ZLQGRZLVDUHGXFHGUHSODFHPHQW6HH)LJXUHIRUDGHWDLOYLHZRIWKH MXQFWXUHRIWKHKRXVHDQGWKHVPDOODGGLWLRQ0D\ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQSDJH )LJXUH7KHQRUWKHDVWFRUQHURIWKHKRXVHLVVHHQKHUHZLWKWKHVPDOOHDVWVLGHEULFN DGGLWLRQWRWKHOHIW7KHGDUNYHUWLFDOWKDWVHSDUDWHVWKHDGGLWLRQIURPWKHKRXVHLVDWDUOLNH VHDODQW7KHIRXQGDWLRQDSSHDUVWREHDGLIIHUHQWVWRQHRUPDVRQU\W\SHWKDQWKHERG\RIWKH KRXVH7KHEULFNVKDYHDVPRRWKHUPRUHILQLVKHGVXUIDFHRYHUWKHHDUOLHUUHGFOD\EULFNVRI WKHPDLQKRXVH7KHODWWHUEULFNVVKRZSUHVVPDUNV7KLVVPDOODGGLWLRQFKRXVHVDQ LQWHULRUEDWKURRPDQGKDVRQO\DFUDZOVSDFHXQGHUQHDWK0D\ LANDSCAPE (backyard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³*RRVHWRZQ´DQHQFODYHRI %RKHPLDQLPPLJUDQWVDQG%RKHPLDQ$PHULFDQVZLWKVHWWOHPHQWVWKDWH[WHQGIURPQRUWKHUQ,RZD&LW\QRUWK WKURXJKVPDOOWRZQVOLNH6RORQDQG(O\WRWKHVRXWKHUQDUHDRI&HGDU5DSLGVVRPHPLOHVWRWKHQRUWK,Q DJURXSRIORFDO,RZD&LW\FLWL]HQVZRUNHGZLWKWKHVWDWH¶V'HSDUWPHQWRI1DWXUDO5HVRXUFHVWR GRFXPHQWWKHKHULWDJHWUHHVLQ*RRVHWRZQ7KHIROORZLQJLVWKHGHVFULSWLRQZULWWHQIRUDZDONLQJWRXU SDPSKOHWLVVXHGDVDSDUWRIWKHSURMHFW 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQSDJH )LJXUH)URP³$7UHH:DONLQ*RRVHWRZQ´DYDLODEOHRQOLQHIURPWKH,RZD&LW\3XEOLF/LEUDU\ +HULWDJHWUHHVDORQJ5HQR6WUHHWLQFOXGLQJWKRVHIRXQGLQWKHIURQW\DUGRIWKH%RUWV+RXVHDW5HQR,WHP DUHGHVFULEHGDVIROORZV7KH1RUZD\VSUXFHZLQGEUHDNURZLVH[WDQWDQGLPSUHVVLYHLQLWVKHLJKWDQG JLUWK7KHVSLQGOHWUHHVZHUHQRWREVHUYHGLQ0D\ 'HVSLWHWKH*RRVHWRZQORFDWLRQWKHIDPLOLHVWKDWILJXUHSURPLQHQWO\LQWKH%RUWV+RXVH¶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¶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¶VUHVLGHQWLDOIXQFWLRQGLUHFWO\UHODWHVWRLWVDUFKLWHFWXUDOVLJQLILFDQFH 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQSDJH 6WDWHPHQWRI6LJQLILFDQFH $SSOLFDEOH1DWLRQDO5HJLVWHU&ULWHULD 0DUN[LQRQHRUPRUHER[HVIRUWKHFULWHULDTXDOLI\LQJWKHSURSHUW\IRU 1DWLRQDO5HJLVWHUOLVWLQJ $Property is associated with events that have made a significant contribution to the broad patterns of our history. %Property is associated with the lives of persons significant in our past. [&3URSHUW\HPERGLHVWKHGLVWLQFWLYHFKDUDFWHULVWLFV RIDW\SHSHULRGRUPHWKRGRIFRQVWUXFWLRQRUUHSUHVHQWV WKHZRUNRIDPDVWHURUSRVVHVVHVKLJKDUWLVWLFYDOXHV RUUHSUHVHQWVDVLJQLILFDQWDQGGLVWLQJXLVKDEOHHQWLW\ ZKRVHFRPSRQHQWVODFNLQGLYLGXDOGLVWLQFWLRQ '3URSHUW\KDV\LHOGHGRULVOLNHO\WR\LHOGLQIRUPDWLRQ LPSRUWDQWLQSUHKLVWRU\RUKLVWRU\ &ULWHULD&RQVLGHUDWLRQV 0DUN[LQDOOWKHER[HVWKDWDSSO\ Property is: $ 2ZQHGE\DUHOLJLRXVLQVWLWXWLRQRUXVHGIRUUHOLJLRXV SXUSRVHV % UHPRYHGIURPLWVRULJLQDOORFDWLRQ & DELUWKSODFHRUJUDYH ' DFHPHWHU\ ( DUHFRQVWUXFWHGEXLOGLQJREMHFWRUVWUXFWXUH ) DFRPPHPRUDWLYHSURSHUW\ * OHVVWKDQ\HDUVROGRUDFKLHYLQJVLJQLILFDQFH ZLWKLQWKHSDVW\HDUV $UHDVRI6LJQLILFDQFH (QWHUFDWHJRULHVIURPLQVWUXFWLRQV $5&+,7(&785( 3HULRGRI6LJQLILFDQFH 6LJQLILFDQW'DWHV 6LJQLILFDQW3HUVRQ &RPSOHWHRQO\LI&ULWHULRQ%LVPDUNHGDERYH &XOWXUDO$IILOLDWLRQLIDSSOLFDEOH $UFKLWHFW%XLOGHU %RUWV'DYLG/ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±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¶VIDWKHUDQGDQRWHGQLQHWHHQWKFHQWXU\EXLOGHULQ,RZD&LW\$VNLOOHGPDVRQDQGFRQWUDFWRUZKR FRPSOHWHGKLVEXLOGLQJVODUJHO\LQUHGEULFNDQGOLPHVWRQHKLVPDQ\SURMHFWVLQFOXGHGUHVLGHQFHVDWOHDVWRQH FKXUFKDQGQXPHURXVODUJHXQLYHUVLW\EXLOGLQJVRQWKHFDPSXVRIWKH6WDWH8QLYHUVLW\RI,RZDQRZ8QLYHUVLW\ RI,RZD8QIRUWXQDWHO\WKHERG\RIWKLVEXLOGHU¶VZRUNLQ,RZD&LW\KDVGLPLQLVKHGRYHUWKH\HDUVDVKLV ODUJHUPDVRQU\EXLOGLQJVKDYHEHHQGHPROLVKHG&DPSXVEXLOGLQJVLQSDUWLFXODUZHUHUHSODFHGLQWKHWZHQWLHWK FHQWXU\E\OLJKWJUD\%HDX[$UWVEXLOGLQJVDVWKHXQLYHUVLW\¶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³PXVFXODU*RWKLFLQSDUWLFXODUDQGWKHLGHDWKDWHYHU\WKLQJVKRXOGEH*RWKLFLQ JHQHUDO´7KHVH\RXQJHU(QJOLVKDUFKLWHFWV3KLOLS:HEEDQG5LFKDUG1RUPDQ6KDZSHUKDSVEHVWNQRZQ DPRQJWKHPWUDYHOHGLQDZLGHUFLUFOHRIGHVLJQHUVOLNH:LOOLDP0RUULVDQG3UH5DSKDHOLWHDUWLVWVOLNH'DQWH *DEULHO5RVVHWWL7KH\RXQJDUFKLWHFWVORRNHGDWWKHLURZQ(QJOLVKYHUQDFXODUDUFKLWHFWXUHWKHFRWWDJHVRIWKH FRXQWU\VLGHDQGWKHROGHUQHLJKERUKRRGVRI/RQGRQDQGEHJDQWRUHYLYHWKH³WLOHKDQJLQJZHDWKHUERDUGLQJ DQGKDOIWLPEHULQJ´HOHPHQWVRI³KRPHOLHUEULFNDUFKLWHFWXUHRIWKHVHYHQWHHQWKDQGHLJKWHHQWKFHQWXULHV´ $IWHU\HDUVRI³VFRXULQJWKH&RQWLQHQWZLWKWKHLUVNHWFKERRNV>VWXG\LQJ&ODVVLFDODQG5HQDLVVDQFHEXLOGLQJV@ WKH\UHDOL]HGWKHUHZDVDZKROHIRUJRWWHQZRUOGDWWKHLUGRRUVWHSVZDLWLQJWREHUHGLVFRYHUHG´ 7KHUHLVQRWKRURXJKLQYHQWRU\RI'DYLG%RUWV¶ZRUN(GQD$OLFH%RUWVLGHQWLILHGKHUJUDQGIDWKHUDVWKHEXLOGHURIKHUIDPLO\KRPH0V %RUWVZDV$OEHUWDQG$OLFH¶VGDXJKWHUERUQLQDQGQHDUO\ZKHQVKHGLHGLQ,QEHWZHHQVKHKDGDORQJSURIHVVLRQDO FDUHHUDVDQXUVH(GQD$OLFH%RUWVWR.DWHDQG&DUO.ODXVF³2ELWXDU\RI(GQD%RUWV´DFFHVVHGDW KWWSVJD\DQGFLKDFRPWULEXWHGHWDLOV(GQD%RUWVRELWXDU\KWPORQ 0DUN*LURXDUG6ZHHWQHVVDQG/LJKW7KHµ4XHHQ$QQH¶0RYHPHQW2[IRUG8.&ODUHQGRQ3UHVVUHSULQWHG<DOH 8QLYHUVLW\3UHVV5HSULQWXVHG ,ELG ,ELG 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH $FFRUGLQJWRRQH%ULWLVKDUFKLWHFWXUDOKLVWRULDQ³WKHHDUO\DQGPLG VHYHQWHHQWKFHQWXU\KDGVXSSOLHG>WKHVHDUFKLWHFWV@ZLWKJDEOHV ZKHWKHUVWUDLJKWRU)OHPLVKEULFNSLODVWHUVEULFNSHGLPHQWVULEEHG FKLPQH\VWDFNVDQGSURPLQHQWSODVWHUFRYHUVIURPWKHODWH VHYHQWHHQWKDQGHLJKWHHQWKFHQWXULHVFDPHVDVKZLQGRZVDQG ZURXJKWLURQUDLOLQJVWKHDUFKLWHFWVKDGPL[HGWKHPDOOWRJHWKHU PDGHWKHURRIVDQGFKLPQH\VWDFNVHVSHFLDOO\SURPLQHQWEHHQ DV\PPHWULFZKHQWKH\IHOWOLNHLWSDLUHGRUHORQJDWHGWKHLUVDVK ZLQGRZVDQGWKURZQLQWKHRFFDVLRQDOVXQIORZHUWRDGGDQDHVWKHWLF IODYRULQJ´'HFRUDWLYH²VRPHZRXOGVD\EXV\²EULFNZRUNZDV FRPPRQLQFOXGLQJ ZDOOVWKDWDOWHUQDWHG FRXUVHVRIGDUNEULFNV DQGOLJKWVWRQHWR DFKLHYHKRUL]RQWDO VWULSHV)LJ %\WKHPLGVWKHSXEOLFKDGDGRSWHG5LFKDUG1RUPDQ6KDZ¶V XVHRIWKHWHUP³4XHHQ$QQH´IRUWKHH[XEHUDQWRIILFHEXLOGLQJV FRXQWU\KRPHVFKXUFKHVDQG/RQGRQWHUUDFHKRXVHVGHVLJQHGE\ WKLVJURXSRIDUFKLWHFWV2QHHVSHFLDOO\LQIOXHQWLDOWHUUDFHKRXVH GHVLJQHGE\--6WHYHQVRQH[HPSOLILHVWKHHFOHFWLFDQGZLOGO\ RUQDWHFUHDWLRQVWKDWFDPHWREHFDOOHG4XHHQ$QQHLQ(QJODQG )LJ6SHFXODWLYH%ULWLVKEXLOGHUVVRRQDGDSWHGWKHVW\OHWR XUEDQWRZQKRXVHVDQGWKHVW\OHEHFDPHSRSXODUDQGQHDUO\ XELTXLWRXVLQVRPHGHYHORSLQJQHLJKERUKRRGVDQGJDUGHQVXEXUEV )LJ ,ELG 6 6KDZ¶VWHUPLQRORJ\VXSSRVHGO\UHIHUHQFHGWKH5HQDLVVDQFHVW\OHRIDUFKLWHFWXUHSRSXODUGXULQJWKH(QJOLVK4XHHQ$QQH¶VUHLJQ +RZHYHUWKLVLVDPLVQRPHUVLQFHWKHQLQHWHHQWKFHQWXU\VW\OHDVLWHPHUJHGLVFORVHUWRWKHPHGLHYDOIRUPVRI\HDUV HDUOLHUGXULQJWKH(OL]DEHWKDQDQG-DFREHDQHUDV8QLYHUVLW\RIWKH:HVWRI(QJODQG³'RPHVWLF$UFKLWHFWXUH´DFFHVVHGDW IHWXZHDFXNRQDOVR3HQQV\OYDQLD+LVWRULFDO 0XVHXP&RPPLVVLRQDFFHVVHGDWZZZSKPFVWDWHSDXVRQ )LJXUH5HG+RXVH/RQGRQE\--6WHYHQVRQ &UHGLW*LURXDUG3ODWHSDJH )LJXUH2OG6FRWODQG<DUG:HVWPLQVWHU /RQGRQ8.E\5LFKDUG1RUPDQ6KDZ &UHGLW3LQWHUHVWRQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH :KDWSURPSWHGWKH4XHHQ$QQH¶VVSUHDGWR WKH8QLWHG6WDWHVLVRSHQIRUGLVFXVVLRQ $UFKLWHFWXUDOKLVWRULDQVJHQHUDOO\FUHGLW ++5LFKDUGVRQ¶V:DWWV6KHUPDQKRXVHLQ1HZSRUW5KRGH,VODQGDVWKHYHU\ILUVW$PHULFDQ4XHHQ $QQHH[DPSOHEXW*UHDW%ULWDLQ¶V4XHHQ$QQHH[KLELWLRQEXLOGLQJVFRQVWUXFWHGIRUWKH3KLODGHOSKLD ([SRVLWLRQOLNHO\FDXVHGLWWRVSUHDGEH\RQGWKH1HZSRUWVXPPHU³FRWWDJHV´RI5LFKDUGVRQ¶VZHDOWK\FOLHQWV 3DWWHUQERRNVDQGWKHFRXQWU\¶VILUVWDUFKLWHFWXUDOPDJD]LQH7KH$PHULFDQ$UFKLWHFWDQG%XLOGLQJ1HZVIXUWKHU SRSXODUL]HGLWDQGPDGHWKHVW\OHDFFHVVLEOHWREXLOGHUVDQGDUFKLWHFWXUDOSODQSXEOLVKHUVOLNH*HRUJH)%DUEHU 6RFLDOKLVWRULDQVDUJXHWKDWWKH4XHHQ$QQHIRUPDFFRPPRGDWHGDJURZLQJPLGGOHFODVVDQGWKHGHYHORSLQJ FXOWXUHRIFRQVXPSWLRQRIWKHODVWWKLUGRIWKHQLQHWHHQWKFHQWXU\7KH4XHHQ$QQHKRPHWKH\WKHRUL]HG UHSUHVHQWHGDQ³DUWLVWLF´H[SUHVVLRQRIGRPHVWLFOLIHDFFHSWDEOHDQGHQFRXUDJHGDVSDUWRIWKHQHZFRQFHSWRID ³ZRPHQ¶VVSKHUH´ 7KHVW\OHUHPDLQHGSRSXODULQWKLVFRXQWU\WKURXJKRXWWKHVLQWRWKHILUVWGHFDGHRIWKHWZHQWLHWKFHQWXU\,W ZDVWKH³GRPLQDQWVW\OHRIGRPHVWLFEXLOGLQJ´QDWLRQZLGHXQWLOWKHUHDIWHUGZLQGOLQJLQQHZFRQVWUXFWLRQ VWDUWVDVVLPSOHUOLQHVDQGOHVVGHFRUDWLRQEHFDPHSRSXODU([HFXWHGSULPDULO\LQZRRGIUDPHH[FHSWLQWKH XUEDQ1RUWKHDVWZKHUH1RUPDQ6KDZ¶VSUHIHUHQFHIRUPDVRQU\UHPDLQHGVWURQJ4XHHQ$QQHKRXVHVPD\EH FDWHJRUL]HGLQWRIRXUSULQFLSDOVXEW\SHVRIIRUPDQGIRXUSULQFLSDOVXEW\SHVRIGHFRUDWLRQ%\IUHTXHQF\RI IRUPRYHUKDOIWKH4XHHQ$QQHKRXVHVLQFOXGLQJ%RUWV+RXVHKDYHDVWHHSKLSSHGURRIZLWKFURVVJDEOHV 7KLVURRIIRUPLV³DPRQJWKHPRVWGLVWLQFWLYH4XHHQ$QQHFKDUDFWHULVWLFVDQGRFFXUVLQH[DPSOHVUDQJLQJIURP PRGHVWFRWWDJHVWRKLJKVW\OHODQGPDUNV´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¶V)LHOG*XLGHWR$PHULFDQ+RXVHVDW ,ELG )LJXUH&LUFDVHPLGHWDFKHGEXLOGHU WRZQKRXVHV1RWHWKHFRQWUDVWLQJPDVRQU\WDOO ZLQGRZED\VDQGPXOWLSDQHVDVKZLQGRZV &UHGLW8QLYHUVLW\RIWKH:HVWRI(QJODQGRQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH ZLWKRXWWKHKLSSHGFHQWUDOURRIDQGVLPSOHIURQWIDFLQJJDEOHVHDFKWKHUHPDLQLQJZHUHDWWDFKHG WRZQKRXVHVRUURZKRXVHV 'HFRUDWLYHGHWDLOLQJVXEW\SHVIDOOLQWRERWKTXDQWLWDWLYHDQGFKURQRORJLFDORUGHUVZLWKWKHOHDGHULQERWKEHLQJ WKH³VSLQGOHZRUN´VXEW\SHRIWKHV$ERXWRI4XHHQ$QQHVIDOOLQWRWKLVFDWHJRU\(DUOLHUDQGUDUHUDUH WKH³KDOIWLPEHUHG´DQG³SDWWHUQHGPDVRQU\´VXEW\SHVRIWKHVDERXWHDFKIROORZHGODVWO\LQWLPHE\ WKH³IUHHFODVVLF´VXEW\SHRIWKHVZLWKDERXW7KHKDOIWLPEHUHGDQGSDWWHUQHGPDVRQU\$PHULFDQ VXEW\SHVDVWKHHDUOLHVWDQGUDUHVWDUH³PRVWFORVHO\UHODWHGWRWK>H@ZRUNRI6KDZDQGKLVFROOHDJXHVLQ (QJODQG´7KH%RUWV+RXVHLQ,RZD&LW\H[KLELWVGHWDLOVRIERWKWKHIUHHFODVVLFDQGSDWWHUQHGPDVRQU\ VXEW\SHV7KHIUHHFODVVLFGHWDLOVPD\VLPSO\EHDIXQFWLRQRILWVODWHUFRQVWUXFWLRQSHULRGKRZHYHUWKH SDWWHUQHGPDVRQU\GHWDLOV±WKHEDQGVRIUXVWLFDWHGGDUNUHGEULFNWKDWFRQWUDVWZLWKWKHSDOHUHGEULFNZDOOVDQG WKHXQXVXDOEOXHJUD\VWRQHIRXQGDWLRQ±PD\ZHOOUHIOHFWWKH%RUWVIDPLO\EDFNJURXQGDVPDVRQU\ SURIHVVLRQDOV:KLOH$OEHUW%RUWVVSHQWKLVORQJFDUHHUDVDPDLOFDUULHULQKLV\RXQJDGXOW\HDUV$OEHUWZRUNHG IRUKLVIDWKHU'DYLG%RUWVWKHVXFFHVVIXOEXLOGLQJFRQWUDFWRUNQRZQIRUKLVPDQ\ODUJHEULFNXQLYHUVLW\DQG FRPPHUFLDOEXLOGLQJVLQWRZQ QUEEN ANNE HOUSES IN IOWA CITY ,I%RUWV+RXVHLVFKDUDFWHUL]HGDVDKLSSHGURRIVXEW\SHZLWKIUHHFODVVLFDQGSDWWHUQHGPDVRQU\GHWDLOVZKHUH GRHVLWILWZLWKLQWKHORFDOFRQWH[WRIWKHSRSXODU4XHHQ$QQHVW\OHLQ,RZD&LW\"7KHWRZQ¶VSRSXODWLRQJUHZ E\DKHDOWK\GXULQJWKHVWKHGHFDGHLQZKLFK%RUWV+RXVHZDVFRQVWUXFWHG,RZD&LW\VDZHYHQ PRUHUREXVWJURZWKRIEHWZHHQDQG,QRWKHUZRUGV%RUWV+RXVHZDVFRQVWUXFWHGGXULQJD SHULRGRIVLJQLILFDQWWRZQJURZWK7KLVJURZWKFRUUHVSRQGVGLUHFWO\WRWKH\HDUV4XHHQ$QQHUHVLGHQFHVZHUH PRVWSRSXODUQDWLRQZLGH7KHUHIRUHDODUJHQXPEHURI,RZD&LW\¶V4XHHQ$QQHKRXVHVZHUHPRVWOLNHO\EXLOW LQWRZQEHWZHHQDQG :KLOHQRVWXG\H[LVWVRIDOO,RZD&LW\4XHHQ$QQHUHVLGHQFHVWKHUHDUHVHYHUDOVRXUFHVWKDWPD\JLYHDOHVV VSHFXODWLYHPRUHTXDQWLWDWLYHDQVZHUWRWKHTXHVWLRQRIKRZ%RUWV+RXVHILWVWKHORFDOFRQWH[W7KHVHGDWD VRXUFHVDUHIDUIURPSHUIHFWEXWFDQVXJJHVWWKHRYHUDOOWUHQGDQGWKHVWUHQJWKRIWKH4XHHQ$QQH¶VSUHVHQFHLQ WKLVWRZQ7KHHDUOLHVWUHVRXUFH(GZLQ&KDUOHV(OOLV¶V0$WKHVLVIURPWLWOHG³&HUWDLQ6W\OLVWLF7UHQGVLQ $UFKLWHFWXUHLQ,RZD&LW\´RIIHUVVRPHJRRGFOHDUEODFNDQGZKLWHSKRWRJUDSKVRIORFDOKRXVHVPDQ\ QRQH[WDQWEXWLVRUJDQL]HGLQDKDSKD]DUGZD\DQGODUJHO\VLPSO\GHVFULEHVIHDWXUHVZLWKRXWPXFKDQDO\VLV $OVRPDQ\RIWKHSKRWRVVKRZKRXVHVWRRGLVWDQWIURPWKHFDPHUDWREHRIXVHRUMXVWFDSWXUHDUFKLWHFWXUDO GHWDLOVLQVWHDGRIWKHHQWLUHEXLOGLQJ7KLVOHDYHVWKH(OOLVWKHVLVRIPLQLPDOYDOXHIRUWKHSXUSRVHRIDQDO\]LQJ ORFDO4XHHQ$QQHEXLOGLQJV0DUJDUHW.H\HV¶ERRN1LQHWHHQWK&HQWXU\+RPH$UFKLWHFWXUHRI,RZD&LW\ FRQWDLQVRYHULPDJHVRIORFDOKRXVHVDKDQGIXORIZKLFKDUH4XHHQ$QQHDOWKRXJKWKHDXWKRUXVHVDQ DOWHUQDWLYHQDPHIRUWKHVW\OH1HR-DFREHDQ/DXUHQFH/DIRUH¶VERRNRQ,RZD&LW\DUFKLWHFWXUH $PHULFDQ&ODVVLFLVQRWOLPLWHGWRGRPHVWLFDUFKLWHFWXUHDQGFRQWDLQVVWUHHWVFDSHYLHZVDVZHOODVVLQJOH ,ELG ,ELG ,RZD'DWD&HQWHU86'HFHQQLDO&HQVXV5HWULHYHGRQWKURXJKOLQNVDWKWWSVHQZLNLSHGLDRUJZLNL,RZDB&LW\FLWHBQRWH 'HFHQQLDO&HQVXV 8QLYHUVLW\RI,RZD3UHVVUHLVVXHGDQGH[SDQGHG%RWKHGLWLRQVXVHG'U.H\HV¶RULJLQDOUHVHDUFKIRUWKLVERRNL VDWWKH 6WDWH+LVWRULFDO6RFLHW\RI,RZD±,RZD&LW\ ,RZD6WDWH+LVWRULFDO'HSDUWPHQW'LYLVLRQRIWKH6WDWH+LVWRULFDO6RFLHW\>RI,RZD@ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH EXLOGLQJ³SRUWUDLWV´.H\HVDQG/DIRUH¶VSXEOLFDWLRQVDGGVHYHUDOZRRGIUDPHDQGEULFNH[DPSOHVWRDPXFK ODUJHUGDWDEDVHNHSWE\WKH,RZD6WDWH+LVWRULF3UHVHUYDWLRQ2IILFH THE NUMBERS 7KHVWDWH¶VGDWDEDVHFRQWDLQV,RZD&LW\EXLOGLQJVRIZKLFKDUHFODVVLILHGDV4XHHQ$QQHDQGGDWH EHWZHHQDQG2IWKHVHIDOOEHWZHHQDQG$GGUHVVHVRIWKHVHEXLOGLQJVZHUH FKHFNHGDJDLQVWWKHFLW\DVVHVVRU¶VRQOLQHSKRWRVDQGFRQVWUXFWLRQGDWHV7KHUHZHUHYHULILHG4XHHQ$QQHV 7KHUHVWZHUHLQFDSDEOHRIYHULILFDWLRQEHFDXVHWKH\ZHUHHLWKHUQRQH[WDQWLQFRUUHFWO\LGHQWLILHGDV4XHHQ $QQHVRUKDGLQFRPSOHWHDGGUHVVHV2IWKHRQO\ZHUHEULFNWKHRWKHUKRXVHV±RU±ZHUHZRRG IUDPHEXLOGLQJV7KH.H\HVDQG/DIRUHVWXGLHVDGGHGPRUHIUDPHKRXVHVDQGDGGLWLRQDOEULFNKRXVHWRWKH VWDWH¶VJURXS&RPELQHGWKHVHWKUHHVRXUFHVWRWDO4XHHQ$QQHUHVLGHQFHVUHFRUGHGLQWRZQZLWKRQO\RU EULFNDQGZRRGIUDPH7KLVQRPLQDWLRQ¶VDXWKRUOLYHVLQ,RZD&LW\DQGNQRZVLWVDUFKLWHFWXUHZHOO 7KHUHDUHDFWXDOO\PDQ\PRUHYHUQDFXODU4XHHQ$QQHKRXVHVLQWRZQKRZHYHUWKHFRQFOXVLRQGUDZQIURPWKH DYDLODEOHVDPSOLQJ²WKDWWKHYDVWPDMRULW\DUHRIZRRGIUDPHFRQVWUXFWLRQ²GRHVDSSHDUFRUUHFW7KH%RUWV +RXVHWKHQLVD4XHHQ$QQHVW\OHGKRXVHZLWKWKHPRVWFRPPRQIRUPEXWWKHOHDVWFRPPRQFRQVWUXFWLRQ PDWHULDODQGGHFRUDWLRQERWKQDWLRQZLGHDQGORFDOO\ THE COMPARABLES: THE OTHER BRICK QUEEN ANNES 7KHHDUOLHVWRI,RZD&LW\¶VEULFN4XHHQ$QQHVLVIRXQG