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8.Granting such credit is reasonable given the impact of this taking on the developabiiity of the <br />property. Further, because the credit that would be granted for each newly created 5-acre <br />building site would be approximately 1/4 acre or less, the new lots would have 95% of their <br />area outside the easement, and this 5% "variance" has little impact on the future use of each <br />5-acre lot, as compared to the major impact if 1/4 acre of a 1 acre or 1/2 acre lot was in right- <br />of-way. <br />9.The granting of this credit is unique to to this property because it involves the settlement of <br />litigation in regards to a right-of-way condemnation, which is not the case in most other <br />properties in this or other zoning districts in Orono. <br />CONCLUSION, STATEMENT OF INTENT AND CONDITIONS <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of <br />Orono hereby declares its intent as follows: <br />1.The City Council intends to enter into a formal agreement with the Hannings and their heirs, <br />successors and assigns, which agreement will incorporate the following: <br />a.A future subdivision of the property undertaken while the 5-acre minimum lot size <br />is applicable to the property, shall be granted dry buildable area credit for the dry <br />buildable land taken through condemnation for County highway construction <br />purposes. <br />b.The dry-buildable area creditable toward a future lot shall be an amount equal to the <br />dry-bui!dable area of taken right-of-way that directly abuts said future lot and that lies <br />dircctlv between Co. Rd. 6 and said lot. <br />The intent of this agreement is that the property ow ners w ill be in no better and no worse of <br />a position for accomplishing a reasonable subdivision of their property than they were prior <br />to the right-of-way taking. <br />Page 3 of 4