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<br />BACKGROUND INFORMATION <br /> <br />History <br />The Planning Commission recommended approval of the Preliminary Development <br />Plan at the October 11, 2004 meeting. The Preliminary Development Plan depicted full <br />development of Block 1 including a restaurant\banquet facility (riverfront), residential <br />condo building (center), and mixed use residential condo building (2nd Street). <br /> <br />Property Ownership <br />Hastings HRA is owner of all property in Block 1. The City and HRA have entered into <br />a master preliminary agreement with Sherman Associates to purchase and develop the <br />land in accordance with the Preliminary Development Plan. <br /> <br />Heart of Hastings Master Plan Classification <br />The property is part of the "Downtown Core Multi-Use District" as designated in the Heart of <br />Hastings Master Plan. The Plan views the area as "primarily a retailing district. However, <br />allowances for residential, office and services are not only historically appropriate but also <br />enhance the vitality and economic viability ofthe downtown Core." The development plan <br />includes both residential and retail uses, consistent with the Master Plan. <br /> <br />Comprehensive Plan Classification <br />The property is guided MXD - Mixed Use Development in the 2020 Comprehensive Plan. <br />The proposed uses are consistent with the Comprehensive Plan. <br /> <br />Zoning Classification <br />The property is currently zoned 1-1, Industrial Park. A rezoning to DC, Downtown Core <br />District is proposed. The DC district allows for a mix of both commercial and residential <br />uses. <br /> <br />Existing Use <br />The property presently contains a mix of vacant commercial buildings and a parking lot <br />