RQWKHQRUWKVLGHRIWRZQDW19DQ%XUHQ6W +LVWRULFDOO\NQRZQDVWKH9RJW+RXVHDQGLQIRUPDOO\DV WKH.XUW9RQQHJXWKRXVHIRULWVIDPRXVUHQWHUZKRWDXJKW DWWKHXQLYHUVLW\¶VZULWHUVZRUNVKRSWKHKRXVH)LJ ZDVOLVWHGLQWKH1DWLRQDO5HJLVWHULQ%XLOWLQ RUGHSHQGLQJRQWKHVRXUFHWKHEULFNDQGVWRQH KRXVHLVDQDPDOJDPRIJDEOHVURRIOHWVDQGGRUPHUV ZLWKDQRYHUDOOKLSSHGURRI$IDQFLIXOSRUFKZUDSV DFURVVWKHIDo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±SDJH 6HFRQGLQFRQVWUXFWLRQDWLVWKHFURVVJDEOH EULFNDQGVWRQHKRXVHDW1'RGJH)LJDOVR LQWKHQRUWKHUQSDUWRIWKHFLW\7KLVKRXVHODFNVD KLSSHGURRIEXWGRHVLQFOXGHDQXQXVXDOJDPEUHOURRI ZLWKDKLJKEUHDNSRLQW,WVGHFRUDWLYHGHWDLOVLQFOXGH ERWKDSSOLHGWULPIURPWKHVSLQGOHZRUNVXEVW\OHDQG IUHHFODVVLFGHWDLOVDVVHHQLQWKHRFXOXVJDEOHZLQGRZ WKHURXQGDUFKHGZLQGRZVZLWKWKHLUSURPLQHQW NH\VWRQHVDQGWKHSRUWLFRVDQGVPRRWKFROXPQVRIWKH GRXEOHVLGHGIURQWSRUFK7KLVEXLOGLQJZDVHYDOXDWHG LQDVDSDUWRIDURDGLPSURYHPHQWSURMHFWDQG GHWHUPLQHGHOLJLEOHIRUWKH1DWLRQDO5HJLVWHUXQGHU &ULWHULRQ& $OVRFRQVWUXFWHGLQWKHEULFN4XHHQ$QQHDW 6&OLQWRQ)LJVMXVWVRXWKRIGRZQWRZQ KDVORQJEHHQ]RQHGIRUDSDUWPHQWVDQGLVLQWKH PLGGOHRIDUHVLGHQWLDOQHLJKERUKRRGXQGHUWUDQVLWLRQ5HGHYHORSPHQWLQWKHIRUPRIKLJKULVHDSDUWPHQWVLV WDNLQJSODFHXQFRPIRUWDEO\QHDUWKLVFRUQHUEXLOGLQJ7KLVKRXVHKDVWKHIDPLOLDUKLSSHGURRIDQGFURVVJDEOHV DQGRUQDWHEULFNDQGVWRQHZRUN 7KHIRXUWKEULFN4XHHQ$QQH)LJVLWVLQWKH6XPPLW6WUHHW+LVWRULF'LVWULFWLQWKHKLVWRULFHDVWFHQWUDOSDUW RIWKHFLW\,WDOVRKDVWZRFRQVWUXFWLRQGDWHVDFFRUGLQJWRWKHORFDODVVHVVRUDQGDFFRUGLQJWRWKH VWDWH¶VDUFKLWHFWXUDOGDWDEDVH7KHEXLOGLQJ¶VFOHDQHUOLQHVDQGODFNRIGHFRUDWLRQVXJJHVWWKLVKRXVHZDVEXLOW 5HEHFFD&RQDUG³,RZD&LW\1RUWK'RGJH6WUHHW,QWHQVLYH/HYHO+LVWRULFDODQG$UFKLWHFWXUDO6XUYH\DQG(YDOXDWLRQ´,RZD&LW\ 7DOOJUDVV+LVWRULDQV/& )LJXUH6&OLQWRQDVLWZDVLQOHIWDQGWRGD\ULJKW&KDQJHVLQFOXGHUHPRYDORIWKHSRUFKDODUJHQHZ QRUWKVLGHGRUPHUQRWYLVLEOHKHUHDQGDWWLFZLQGRZVWKDWKDYHEHHQUHSODFHG3KRWRVRXUFHVOHIW.H\HVULJKW*RRJOH RQ )LJXUH%XLOWWKHVDPH\HDUDVDQHDUE\FKXUFKLQ3KRWR IURPWKH,RZD&LW\$VVHVVRU 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH IROORZLQJDQGQRWEHIRUHWKH&KLFDJR:RUOG¶V)DLUDQLPSRUWDQWHYHQWWKDWKHOSHGSRSXODUL]HWKH&RORQLDO 5HYLYDOVW\OHIRUGRPHVWLFDUFKLWHFWXUHDQGDFFHOHUDWHWKHGHFOLQHRIWKHIXVVLHU4XHHQ$QQHLQWKH0LGZHVWDQG EH\RQG7KHEXLOGLQJKDVDKLSSHGURRIDQGFURVVJDEOHVZLWKDQRWKHUIURQWIDFLQJJDEOHSURMHFWLQJIURPWKH IDoDGH7KHWZRVWRU\ZLQGRZED\WHOHVFRSLQJIURPWKHQRUWKVLGHJDEOHLVDKROGRYHUIURPHDUOLHU4XHHQ$QQH \HDUVZKLOHWKHSHQWURRIVRIWKHJDEOHSHDNVDQGWKHVTXDUHGFROXPQVDQGVLPSOHEDOXVWHUVRIWKHIURQWSRUFK UHIOHFWWKHJURZLQJGHVLUHIRUDVLPSOLILHGDHVWKHWLF )LJXUH66XPPLWZDVOLVWHGLQWKH6XPPLW6WUHHW+LVWRULF'LVWULFW 15+3DVFRQWULEXWLQJIRULWVDUFKLWHFWXUH3KRWR,RZD&LW\ $VVHVVRU 7KHILIWKEULFN4XHHQ$QQHDW(:DVKLQJWRQ)LJDFRXSOHEORFNVQRUWKRIWKH6XPPLW6WUHHW +LVWRULF'LVWULFWKDVDVLPLODUSURILOHDQGIRRWSULQWDVWKH6XPPLW6WUHHWKRXVHDKLSSHGURRIZLWKIURQWDQG ZHVWJDEOHVDQGLWWRRVKRZVWKHVLPSOLILHGIUHHFODVVLFGHWDLOVVHHQLQWKHVTXDUHGSRUFKFROXPQV,WVJDEOH SHDNVDUHIUDPHDOVREXWWKH\ODFNSHQWURRIV$GGLWLRQDOO\LWKDVRQO\DZHVWVLGHSURMHFWLQJED\ZLWKWKH HDVWVLGHGLVWLQJXLVKHGRQO\E\DODUJHKLSSHGURRIGRUPHU7KHDVVHVVRU¶VGDWHRIDSSHDUVPRUHDFFXUDWH WKDQWKHVWDWH¶VGDWDEDVHGDWHRIWKRXJKHLWKHUFRXOG EHFRUUHFW7KHKRXVHLVDUHQWDOFRQYHUVLRQDQGKDVVRPH H[WHULRUDOWHUDWLRQV7KHDWWLFZLQGRZVDUHQHZHUDQGWKH JDEOHVDSSHDUWREHFODGLQDUHSODFHPHQWVLGLQJ,WKDV EHHQHYDOXDWHGDVQRWHOLJLEOHIRUWKH1DWLRQDO5HJLVWHU 7KHILQDOEULFN4XHHQ$QQH)LJVLVORFDWHGDW1*LOEHUWLQWKHQHDUQRUWKVLGHRIWKHFLW\LQD QHLJKERUKRRGWKDWERDVWVVRPHRIWKHFLW\¶VROGHVWEXLOGLQJVDVZHOODVQHZHUDSDUWPHQWEXLOGLQJVDQG FRPPHUFLDOEXLOGLQJVIURPWKHHDUO\WRPLGWKFHQWXU\%XLOWLQQRWWKHDVVHVVRU¶VREYLRXVO\LQFRUUHFW )LJXUH(:DVKLQJWRQLVZLWKLQDQHLJKERUKRRG WKDWSURYLGHVPDQ\UHQWDODSDUWPHQWVIRUXQLYHUVLW\ VWXGHQWV6RXUFH*RRJOHRQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH GDWHRIWKLV4XHHQ$QQHKDVEHHQHYDOXDWHGDQGLVOLVWHGLQWKHVWDWH¶VGDWDEDVHDVHOLJLEOHIRUWKH 1DWLRQDO5HJLVWHUXQGHU&ULWHULRQ&IRULWVDUFKLWHFWXUDOVLJQLILFDQFH %RUWV+RXVH¶VIRRWSULQWURRIIRUPIHQHVWUDWLRQDUUDQJHPHQWDQGGHFRUDWLYHGHWDLOLQJPRVWFORVHO\UHVHPEOHV WKHILIWK4XHHQ$QQHDERYHLQ)LJXUHV+RZHYHUWKHGHWDLOVRIWKHGHFRUDWLRQVDUHGLIIHUHQW:KLOH 1*LOEHUW¶VFODVVLFDOHOHPHQWVDUHVWURQJHU%RUWV+RXVHKDVWKHDGGLWLRQDOGHFRUDWLYHPDVRQU\LQFOXGLQJWKH UXVWLFDWHGGDUNUHGKRUL]RQWDOEDQGVDQGLWVXQXVXDOIRXQGDWLRQOLPHVWRQH 7KH%RUWV+RXVHOLPHVWRQHLVEOXLVKJUD\DQGPD\KDYHEHHQVHOHFWHGIRULWVFRORUUDWKHUWKDQLWVZHDWKHULQJ FDSDELOLW\ZKLFKLVSRRU7KHFRPPRQIRXQGDWLRQVWRQHVHHQLQ,RZD&LW\¶VQLQHWHHQWKFHQWXU\KRPHVLVD SDOH\HOORZOLPHVWRQHWDNHQIURPGLIIHUHQWVWUDWDOD\HURIORFDOTXDUULHV5\DQ-&ODUNDJHRORJLVWIURPWKH ,RZD*HRORJLFDO6XUYH\KRXVHGRQWKHXQLYHUVLW\¶VFDPSXVUHFHQWO\LQVSHFWHGWKH%RUWV+RXVHIRXQGDWLRQ VWRQH%DVHGRQKLVIDPLOLDULW\ZLWKORFDOTXDUULHVDQG6DPXHO&DOYLQ¶V*HRORJ\RI-RKQVRQ&RXQW\&ODUN EHOLHYHVWKHVWRQHFDPHIURP³WKHROG>(XFOLG@6DQGHUV4XDUU\ORFDWHGDORQJ'XEXTXH6WUHHWLPPHGLDWHO\ VRXWKRIWKH0D\IORZHUGRUP´DORQJWKHHDVWEDQNRIWKH,RZD5LYHU)LJ7KLVLVLQWKHQRUWKZHVW FRUQHURI,RZD&LW\DQGDIHZEORFNVZHVWRIWKH%RUWVEXLOGLQJVLWHLQ $WWKHWLPHRI&DOYLQ¶VUHSRUWSXEOLVKHGMXVWD\HDUSULRUWRFRQVWUXFWLRQRI%RUWV+RXVHWKHORZHU¶RIWKLV TXDUU\ZRXOGKDYHEHHQ³IUHVK´URFNLQ&ODUN¶VRSLQLRQVKRZLQJDEXQGDQWIRVVLOVDQGQRWDOWHUHGRUFRQFHDOHG E\WKHZHDWKHULQJSURFHVVDGHVFULSWLRQWKDWPDWFKHVWKH%RUWV+RXVHVWRQH6DQGHUV¶TXDUU\ZDVWKHQHDUHVW ORFDWLRQIRUWKLVEOXLVKJUD\FRORUHGVWRQH)XUWKHUWKRXJKSHUKDSVQRWTXLWHD³VPRNLQJJXQ´&DOYLQ¶VUHSRUW DOVRVWDWHV³7KLVTXDUU\KDVEHHQZRUNHGIRUVRPH\HDUVE\0U*LOEHUW,ULVK´*LOEHUW,ULVKZDVWKHVRQRI 5\DQ-&ODUNHPDLOWRDXWKRUDQGVLWHYLVLW 7KHVRXUFHRIWKHWZRW\SHVRIEULFNVIRU%RUWV+RXVHLVOHVVFOHDUEXWEHFDXVHRILWVQRUWKVLGHSUR[LPLW\WRWKHEXLOGLQJV LWHWKH FRPPRQEULFNVOLNHO\FDPHIURP&KULVWLDQ*DXORFKHU 6RQ¶VEULFN\DUGDWWKHFRUQHURI'RGJHDQG%URZQVWUHHWVDVLWHQRZGHGLFDWHG DVWKHFLW\¶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¶VVPRRWKFROXPQV0D\ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH )UHGHULFN,ULVKDQGLQZKRVHIDPLO\KRPHDQGDFUHDJH'DYLG%RUWVOLYHGDWWKHWLPHVHHSDJHV 7KHUHIRUHWKH%RUWV+RXVHIRXQGDWLRQVWRQHPD\KDYHEHHQDFKRLFHEDVHGPRUHRQFRQYHQLHQFHDQG IDPLOLDULW\ZLWK³*LO´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±SDJH UHSUHVHQWDQXQXVXDOORFDOFKRLFHRIPDWHULDOVLQZKLFKWRH[HFXWHWKLVYHU\SRSXODUDQGZLGHVSUHDGODWH QLQHWHHQWKDQGHDUO\WZHQWLHWKFHQWXU\DUFKLWHFWXUDOVW\OH7KHIDPLO\¶VEDFNJURXQGLQPDVRQU\PD\KDYHKDG VRPHWKLQJWRGRZLWKLW )LJXUH%RUWV+RXVHDQGGHWDLORIXSSHUIDoDGH0D\ :KHQ$OEHUWDQG$OLFH%RUWVEXLOWWKHLUEULFNKRXVHLQQRUWKHDVW,RZD&LW\LQ²VWLOOWKHVHPLUXUDOIULQJH RIWRZQ²WKH\VHHPLQJO\ZHUHVLPSO\FRQWLQXLQJDORQJIDPLO\WUDGLWLRQWKDWIDYRUHGPDVRQU\FRQVWUXFWLRQ 6WDUWLQJDVD\RXWKRIDQGIRUWKHQH[W\HDUV$OEHUWZRUNHGDVDEULFNOD\HUIRUKLVIDWKHU'DYLG%RUWV $OEHUW¶V\RXQJHUEURWKHU&KDUOHVDOVREHFDPHDEULFNOD\HUDQGVWD\HGZLWKWKHFUDIWWKURXJKRXWKLVDGXOW OLIH$WDJHKRZHYHU$OEHUWPDUULHG$OLFH(YHO\Q6PLWKIURP&LQFLQQDWL2KLRDQGHPEDUNHGRQD GHFDGHVORQJFDUHHUDVDPDLOFDUULHUIRUWKHIHGHUDOJRYHUQPHQWDMREWKDWODVWHGXQWLOKLVUHWLUHPHQWLQ 7KHEURWKHUV¶SDUHQWV0DU\.LPEDOO%RUWVDQG'DYLG%RUWVOLYHGLQWKLVQRUWKHDVWDUHDRIWRZQPRYLQJLQ LQWRDELJKRXVHZLWKDODUJHDFUHDJHMXVWHDVWRIWKHHQGRI'DYHQSRUW6WUHHWNQRZQDVWKH,ULVK +DPLOWRQ.LPEDOOKRXVH7KLVSURSHUW\UHPDLQHGLQWKH%RUWVIDPLO\IRUWKHQH[W\HDUVWKRXJKWKHUHLVVRPH LQGLFDWLRQWKHFRXSOHDOVROLYHGIRUDIHZ\HDUVLQWKHSDLQWHGEULFNKRXVHDW5HQRDQGWKHUHGEULFNDW 5HQR )HGHUDOFHQVXV$WYDULRXVWLPHV&KDUOHVUHQWHGERWK&LYLO:DUHUDKRXVHVQH[WGRRUWRKLVEURWKHUDQGVLVWHULQODZ¶V6HH )LJXUHVEHORZ,RZD6LWH,QYHQWRU\IRUPIRU5HQR6+32UHFRUGUHFLWLQJZKDWORRNVOLNHFLW\GLUHFWRU\HQWULHV ,RZD&LW\3UHVV&LWL]HQ 0DU\¶VPDLGHQQDPHLVWDNHQIURP&KDUOHV5D\$XUQHU/HDGLQJ(YHQWVLQ-RKQVRQFRXQW\+LVWRU\YRO&HGDU5DSLGV,RZD :HVWHUQ+LVWRULFDO3UHVV7KLVZDVZULWWHQDIWHU0DU\¶VGHDWKLQEXWZKLOH'DYLGZDVVWLOODOLYHKHGLHGLQ6KH LVDOVROLVWHGDV0DU\.LPEDOO%RUWVLQ³86)LQGD*UDYH,QGH[V&XUUHQW´$QFHVWU\FRP8QIRUWXQDWHO\ERWK%RUWVDQG.LPEDOO KDYHEHHQPLVVSHOOLQJLQYDULRXVZD\VLQWKHKLVWRULFDOUHFRUG7KHVHDUHWKHPRVWFRPPRQVSHOOLQJVKRZHYHUWKHYDULDWLRQVPDNH GUDZLQJVRPHFRQFOXVLRQVWHQXRXV ,UYLQJ:HEHU,UYLQJ:HEHU¶V,RZD&LW\³&KURQRORJ\´YRO,RZD6LWH,QYHQWRU\IRUPIRU5HQR6+32UHFRUGV ,RZD&LW\3UHVV&LWL]HQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±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¶ZRUNVWLOOVWDQGLQJRQFDPSXVLV&DOYLQ+DOODOVRNQRZQDVWKH2OG6FLHQFHEXLOGLQJ )LJ&RQVWUXFWHGLQRIUHGEULFNDQGOLPHVWRQHQHDUWKHFHQWHURIFDPSXVLQ&DOYLQ+DOOZDV PRYHGIHHWDFURVVWKHVWUHHWZLWK³ VFUHZMDFNVDQGDQDUP\RIKRUVHV´DOOWKH ZKLOHVWLOOKROGLQJFODVVHVLQLW $QRWKHUNQRZQFDPSXVEXLOGLQJE\'DYLG %RUWVDPDQK\SHUEROLFDOO\FODLPHGWRKDYH ³EXLOWPRUHEXLOGLQJVLQ,RZD&LW\WKDQDQ\ RWKHUPDQ´LVWKHXQLYHUVLW\¶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¶VDOVRPD\KDYHEHHQFRQVWUXFWHGE\'DYLG%RUWV7KHOLNHOLKRRGH[LVWVLIIRUQRRWKHU UHDVRQWKDQWKHSUHVXPHGVOLPQXPEHURIWUDLQHGPDVRQVLQWKH\RXQJWRZQ7KHUHDUHDOVRSURSHUW\UHFRUGV WKDWLQGLFDWH0DU\%RUWV'DYLG¶VZLIHRZQHGODQGLQWKLVLPPHGLDWHDUHDKRZHYHUWKHODQGWUDQVIHUUHFRUGV KDYHQRWEHHQVHDUFKHGWRVHHLIVKHRZQHGWKHVHSUHFLVHORWV7KHVHQHDUO\LGHQWLFDOEXLOGLQJVDUHWZRVWRULHV WDOOKDYHJDEOHHQGVDQG*UHHN5HYLYDOVW\OLQJ)LJVVHHDOVR)LJIRUDVLPLODUHDUOLHUKRXVHQHDUE\ )UHGHULFN,ULVK¶VVHFRQGKRPH >&RPSLODWLRQRI@3URFHHGLQJVRIWKH-RKQVRQ&RXQW\2OG6HWWOHUV$VVRFLDWLRQ³3URFHHGLQJVRIWKH-RKQVRQ&RXQW\2OG 6HWWHUV$VVRFLDWLRQ)URPWR´ 8QLYHUVLW\RI,RZD³&DOYLQ+DOO&DPSXV0DSVDQG7RXUV´DFFHVVHGDWKWWSVPDSVXLRZDHGXFDOKRQ $XUQHU ,RZD&LW\3UHVV&LWL]HQ $XUQHU,RZD&LW\3UHVV&LWL]HQ )LJXUH&DOYLQ+DOO'DYLG%RUWVEXLOGHU&UHGLW8QLYHUVLW\RI ,RZDF 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±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¶V VHFRQGKRXVHEXLOWDIWHUVHOOLQJKLV QHDUE\FDELQ7DNHQIURP-DQ5 1DVK>QRZ)XOO@³5RVH+LOO´1DWLRQDO 5HJLVWHUQRPLQDWLRQ7KH RULJLQDOSKRWRFLVE\%HUWKD 6KDPEDXJKFROOHFWLRQRIWKH6WDWH +LVWRULFDO6RFLHW\,RZD&LW\ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH VHWWOHPHQWFDELQFRQVWUXFWHGE\)UHGHULFN,ULVK)LYH\HDUVODWHU+DPLOWRQVROGWKHKRXVHDQGODQGWR'U *HRUJH(.LPEDOOZKRGHYHORSHGLWLQWRWKH³5RVH+LOO1XUVHU\´7KH,ULVK+DPLOWRQ.LPEDOOODQGZDV KHOGLQ0DU\%RUWV¶QDPHDQGVKHKDGDOUHDG\DFTXLUHGLQWKHORWVDORQJ5HQR6WUHHWRQZKLFK$OEHUW DQG$OLFH%RUWV¶EULFNKRXVHZRXOGEHEXLOWODWHUPDNLQJKHURQHRIWKHLPSRUWDQWODQGRZQHUVLQWKLVFRUQHURI WKHWRZQ :KLOHWKHWDQJOHRI%RUWVDQG,ULVKDQG.LPEDOOIDPLO\QDPHVRQSURSHUW\UHFRUGVLVFRQIXVLQJDQGQRWWREH IXOO\XQUDYHOHGKHUHLWLVFOHDUWKHVHIDPLOLHVKDGPXFKWRGRZLWKWKHGHYHORSPHQWRIWKHQRUWKHDVWVHFWRURI WRZQDVZHOODV,RZD&LW\JHQHUDOO\'DYLG%RUWV¶LQYHQWRU\RIEULFNDQGVWRQHEXLOGLQJVVXFKDV5HQR 6WUHHWUHPDLQVDWHVWDPHQWWRWKLVEXLOGHU¶VOHJDF\LQ,RZD&LW\ 0DMRU%LEOLRJUDSKLFDO5HIHUHQFHV ,RZD&LW\3UHVV&LWL]HQ .H\HV1XUVHU\PDQ.LPEDOOKDGDGDXJKWHUDOVRQDPHG0DU\ERUQLQ,RZD&LW\LQ7KLVLVDIXOOJHQHUDWLRQDIWHU0DU\ .LPEDOO%RUWV¶ELUWKDQGWZR\HDUVDIWHU0DU\.LPEDOOPDUULHG'DYLG%RUWV:KLOHLWVHHPVXQOLNHO\KLVWRULFUHFRUGVOHDGWRWKH FRQFOXVLRQDQGFRQIXVLRQWKDWWKHUHZHUHWZR0DU\.LPEDOOVLQ,RZD&LW\OLYLQJLQDOPRVWWKHVDPHORFDWLRQDWWKHVDPHWLPH $EVWUDFWRI7LWOHIRU5HQR6WUHHWHQWULHVHWVHT 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH %LEOLRJUDSK\&LWHWKHERRNVDUWLFOHVDQGRWKHUVRXUFHVXVHGLQSUHSDULQJWKLVIRUP $XUQHU&KDUOHV5D\/HDGLQJ(YHQWVLQ-RKQVRQ&RXQW\,RZD+LVWRU\9RO&HGDU5DSLGV,RZD:HVWHUQ +LVWRULFDO3UHVV BBBBB/HDGLQJ(YHQWVLQ-RKQVRQ&RXQW\,RZD+LVWRU\%LRJUDSKLFDO9RO&HGDU5DSLGV,RZD:HVWHUQ +LVWRULFDO3UHVV %RUWV(GQD$OLFHLQWHUYLHZZLWK&DUODQG.DWH.ODXVF>(GQDZDV$OEHUWDQG$OLFH¶VGDXJKWHUDQG 'DYLG%RUWV¶JUDQGGDXJKWHU1HYHUPDUULHGVKHGLHGDWLQ@ &DOYLQ6DPXHO,RZD*HRORJLFDO6XUYH\$QQXDO5HSRUW9RO9,, &ODUN-U&OLIIRUG(GZDUG7KH$PHULFDQ)DPLO\+RPH&KDSHO+LOO7KH8QLYHUVLW\RI1RUWK &DUROLQD3UHVV &ODUN5\DQ-3**HRORJLVW,RZD*HRORJLFDO6XUYH\,RZD&LW\,$>([DPLQHGIRXQGDWLRQVWRQHDQG PDWFKHGLWWRNQRZQKLVWRULFORFDOTXDUULHV0D\@ &RQDUG5HEHFFD³,RZD&LW\1RUWK'RGJH6WUHHW,QWHQVLYH/HYHO+LVWRULFDODQG$UFKLWHFWXUDO6XUYH\DQG (YDOXDWLRQ´,RZD&LW\7DOOJUDVV+LVWRULDQV/& 7KH'DYHQSRUW'DLO\7LPHV 'H:LWW-DFN³9RJW+RXVH´1DWLRQDO5HJLVWHURI+LVWRULF3ODFHVUHJLVWUDWLRQIRUP (OOLV(GZLQ&KDUOHV³&HUWDLQ6W\OLVWLF7UHQGVLQ$UFKLWHFWXUHLQ,RZD&LW\´0$WKHVLV8QLYHUVLW\RI,RZD )ROH\0DU\0L[7KH$PHULFDQ+RXVH1HZ<RUN+DUSHU 5RZ *LURXDUG0DUN6ZHHWQHVVDQG/LJKW7KHµ4XHHQ$QQH¶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¶V(\H9LHZRI,RZD&LW\-RKQVRQ&R,RZD +XHELQJHU6XUYH\DQG0DS3XEOLVKLQJ&R$WODVRI-RKQVRQ&RXQW\,RZD 6DQERUQ0DS&RILUHLQVXUDQFHPDSRI,RZD&LW\XSGDWHGWR 7KRPSVRQ (YHUWV&RPELQDWLRQ$WODV0DSRI-RKQVRQ&RXQW\,RZD 3ODWVRI$GGLWLRQVWR,RZD&LW\-RKQVRQ&RXQW\5HFRUGHU¶V2IILFH :LOOLDP+:RRGVDQGZLIH5RPD:RRGV³:RRGV$GGLWLRQWR,RZD&LW\´ >)UHGHULFN0@³,ULVK¶V([WHQVLRQRI:RRGV$GGLWLRQWR,RZD&LW\´>)LOHGE\*LOO,ULVKRQEHKDOIRIKLV IDWKHUZKRZDVWKHQEOLQG@ 3RSSHOLHUV-RKQ&HWDO:KDW6W\OHLVLW"$*XLGHWR$PHULFDQ$UFKLWHFWXUH:DVKLQJWRQ'&3UHVHUYDWLRQ 3UHVV 3URFHHGLQJVRIWKH-RKQVRQ&RXQW\2OG6HWWOHUV$VVRFLDWLRQ&RPSLODWLRQ&ROOHFWLRQRIWKH6WDWH +LVWRULFDO6RFLHW\RI,RZD,RZD&LW\ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH 6YHQGVHQ0DUO\V$³*RRVHWRZQ1HLJKERUKRRG3KDVH,,,6XUYH\´6LWH,QYHQWRU\)RUP 86IHGHUDOFHQVXVFHPHWHU\UHFRUGVPDUULDJHUHFRUGVIRU%RUWVIDPLO\PHPEHUV$FFHVVHGDW $QFHVWU\FRPYDULRXVGDWHVLQ0D\ :HEHU,UYLQJ$UWLFOHVILUVWDSSHDULQJLQWKH,RZD&LW\3UHVV&LWL]HQDQGWKHQUHSULQWHGLQ,UYLQJ:HEHU¶V,RZD &LW\YROXPHDQGSDJHVDVQRWHG ³&OXHV´9RO ³&KURQRORJ\%LRJUDSKLHV6KRUWHU3LRQHHUV´9RO ³&KURQRORJ\´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±SDJH 10. Geographical Data $FUHDJHRI3URSHUW\)OHVVWKDQDFUH ('RQRWLQFOXGHSUHYLRXVO\OLVWHGUHVRXUFHDFUHDJHHQWHU³/HVVWKDQRQH´LIWKHDFUHDJHLVRUOHVV) /DWLWXGH/RQJLWXGH&RRUGLQDWHV 'DWXPLIRWKHUWKDQ:*6) HQWHUFRRUGLQDWHVWRGHFLPDOSODFHV BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 9HUEDO%RXQGDU\'HVFULSWLRQ'HVFULEHWKHERXQGDULHVRIWKHSURSHUW\ 7KHQRUWKIHHWRIORWDQGWKHVRXWKIHHWRIORWLQ,ULVK¶V([WHQVLRQWR:RRGV¶$GGLWLRQWR,RZD&LW\ BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB %RXQGDU\-XVWLILFDWLRQ([SODLQZK\WKHERXQGDULHVZHUHVHOHFWHG 7KLVLVWKHSDUFHOKLVWRULFDOO\DVVRFLDWHGZLWKWKH$OEHUW-DQG$OLFH(%RUWVKRXVHDW5HQR6WUHHW,RZD &LW\,RZD 11. Form Prepared By QDPHWLWOH-DQ2OLYH)XOO3K'GDWH-XQH RUJDQL]DWLRQ7DOOJUDVV)XOO//&WHOHSKRQH VWUHHW QXPEHUQDHPDLOMRIRILF#JPDLOFRP FLW\RUWRZQ,RZD&LW\VWDWH,$]LSFRGH $GGLWLRQDO'RFXPHQWDWLRQ 6XEPLWWKHIROORZLQJLWHPVZLWKWKHFRPSOHWHGIRUP x*,6/RFDWLRQ0DS*RRJOH(DUWKRU%,1* x/RFDO/RFDWLRQ0DS x6LWH3ODQ x)ORRU3ODQV$V$SSOLFDEOH /DWLWXGH/RQJLWXGH/DWLWXGH /RQJLWXGH /DWLWXGH /RQJLWXGH /DWLWXGH/RQJLWXGH 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH x3KRWR/RFDWLRQ0DS,QFOXGHIRUKLVWRULFGLVWULFWVDQGSURSHUWLHVKDYLQJODUJHDFUHDJHRUQXPHURXVUHVRXUFHV.H\DOOSKRWRJUDSKVWR WKLVPDSDQGLQVHUWLPPHGLDWHO\DIWHUWKHSKRWRORJDQGEHIRUHWKHOLVWRIILJXUHV 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH 3KRWRJUDSKV 6XEPLWFOHDUDQGGHVFULSWLYHSKRWRJUDSKV7KHVL]HRIHDFKLPDJHPXVWEH[SL[HOVDWSSLSL[HOVSHULQFKRUODUJHU.H\DOOSKRWRJUDSKV WRWKHVNHWFKPDS(DFKSKRWRJUDSKPXVWEHQXPEHUHGDQGWKDWQXPEHUPXVWFRUUHVSRQGWRWKHSKRWRJUDSKQXPEHURQWKHSKRWRORJ)RUVLPSOLFLW\ WKHQDPHRIWKHSKRWRJUDSKHUSKRWRGDWHHWFPD\EHOLVWHGRQFHRQWKHSKRWRJUDSKORJDQGGRHVQ¶WQHHGWREHODEHOHGRQHYHU\SKRWRJUDSK 3KRWR/RJ 1DPHRI3URSHUW\ Borts, Albert J. and Alice E., House &LW\RU9LFLQLW\,RZD&LW\ &RXQW\-RKQVRQ6WDWH ,$ 3KRWRJUDSKHU-DQ2OLYH)XOO 'DWH3KRWRJUDSKHG0D\ 'HVFULSWLRQRI3KRWRJUDSKVDQGQXPEHULQFOXGHGHVFULSWLRQRIYLHZLQGLFDWLQJGLUHFWLRQRIFDPHUD 3KRWRRI:HVWIDoDGHDQGQRUWKVLGHORRNLQJVRXWKHDVW 3KRWRRI:HVWIDo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±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±SDJH 0$36 7KHORFDWLRQRI5HQR6WLVPDUNHGZLWKDUHGVWDULQWKHFHQWHURIWKHPDS 6RXUFH*RRJOHFRPRQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH 0$36FRQWLQXHG 1AQRVFDOH 5HQRLVRXWOLQHGLQUHG7KHODUJHUIRRWSULQWLVWKHKRXVHWKHVPDOOHULVWKHJD]HER1XPEHUVDUHVWUHHW DGGUHVVHV 6RXUFH-RKQVRQ&RXQW\*,63URSHUW\,QIRUPDWLRQ9LHZHU$FFHVVHGDWKWWSVJLVMRKQVRQ FRXQW\FRPSLY"VHDUFK RQ 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH 6,7(3/$1VKRZLQJEXLOGLQJRXWOLQHVGHWDLORISULRUPDS 1AQRVFDOH 6,7(3/$1ZLWKH[WHULRUSKRWRORFDWLRQVYLHZV 6RXUFH,RZD&LW\$VVHVVRU 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH )/2253/$16VNHWFKHGE\DXWKRUXVLQJDVVHVVRURXWOLQHDVEDVH 8QLWHG6WDWHV'HSDUWPHQWRIWKH,QWHULRU 1DWLRQDO3DUN6HUYLFH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHV5HJLVWUDWLRQ)RUP 136)RUP 20%1R %RUWV$OEHUW-DQG$OLFH(+RXVH-RKQVRQ,RZD 1DPHRI3URSHUW\&RXQW\DQG6WDWH 6HFWLRQV±SDJH )/2253/$16FRQWLQXHG Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo #1 Photo #2 Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo #3 Photo #4 Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo #5 Photo #6 Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo #7 Photo #8 Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo #9 Photo #10 Borts, Albert J. and Alice E., House – 416 Reno St., Iowa City, IA Photo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¶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¶VUROHLVWRUHYLHZWKHSURSRVHGGHVLJQDWLRQEDVHGRQLWVUHODWLRQWR WKH&RPSUHKHQVLYH3ODQDQGSURSRVHGSXEOLFLPSURYHPHQWVDQGSODQVIRUUHQHZDORIWKHDUHD LQYROYHG 7KHUHDUHWZRVSHFLILFDUHDVRIWKH&RPSUHKHQVLYH3ODQWKDWDSSHDUWRDSSO\WRWKLVSURSRVDO WKH1RUWK'LVWULFW3ODQDQGWKH+LVWRULF3UHVHUYDWLRQ3ODQ 7KHVXEMHFWSURSHUW\LVORFDWHGZLWKLQWKHDUHDRIVWHHSZRRGHGUDYLQHVLQWKH1RUWK'LVWULFW ZKHUHWKHVHHQYLURQPHQWDOUHVRXUFHVDUHSUL]HGIRUWKHHFRORJLFDODQGDHVWKHWLFYDOXH1RUWK 'LVWULFW3ODQSJ7KH1RUWK'LVWULFW3ODQQLQJSULQFLSOHVHQFRXUDJHUHWDLQLQJWKHVLQJOHIDPLO\ UHVLGHQWLDO FKDUDFWHU RIWKH QHLJKERUKRRGV1RUWK 'LVWULFW 3ODQ SJ DQG WKH SURWHFWLRQ RI VHQVLWLYHHQYLURQPHQWDOIHDWXUHV1RUWK'LVWULFW3ODQSJ7KHGHVLJQDWLRQRI'XEXTXH 6WUHHW DV D KLVWRULF ODQGPDUN ZRXOG SUHVHUYH WKH SURSHUW\ IURPIXWXUH GHYHORSPHQW ZKLFK VDWLVILHVERWKSULQFLSOHV,QDGGLWLRQWKHGHVLJQDWLRQZLOOUHWDLQWKHUHVLGHQWLDOQRQFRPPHUFLDO FKDUDFWHURIWKHDUHDWKDWFUHDWHVDSOHDVDQWJDWHZD\VHWWLQJGHVFULEHGLQWKH'XEXTXH6WUHHW 'HFHPEHU 3DJH GLVFXVVLRQ SJ 7KH )RVWHU 5RDG ([WHQVLRQ DUHD HQFRXUDJHV WKH FRQVHUYDWLRQ DQG SURWHFWLRQRIHQYLURQPHQWDOO\VHQVLWLYHDUHDVDQGWKHVLQJOHIDPLO\FKDUDFWHURIWKHDUHD1RUWK 'LVWULFW3ODQSJ 7KH +LVWRULF 3UHVHUYDWLRQ HOHPHQW RI WKH &RPSUHKHQVLYH 3ODQ FRQWDLQV WZR VSHFLILF JRDOV UHODWLQJWRWKLVSURSRVDO*RDO,GHQWLI\KLVWRULFUHVRXUFHVVLJQLILFDQWWR,RZD&LW\¶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±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orth Dubuque Streetμ0 0.085 0.170.0425 MilesPrepared By: Luke FoelschDate Prepared: Nov. 2018An application submitted by Joe Dan Coulter forthe rezoning of approximately 1.73 acres locatedat 1818 North Dubuque Street from Low DensitySingle-Family Residential (RS-5) to Low DensitySingle-Family Residential (RS-5) with a HistoricDistrict Overlay (OHD). )267(55'+,'' ( 1 0($' 2 : / 1 3(17,5(&,5%-$<69,//(/1:+,7,1*$9(&2/: < 1 & 7&$0%251(&,5,'<//:,/''51'8% 8 4 8 ( 6 7 5,'*(:22'/1 .12// : 2 2 '/ 1 1'8%848(675,'*(5'/$85 $ ' 5 &,7<3$5.52$'67$)763((':$<5656565656335056565656565656563565656565635656565656565656565656563565056565656565656565635656565656356565656565656565656356565656565656565656565635656565635656565656565656565656565635656565656565656565656563565656565656356565656565656REZ18-000231818 North Dubuque Streetμ0 0.085 0.170.0425 MilesPrepared By: Luke FoelschDate Prepared: Nov. 2018An application submitted by Joe Dan Coulter forthe rezoning of approximately 1.73 acres locatedat 1818 North Dubuque Street from Low DensitySingle-Family Residential (RS-5) to Low DensitySingle-Family Residential (RS-5) with a HistoricDistrict Overlay (OHD). 'DWH 'HFHPEHU 7R +LVWRULF3UHVHUYDWLRQ&RPPLVVLRQ )URP -HVVLFD%ULVWRZ+LVWRULF3UHVHUYDWLRQ3ODQQHU 5H 1'XEXTXH6WUHHW±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he Commission should determine if the property meets criterion a. and b. and at least one of the criteria c., d., e., or f. for local designation listed below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¶V $GGLWLRQ RU IURP KHU KXVEDQG *HRUJH¶V (VWDWH $V D UHPDLQLQJ UHSUHVHQWDWLYH RI WKH SLFWXUHVTXH GHYHORSPHQW RI ,RZD &LW\¶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³ &UDIWVPDQ´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±2XWVLGH RI,RZD&LW\¶V*URZWK$UHD%HFDXVHWKHSURSHUW\LVZLWKLQ,RZD&LW\¶VWZRPLOH)ULQJH $UHDWKH)ULQJH$UHD$JUHHPHQWVSHFLILHVWKDWWKH&LW\ZLOOPDNHDUHFRPPHQGDWLRQWR WKH&RXQW\3ODQQLQJDQG=RQLQJ&RPPLVVLRQEHIRUHWKH&RXQW\&RPPLVVLRQFRQVLGHUV WKHDSSOLFDWLRQ7KHILQDOGHFLVLRQRQWKHUH]RQLQJIDOOVZLWKLQWKH&RXQW\¶VMXULVGLFWLRQ ,IWKLVUH]RQLQJLVDSSURYHG-RVHSKDQG1DQF\6ODGHNLQWHQGWRDGGDQDGGLWLRQWRDQ H[LVWLQJPDFKLQHVKHG $QDO\VLV ([LVWLQJ/DQG8VHDQG=RQLQJ 7KHVXEMHFWSURSHUW\LVFXUUHQWO\]RQHG&RXQW\+LJKZD\&RPPHUFLDO&+DQGKDVRQH KRPHDQGDPDFKLQHVKHGRQWKHVLWH3URSHUWLHVWRWKHQRUWKHDVWDQGVRXWKDUH]RQHG &RXQW\$JULFXOWXUDO$DQGDUHEHLQJXVHGIRUURZFURSV3URSHUWLHVWRWKHZHVWDUH]RQHG &RXQW\+LJKZD\&RPPHUFLDO&+DQGDUHDOVREHLQJXVHGIRUURZFURSV 3URSRVHG=RQLQJ 6XUURXQGLQJ$UHD 7KHDSSOLFDQWLVUHTXHVWLQJDUH]RQLQJWR&RXQW\$JULFXOWXUH$ZKLFKDOORZVIRUIDUPV QXUVHULHVDQGJUHHQKRXVHVRUFKDUGVDQGWUHHIDUPVZLWKUHVLGHQWLDOXVHVWREHUHVWULFWHG WRWZRVLQJOHIDPLO\GZHOOLQJVRQDIDUPDFUHVRUODUJHU &RPSOLDQFHZLWKWKH&RXQW\¶V&RPSUHKHQVLYH3ODQ 7KH&RXQW\UHFHQWO\XSGDWHGLWV&RPSUHKHQVLYH3ODQDQGWKH)XWXUH/DQG8VH0DSRI WKHFRPSUHKHQVLYHSODQ7KLVDUHDLVQRWRQHRIWKHJURZWKDUHDVLGHQWLILHGSHUWKH FRPSUHKHQVLYHSODQ7KHUHIRUHWKH&RXQW\HQYLVLRQVWKLVDUHDWRUHPDLQLQDJULFXOWXUDO SURGXFWLRQ &RPSOLDQFHZLWKWKH)ULQJH$UHD$JUHHPHQW ,QUHYLHZLQJSURSRVHGUH]RQLQJVLQWKH)ULQJH$UHDVWDIIUHOLHVRQWKHSROLFLHVRXWOLQHGLQ WKH)ULQJH$UHD$JUHHPHQW7KH)ULQJH$UHD$JUHHPHQWLVDFRPSRQHQWRIWKH&LW\¶V &RPSUHKHQVLYH 3ODQ DQG DSSOLHV WR DUHDV QRW VSHFLILFDOO\ SODQQHG IRU LQ WKH &LW\¶V &RPSUHKHQVLYH 3ODQ 7KH )ULQJH $UHD $JUHHPHQW LV LQWHQGHG WR SURYLGH JXLGDQFH UHJDUGLQJWKHGHYHORSPHQWRIODQGORFDWHGZLWKLQWZRPLOHVRI,RZD&LW\¶VFRUSRUDWHOLPLWV 7KH DJUHHPHQW¶V VWDWHG SXUSRVH LV WR SURYLGH IRU RUGHUO\ DQG HIILFLHQW GHYHORSPHQW SDWWHUQV DSSURSULDWH WR QRQXUEDQL]HG DUHDV SURWHFW DQG SUHVHUYH WKH IULQJH DUHD¶V QDWXUDOUHVRXUFHVDQGHQYLURQPHQWDOO\VHQVLWLYHIHDWXUHVGLUHFWGHYHORSPHQWWRDUHDV 'HFHPEHU 3DJH ZLWKSK\VLFDOFKDUDFWHULVWLFVZKLFKFDQDFFRPPRGDWHGHYHORSPHQWDQGHIIHFWLYHO\DQG HFRQRPLFDOO\SURYLGHVHUYLFHVIRUIXWXUHJURZWKDQGGHYHORSPHQW 7KLVSURSHUW\LVORFDWHGLQ)ULQJH$UHD%±2XWVLGHWKH&LW\¶V*URZWK$UHD)RUWKLVDUHD WKHDJUHHPHQWVWDWHVWKDWDJULFXOWXUDOXVHVDUHSUHIHUUHG6SHFLILFDOO\WKHDJUHHPHQW VWDWHV ³8QWLORWKHUZLVHFKDQJHGE\DPHQGLQJWKLVDJUHHPHQWWKLVDUHDVKDOOEH UHVWULFWHG WR WKRVH XVHV FRQVLVWHQW ZLWK D 5XUDO$JULFXOWXUDO DUHD DV LQGLFDWHGLQWKH-RKQVRQ&RXQW\/DQG8VH3ODQDQGDVGHVLJQDWHGIRUD 5XUDO$JULFXOWXUH DUHD LQ &KDSWHU &ODVV $'LVWULFW RIWKH -RKQVRQ &RXQW\8QLILHG'HYHORSPHQW2UGLQDQFHDVDPHQGHG´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±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p3ROLF\$WWDFKPHQWDQG7LWOH6HFWLRQLQWKH0XQLFLSDO&RGH ZKLFKDOORZVVLGHZDONFDIHVLQWKHULJKWRIZD\LQWKH&HQWUDO%XVLQHVVDQG5LYHUIURQW &URVVLQJ]RQHGLVWULFWVDQGUHJXODWLRQVIRUVLGHZDONVFDIHV'XHWRWKHDGRSWLRQRIWKH 6LGHZDON &DIp 3ROLF\ DQG WKH UHJXODWLRQV LQ 7LWOH LW LV QRORQJHU QHFHVVDU\ IRU 'HFHPEHU 3DJH VLGHZDON FDIHV JR WKURXJK WKHGH VLJQ UHYLHZ 7KLV DPHQGPHQW ZLOO UHPRYH WKLV LQFRQVLVWHQF\LQWKHFRGH $GGLWLRQDOO\WKH&LW\ZDQWVWRHQFRXUDJHRZQHUVWRDSSO\IRUVLGHZDONFDIHVWRKHOS VXSSRUWEXVLQHVVHVLQFHQWUDOEXVLQHVV]RQHVDQGWKH5LYHUIURQW&URVVLQJV'LVWULFW7KLV VXSSRUWVWKH&RPSUHKHQVLYH3ODQJRDOWR³(QFRXUDJHDKHDOWK\PL[RI LQGHSHQGHQW ORFDOO\RZQHGEXVLQHVVHVDQGQDWLRQDOEXVLQHVVHV´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¶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³%HGDQG%UHDNIDVW +RPHVWD\V´ DQG ³%HG DQG %UHDNIDVW ,QQV´ DUH DOORZHG LQ GXSOH[HV 7KH SURSRVHG DPHQGPHQWZRXOGFODULI\WKDW³%HGDQG%UHDNIDVW+RPHVWD\V´DQG³%HGDQG%UHDNIDVW ,QQV´DUHRQO\DOORZHGLQVLQJOHIDPLO\UHVLGHQFHVQRWLQGXSOH[HV -XVWLILFDWLRQ&XUUHQWO\WKHGHILQLWLRQVRI³%HGDQG%UHDNIDVW+RPHVWD\´DQG³%HGDQG %UHDNIDVW,QQ´GRQRWP DWFKZLWKZKDWLVDOORZHGLQWKH$FFHVVRU\8VHVHFWLRQRIWKH ]RQLQJFRGHXQGHU6SHFLILF$SSURYDO&ULWHULDODLGRXWLQ&7KHJHQHUDOGHILQLWLRQ RIERWK³%HGDQG%UHDNIDVW+RPHVWD\´DQG³%HGDQG%UHDNIDVW,QQ´FXUUHQWO\LQFOXGH GXSOH[HVDVZHOODVVLQJOHIDPLO\GZHOOLQJVKRZHYHUWKH6SHFLILF$SSURYDO&ULWHULDLQ VHFWLRQ &' ( VSHFLI\ WKDWERWK³ %HG DQG %UHDNIDVW +RPHVWD\´ DQG³ %HG DQG %UHDNIDVW,QQ´FDQRQO\EHORFDWHGLQRZQHURFFXSLHGGHWDFKHGVLQJOHIDPLO\KRPHV $FFRUGLQJWRSURYLVLRQ%(XQGHUWKH,QWHUSUHWDWLRQDQG$SSOLFDWLRQRI3URYLVLRQV ³,IWKHSURYLVLRQVRIWKLVWLWOHDUHLQFRQVLVWHQWZLWKRQHDQRWKHURILIWKH\FRQIOLFWZLWK SURYLVLRQVIRXQGLQRWKHUDGRSWHGRUGLQDQFHVUHVROXWLRQVRUUHJXODWLRQVRIWKHFLW\WKH SURYLVLRQWKDWLVPRUHVSHFLILFWRWKHVLWXDWLRQZLOOFRQWURO:KHQUHJXODWLRQVDUHHTXDOO\ VSHFLILFRUZKHQLWLVXQFOHDUZKLFKUHJXODWLRQWRDSSO\WKHPRUHUHVWULFWLYHSURYLVLRQZLOO FRQWURO´6LQFHWKHUHJXODWLRQVIRUERWK³%HGDQG%UHDNIDVW+RPHVWD\´DQG³%HGDQG 'HFHPEHU 3DJH %UHDNIDVW,QQ´LQWKH$FFHVVRU\8VHVHFWLRQRIWKHFRGHDUHERWKPRUHVSHFLILFDQG UHVWULFWLYHWKHJHQHUDOGHILQLWLRQVVKRXOGQRWLQFOXGHGXSOH[HVDQGLQVWHDGEHUHVWULFWHG WRRZQHURFFXSLHGGHWDFKHGVLQJOHIDPLO\KRPHV$GGLWLRQDOO\WKLVZRXOGEHFRQVLVWHQW ZLWKWKH&LW\¶VFXUUHQWSUDFWLFHRIQRWDOORZLQJ%HGDQG%UHDNIDVW+RPHVDQG,QQVLQ GXSOH[HV 6WDII5HFRPPHQGDWLRQ 6WDIIUHFRPPHQGVWKDWWKH3 ODQQLQJDQG=RQLQJ&RPPLVVLRQUHFRPPHQGDGRSWLRQRI WKHGUDIWRUGLQDQFHE\WKH,RZD&LW\&LW\&RXQFLO $WWDFKPHQWV 'UDIWRI7H[W$PHQGPHQWV 5HVROXWLRQWKH6LGHZDON&DIp3ROLF\ 2UGLQDQFH DOORZLQJ IRU H[SDQGHG XVHV LQ ,QWHQVLYH &RPPHUFLDO =RQHV&, $SSURYHGE\BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB 'DQLHOOH6LW]PDQ$,&3'HYHORSPHQW6HUYLFHV&RRUGLQDWRU 'HSDUWPHQWRI1HLJKERUKRRGDQG'HYHORSPHQW6HUYLFHV '5$)77(;7$0(1'0(176 3ODQQLQJ =RQLQJ&RPPLVVLRQ 'HFHPEHU $PHQG&$'HVLJQDWHG$UHDV%XLOGLQJVDQG6WUXFWXUHVDVIROORZV 3URMHFWVORFDWHGLQWKHIROORZLQJDUHDVDUHVXEMHFWWRWKHGHVLJQUHYLHZSURFHVV « 6LGHZDON&DIHV'HVLJQUHYLHZLVUHTXLUHGIRUDOOVLGHZDONFDIHVORFDWHGLQWKH SXEOLFULJKWRIZD\SXUVXDQWWRWKHSURYLVLRQRIWLWOHFKDSWHU³&RPPHUFLDO8VH RI6LGHZDONV´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«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«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¶LQZLGWKLIGHVLJQHGIRUWZRZD\WUDIILFRUWHQIHHW¶LQ ZLGWKLIGHVLJQHGIRURQHZD\WUDIILF $PHQG$+'HVLJQDQG/D\RXWRI6XUIDFH3DUNLQJ$UHDVDVIROORZV 'ULYHV$GULYHSURYLGLQJDFFHVVWRDSDUNLQJDUHDZLWKPRUHWKDQHLJKWHHQ VSDFHVPXVWEHQROHVVWKDQHLJKWHHQIHHW¶LQZLGWKLIGHVLJQHGIRU WZRZD\WUDIILFRUWHQIHHW¶LQZLGWKLIGHVLJQHGIRURQHZD\WUDIILF $PHQG$*HQHUDO'HILQLWLRQVDVIROORZV %('$1'%5($.)$67+20(67$<$QDFFHVVRU\XVHZLWKLQDQRZQHU RFFXSLHGVLQJOHIDPLO\RUGXSOH[GZHOOLQJXQLWLQZKLFKQRPRUHWKDQWKUHH EHGURRPVDUHSURYLGHGWRJXHVWVZKRVWD\IRUSHULRGVQRWWRH[FHHGIRXUWHHQ FRQVHFXWLYHGD\V %('$1'%5($.)$67,11$QDFFHVVRU\XVHZLWKLQDQRZQHURFFXSLHG VLQJOHIDPLO\RUGXSOH[GZHOOLQJXQLWZLWKDPD[LPXPRIILYHEHGURRPV SURYLGHGWRJXHVWVZKRVWD\IRUSHULRGVQRWWRH[FHHGIRXUWHHQFRQVHFXWLYH GD\V 0,187(635(/,0,1$5< 3/$11,1*$1'=21,1*&200,66,21 2&72%(5±30±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¶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lanning and Zoning Commission October 18, 2018 Page 2 of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³*RRG1HLJKERU3ROLF\´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¶VDJUHHPHQWDV ZHOODVDGHWDLOHGODQGVFDSLQJSODQSDUWLFXODUO\IRFXVLQJRQSURYLGLQJDEXIIHUIURPWKH SURSRVHGKRXVLQJDQG+HUEHUW+RRYHU+LJKZD\ 5XVVHWWQRWHGRQHFRUUHFWLRQUHJDUGLQJWKHQHLJKERUKRRGRSHQVSDFHUHTXLUHPHQWWKHVWDII Planning and Zoning Commission October 18, 2018 Page 3 of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¶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¶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¶V3DUNV'HSDUWPHQWRQWKLVGXULQJILQDOSODWWLQJ+HQVFKDVNHG ZKDWVL]HRIVSDFHLVQHHGHGIRUSRFNHWSDUNVKHIHHOVLWLVQHFHVVDU\IRUFKLOGUHQWRKDYHD SODFHWRSOD\FORVHWRWKHLUKRPHV5XVVHWWLVXQVXUHRIWKHSUHIHUUHGVL]HEXWQRWHGWKH DSSOLFDQWLVSURSRVLQJVRPHRSHQVSDFHIRUWKHUHVLGHQWVRIWKLVSURMHFW 7RZQVHQGDVNHGZKDWWKHDIIRUGDEOHKRXVLQJLVEDVHGRQVLQFHWKLVSURMHFWLVUHFHLYLQJIXQGV WRZDUGVDIIRUGDEOHKRXVLQJ5XVVHWWQRWHGWKHDSSOLFDQWFDQDGGUHVVWKHUHQWVDQGWDUJHW UHQWHUV '\HUQRWHGWKDWVLQFHDIIRUGDEOHKRXVLQJLVOLNHO\WRLQFOXGHFKLOGUHQLWVKRXOGEHH[SHFWHGWR KDYHDSOD\JURXQGRUIDFLOLW\IRUFKLOGUHQWRSOD\RQVLWH5XVVHWWQRWHGWKHDSSOLFDQWLVSURSRVLQJ DSOD\JURXQGRQWKHVLWH +HQVFKRSHQSXEOLFPHHWLQJ 0HJDQ&DUU,&+RXVLQJ*URXS6DQG'HYHORSPHQW//&VWDWHGWKH\GRKDYHDSURSRVHG Planning and Zoning Commission October 18, 2018 Page 4 of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lanning and Zoning Commission October 18, 2018 Page 5 of 15 +HQVFKFORVHGWKHSXEOLFKHDULQJ 3DUVRQVPRYHGWRUHFRPPHQGDSSURYDORI5(=DQDSSOLFDWLRQVXEPLWWHGE\,& +RXVLQJ//&IRUDUH]RQLQJIURP,'50WR50IRUDSSUR[LPDWHO\DFUHVDQG50 IRUDSSUR[LPDWHO\DFUHVRQDSSUR[LPDWHO\DFUHVRISURSHUW\ORFDWHGVRXWKRI +HUEHUW+RRYHU+LJKZD\DQGHDVWRI6FRWW%OYGVXEMHFWWR&LW\&RXQFLODSSURYDORIWKH IROORZLQJFRQGLWLRQV $QRUWKVRXWKVWUHHWVKDOOEHEXLOWWR&LW\VWDQGDUGVDQGGHGLFDWHGWRWKH&LW\DV DSXEOLFLPSURYHPHQWLQDFFRUGDQFHZLWKDVXEGLYLGHU¶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¶VFRQFHUQUHJDUGLQJWKLVEHLQJDQHQWUDQFHWR,RZD&LW\DQGIHHOV WKHODQGVFDSLQJSODQVDORQJ+HUEHUW+RRYHU+LJKZD\DUHLPSRUWDQWDVZHOODVKLVFRQFHUQ DERXWWKHSHRSOHOLYLQJDWWKH,RZD&LW\&DUH&HQWHUDQGWKHYLHZIURPWKHLUIDFLOLW\VKRXOGQRW EHDSDUNLQJORW,WLVDORWRIGHQVLW\LQWKLVDUHDVRODQGVFDSLQJLVQHHGHG+HDFNQRZOHGJHG ,RZD&LW\GHVSHUDWHO\QHHGVDIIRUGDEOHKRXVLQJEXWWKDWGRHVQ¶WPHDQSHRSOHZKROLYHLQ DIIRUGDEOHKRXVLQJVKRXOGQ¶WKDYHGHFHQWIDFLOLWLHVDQGDUHDVWROLYHLQ+HQVFKLVFRQFHUQHG DERXWWKHRYHUDOOODFNRIJUHHQVSDFHRUDSODFHIRUDSRFNHWSDUN$GGLWLRQDOO\WKHUHVHHPVWR EHFKURQLFSUREOHPLQ,RZD&LW\UHJDUGLQJVWRUPZDWHUPDQDJHPHQWDQGKHIHHOVWKH &RPPLVVLRQVKRXOGUHFHLYHD&LW\(QJLQHHU¶VUHSRUWIRUDQ\UH]RQLQJHVSHFLDOO\LQWKLVDUHD ZKHQWKH\NQRZLWLVDQLVVXHZLWKWKHQHLJKERUV 3DUVRQVDVNHGLIWKH&LW\(QJLQHHUKDVWRVLJQRIIRQHYHU\DSSOLFDWLRQIRUVWRUPZDWHU PDQDJHPHQW5XVVHWWVDLGVWRUPZDWHUPDQDJHPHQWLVDGGUHVVHGDWSODWWLQJDQGWKHVLWHSODQ VWDJHVRWKHDSSOLFDQWZLOOEHUHTXLUHGWRPHHWDOOWKH&LW\¶VVWRUPZDWHUPDQDJHPHQW UHJXODWLRQV 0DUWLQQRWHGWKDW\HVWKH&LW\QHHGVWKLVW\SHRIKRXVLQJDQGUHDOO\OLNHVWKHVW\OHRIWKHEXLOGLQJ EXWZDQWVWRPDNHVXUHVPDUWGHFLVLRQVDUHEHLQJPDGHIRUWKHHQWLUHFRPPXQLW\ +HQVFKDOVRQRWHGWKDWWKH&RPPLVVLRQKDVRIWHQVHHQHOHYDWLRQGUDZLQJVDWWKHUH]RQLQJ SKDVHVRWKH\FDQEHEHWWHULQIRUPHGDQGWKDWKDVQ¶WKDSSHQHGODWHO\ 6LJQVFRQFXUUHGDQGQRWHGWKDWLVKLVFRQFHUQDERXWWKHSKDVH&ORWWKHDUHDLVGHQVHLWLV QHLJKERULQJERWKUHVLGHQWLDODQGFRPPHUFLDODQGLVXQFRPIRUWDEOHQRWKDYLQJDSLFWXUHRIWKH ZKROHSURSHUW\DWWKLVVWDJH Planning and Zoning Commission October 18, 2018 Page 6 of 15 '\HUQRWHGWKHODQGVFDSHLVVXHLVEHFDXVHWKHSDUNLQJORWLQSKDVH$LVDODUJH DVSKDOWFRQFUHWHSDUNLQJDUHDDQGRIWHQZLWKDUHDVWKDWODUJHWKHUHLVDOVRODQGVFDSLQJZLWKLQ WKHSDUNLQJORWWKHUHVLGHQWVRIRQHVLGHRIWKHEXLOGLQJZLOOKDYHDYLHZRIRQO\WKHSDUNLQJORW DVZHOO 5XVVHWWQRWHGWKH&LW\GRHVKDYHODQGVFDSLQJUHTXLUHPHQWVIRUSDUNLQJORWVDQGDOORIWKDWLV DGGUHVVHGDWWKHVLWHSODQVWDJHDQGWKHZKROHSURMHFWLVVXEMHFWWRWKH&LW\¶VPXOWLIDPLO\GHVLJQ VWDQGDUGV 7RZQVHQGQRWHGWKHFRQFHUQUHJDUGLQJWKHQHDUHVWEXVVWRSò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¶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lanning and Zoning Commission October 18, 2018 Page 7 of 15 FRINGE AREA REZONING ITEM (CZ18-00002): 'LVFXVVLRQRIDQDSSOLFDWLRQVXEPLWWHGE\&ODXGHDQG$GDP*UHLQHUIRUDUH]RQLQJIURP&RXQW\ $JULFXOWXUH$WR&RXQW\6LQJOH)DPLO\5HVLGHQWLDO5IRUDSSUR[LPDWHO\DFUHVRI SURSHUW\ORFDWHGVRXWKRI$PHULFDQ/HJLRQ5RDGDQGZHVWRI:DSVLH$YHQXH6( 5XVVHWWQRWHGWKLVLWHPLVORFDWHGLQ-RKQVRQ&RXQW\QRWLQ,RZD&LW\OLPLWVEXWLVLQIULQJHDUHD %RXWVLGHWKH&LW\¶VJURZWKDUHD6KHVKRZHGRQDPDSZKHUHWKHSURSRVHGUH]RQLQJLV ORFDWHGDQGQRWHGWKHFXUUHQW&RXQW\]RQLQJIRUWKLVDUHDLVDJULFXOWXUDO7KHDSSOLFDQWLV SURSRVLQJGLYLGLQJWKHSDUFHOLQWRVHYHQVLQJOHIDPLO\UHVLGHQWLDOORWVDQGRQHRXWORW5XVVHWW QRWHGWKH&LW\LVUHTXLUHGWRORRNDWUH]RQLQJVLQWKHIULQJHDUHDSHUWKH)ULQJH$UHD$JUHHPHQW 7KH&RXQW\¶VIXWXUHODQGXVHPDSLQGLFDWHVWKLVDUHDDVUHVLGHQWLDOWKHUHVLGHQWLDOODQGXVH FDWHJRU\DOORZVVLQJOHIDPLO\GHWDFKHGGZHOOLQJVZLWKDSUHIHUUHGGHQVLW\RIRQHGZHOOLQJXQLW SHUDFUHRUPRUH$OWKRXJKWKHGHQVLW\VKRZQRQWKHFRQFHSWSODQLVOHVVWKDQRQHGZHOOLQJXQLW SHUDFUHWKHSURSRVHGUH]RQLQJLVJHQHUDOO\FRQVLVWHQWZLWKWKH&RXQW\¶V&RPSUHKHQVLYH3ODQ 7KH)ULQJH$UHD$JUHHPHQWLVDFRPSRQHQWRIWKH&LW\¶V&RPSUHKHQVLYH3ODQDQGDSSOLHVWR DUHDVQRWVSHFLILFDOO\SODQQHGIRULQWKH&LW\¶V&RPSUHKHQVLYH3ODQ6WDIIUHOLHVRQWKLV $JUHHPHQWDQGSROLFLHVLQUHYLHZLQJSURSRVDOVDQGWKH$JUHHPHQWLVLQWHQGHGWRSURYLGH JXLGDQFHUHJDUGLQJWKHGHYHORSPHQWRIODQGORFDWHGZLWKLQWZRPLOHVRI,RZD&LW\¶VFRUSRUDWH OLPLWV7KLVSURSHUW\LVORFDWHGLQ)ULQJH$UHD%±2XWVLGHWKH&LW\¶V*URZWK$UHD)RUWKLVDUHD WKHDJUHHPHQWVWDWHVWKDWDJULFXOWXUDOXVHVDUHSUHIHUUHG7KH$JULFXOWXUDOODQGXVHFDWHJRU\ HQYLVLRQVDJULFXOWXUDOXVHVVXFKDVURZFURSVDQGDQLPDOKXVEDQGU\ZLWK³YHU\OLPLWHG UHVLGHQWLDOGHYHORSPHQW´ %DVHGRQWKHSROLFLHVRXWOLQHGLQWKH)ULQJH$UHD$JUHHPHQWZKLFKLVSDUWRIWKH&LW\¶V &RPSUHKHQVLYH3ODQVWDIIGRHVQRWUHFRPPHQGDSSURYDORIWKLVUH]RQLQJ6WDIIUHFRJQL]HVWKDW WKHSURSRVHGUH]RQLQJLVFRQVLVWHQWZLWKWKH&RXQW\¶VUHFHQWO\XSGDWHG&RPSUHKHQVLYH3ODQ KRZHYHUVWDIIUHOLHVRQWKH)ULQJH$UHD$JUHHPHQWSROLFLHVZKHQUHYLHZLQJUH]RQLQJVLQWKH )ULQJH$UHD +HQVFKDVNHGWKDWVLQFHWKH)ULQJH$UHD$JUHHPHQWKDVQ¶WEHHQXSGDWHGVLQFHWKH&RXQW\¶V &RPSUHKHQVLYH3ODQZDVXSGDWHGSHUKDSVWKHUHFRPPHQGDWLRQLVWKH)ULQJH$UHD$JUHHPHQW VKRXOGEHXSGDWHG3DUVRQVDJUHHGDQGVDLGWKH\VKRXOGEHXSGDWHGWRJHWKHU5XVVHWWVDLG WKDWFRXOGEHSDVVHGDORQJWRWKH&LW\&RXQFLO 6LJQVDVNHGWKDWWKHUH]RQLQJDSSOLFDWLRQGRHVILWZLWKLQWKH&RXQW\¶V3ODQEXWQRWWKH)ULQJH $UHD$JUHHPHQW5XVVHWWFRQILUPHGWKDWZDVFRUUHFW +HQVFKRSHQHGWKHSXEOLFPHHWLQJ *LQD/DQGDX006&RQVXOWDQWVUHSUHVHQWVWKHDSSOLFDQWV&ODXGHDQG$GDP*UHLQHUDQG ZDQWHGWRDGGUHVVWKH)ULQJH$UHD$JUHHPHQW6KHKDVVSRNHQZLWKWKH&RXQW\DQGZDVWROG WKDWDWDQ\WLPHWKH&RXQW\RUWKH&LW\FDQUHTXHVWDQXSGDWHWRWKH)ULQJH$UHD$JUHHPHQWDQG LWLVWKH&RXQW\¶VLQWHQWLRQWRUHTXHVWDQXSGDWHDVZHOO7KH&RXQW\KDVDOVRWROG/DQGDXWKH\ DUHLQWKHSURFHVVRIZRUNLQJZLWKVRPHRIWKHVPDOOHUWRZQVWRXSGDWHIULQJHDUHDDJUHHPHQWV DQGZHUHZRUNLQJWKHLUZD\XSWR,RZD&LW\7KHFXUUHQW)ULQJH$UHD$JUHHPHQWLV\HDUVROG DQGWKDWLVZK\LWGRHVQ¶WUHIOHFWZKDWWKH&RXQW\¶VFXUUHQWREMHFWLYHVDUH7KHDSSOLFDWLRQ KRZHYHUGRHVIROORZDOOWKH&RXQW\UXOHVUHJDUGLQJGHQVLW\DFUHVRIFRUUHFWVL]HVWUHHW ORFDWLRQVDQGVWRUPZDWHUPDQDJHPHQW/DQGDXUHTXHVWVWKH&RPPLVVLRQUHFRPPHQGWKDW Planning and Zoning Commission October 18, 2018 Page 8 of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¶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lanning and Zoning Commission October 18, 2018 Page 9 of 15 3DUVRQVVWDWHGKHPDGHWKHUHFRPPHQGDWLRQEHFDXVHZKLOHKHEHOLHYHVWKHDSSOLFDWLRQ SUREDEO\GRHVFRQIRUPZLWKWKH&RXQW\LWGRHVQRWFRPSO\ZLWKWKHFXUUHQW)ULQJH$UHD $JUHHPHQW 6LJQVQRWHGWKLVPD\EHFRPHDELJJHULVVXHDVKHLVDZDUHRIWZRRWKHUODUJHRSHQJUHHQ VSDFHVQHDUE\DUHGHVWLQHGIRUGHYHORSPHQWVRWKHUHLVWKHSRWHQWLDORIDUDWKHUODUJHUXUDO UHVLGHQWLDODUHDKHUH $YRWHZDVWDNHQDQGWKHPRWLRQSDVVHG%DNHUDEVHQW ZONING CODE AMENDMENT ITEM (ZCA18-00003): 'LVFXVVLRQRI$PHQGPHQWVWR7LWOH=RQLQJRIWKH,RZD&LW\&RGHUHODWHGWRWUDQVIHURI GHYHORSPHQWULJKWVIRUKLVWRULFSURSHUWLHV 5XVVHWWEHJDQE\SURYLGLQJWKH&RPPLVVLRQZLWKEDFNJURXQGDVWRZK\VWDIILVZRUNLQJRQWKLV RUGLQDQFHVKHZLOOWKHQWDONDERXWWKHH[LVWLQJWUDQVIHUULJKWVSURYLVLRQVZKLFKH[LVWLQ5LYHUIURQW &URVVLQJVDQGILQDOO\ZLOOJHWLQWRWKHVSHFLILFVRIWKHDPHQGPHQWSURSRVHGWRQLJKW $WWKH&LW\&RXQFLO¶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¶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lanning and Zoning Commission October 18, 2018 Page 10 of 15 5XVVHWWQRWHGNH\FRPSRQHQWVRI7'5SURJUDPVDUH x 6HQGLQJ$UHDV$UHDVLGHQWLILHGIRUSURWHFWLRQ7KHVHDUHDVDUHW\SLFDOO\UHTXLUHGWREH SUHVHUYHGDQGDOORUDSRUWLRQRIWKHGHYHORSPHQWSRWHQWLDORIWKHSURSHUW\FRXOGEH WUDQVIHUUHGWRDQRWKHUVLWH x 5HFHLYLQJ$UHDV$UHDVZKHUHWKHGHYHORSPHQWULJKWVIURPWKHVHQGLQJVLWHVFRXOGEH WUDQVIHUUHG7KHVHDUHDUHDVZKHUHWKH&LW\ZDQWVWRHQFRXUDJHJURZWKDQG GHYHORSPHQWDWDKLJKHUGHQVLW\RULQWHQVLW\WKDQFXUUHQWO\DOORZHG7KHVHDUHDVVKRXOG KDYHDGHTXDWHSXEOLFVHUYLFHVDQGXWLOLWLHVWRDFFRPPRGDWHDGGLWLRQDOJURZWKDVZHOO DVDKHDOWK\PDUNHWGHPDQGIRUJURZWK x 7UDQVIHU&DOFXODWLRQV7'5SURJUDPVFDQDOORZWKHWUDQVIHURIDOORUDSRUWLRQRIWKH GHYHORSPHQWSRWHQWLDORIDVHQGLQJVLWH2UGLQDQFHVPXVWRXWOLQHKRZWKHWUDQVIHUVDUH FDOFXODWHG x 3URFHVV $GPLQLVWUDWLRQ7'5SURJUDPVQHHGWRHVWDEOLVKDSURFHVVIRUKRZWUDQVIHUV DUHUHYLHZHGDQGDSSURYHG$GGLWLRQDOO\WUDQVIHUVPXVWEHWUDFNHGRYHUWLPHLHKRZ PDQ\WUDQVIHUVGRSURSHUW\RZQHUVLQWKHVHQGLQJDUHDKDYHKRZPDQ\KDYHEHHQ WUDQVIHUUHGDQGKRZPDQ\UHPDLQZKHUHKDYHWKH\EHHQWUDQVIHUUHG 7KH&LW\FXUUHQWO\KDVD7'5RUGLQDQFHLQWKH5LYHUIURQW&URVVLQJV'LVWULFWIRUWKHGHGLFDWLRQRI RSHQVSDFHSUHVHUYDWLRQRIKLVWRULFSURSHUWLHVDQGWKHGHGLFDWLRQRISXEOLFULJKWRIZD\%HORZ LVDVXPPDU\RIWKHH[LVWLQJSURYLVLRQVIRUKLVWRULFVWUXFWXUHV x (OLJLEOHVHQGLQJVLWHVLQFOXGHSURSHUWLHVGHVLJQDWHGDVDQ,RZD&LW\/DQGPDUNHOLJLEOH IRUODQGPDUNGHVLJQDWLRQUHJLVWHUHGRQWKH1DWLRQDO5HJLVWHURI+LVWRULF3ODFHVRU OLVWHGDVDKLVWRULFDOO\VLJQLILFDQWEXLOGLQJSHUDVXUYH\ x 3ULRUWRUHTXHVWLQJDWUDQVIHURIGHYHORSPHQWULJKWVWKHSURSHUW\PXVWEHGHVLJQDWHGDV DQ,RZD&LW\/DQGPDUNWRHQVXUHLWVSURWHFWLRQORQJWHUP x 5HFHLYLQJVLWHVLQFOXGHSURSHUWLHVZLWKLQWKH5LYHUIURQW&URVVLQJV'LVWULFW x 7KHIRUPXODIRUFDOFXODWLQJWKHWUDQVIHULV/RW$UHDRIWKH6HQGLQJ6LWH;0D[LPXP 1XPEHURI6WRULHV$OORZHGRQWKH6HQGLQJ6LWH 6TXDUH)RRWDJH(OLJLEOHIRU7UDQVIHU x &LW\&RXQFLOPXVWUHYLHZDQGDSSURYHDOOSURMHFWVUHFHLYLQJWUDQVIHURIGHYHORSPHQW ULJKWV x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¶WWKH\EDVHGRQWKHDOORZDEOHVTXDUHIRRWDJHRIDEXLOGLQJWKDWFRXOGJR RQWKDWORW5XVVHWWVWDWHGZKHQWKHIRUPXODZDVGHYHORSHGIRU5LYHUIURQW&URVVLQJVWKH\ LQWHQWLRQDOO\PDGHLWYHU\JHQHURXVEHFDXVHWKH\DQWLFLSDWHGGHYHORSPHQWDQGUHGHYHORSPHQW LQ5LYHUIURQW&URVVLQJVDQGZDQWHGLWWREHDKLJKHUDPRXQWWKDWFRXOGEHWUDQVIHUUHG 5XVVHWWQRWHGWKHGLUHFWLRQVWDIIUHFHLYHGRQWKHFLW\ZLGHRUGLQDQFHLVWRKDYHWKHVHQGLQJVLWHV Planning and Zoning Commission October 18, 2018 Page 11 of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lanning and Zoning Commission October 18, 2018 Page 12 of 15 VXEPLWDUHFRPPHQGDWLRQWRWKH&LW\&RXQFLOIRUWKHLUUHYLHZDQGDSSURYDO 5XVVHWWQRWHGWKHSURSRVHGRUGLQDQFHLVFRQVLVWHQWZLWKWKH&RPSUHKHQVLYH3ODQDVWKHUHDUH JRDOVLQWKH&RPSUHKHQVLYH3ODQWRSURWHFWRXUFRPPXQLW\¶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lanning and Zoning Commission October 18, 2018 Page 13 of 15 UHJDUGVWRPDLQWDLQLQJWKLVGDWDEDVHWKHUHZLOOKDYHWREHWKHDELOLW\WRNHHSWUDFNRIWKHFKDQJH RIWLWOHIRUWKHVHULJKWV +HQVFKDVNHGLIWKLVRUGLQDQFHLVLQUHVSRQVHWRPDUNHWGHPDQG5XVVHWWVDLGLWZDVDUHTXHVW RIWKHSURSHUW\RZQHU¶VDW1RUWK&OLQWRQZKHQWKDWSURSHUW\ZDVJRLQJWKURXJKWKHKLVWRULF GHVLJQDWLRQSURFHVVWKH\UHTXHVWHGIRUWKHLUORFDOODQGPDUNGHVLJQDWLRQEHSXWRQKROGXQWLOWKLV RUGLQDQFHFRXOGEHGLVFXVVHGDQGLPSOHPHQWHG +HQVFKRSHQHGWKHSXEOLFKHDULQJ 0DWWKHZ.XO]DN1&OLQWRQ6WLVDQHFRQVWXGHQWDW7KH8QLYHUVLW\RI,RZDDQGLVWDNLQJD FODVVRQSODQQLQJOLYDEOHFLWLHVDQGWKDWLVZK\KHDWWHQGHGWRGD\¶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lanning and Zoning Commission October 18, 2018 Page 14 of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µµµµµ+(16&+0,.(;2(2(;;;;;;;;;;;;;0$57,13+2(%(;2(;;;;;;;;;;;;;;3$562160$;;;;;;;;;;;;;;2(;;6,*160$5.;;;;;;;;;;;;;;;;7+(2%$/'-2',(;;;;;;;;;;2(µµµµµ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