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Page 3 of 3 <br /> o The lot lines of the two properties are cleaned up and r�ot"convoluted" as the mortgage company <br /> requested. <br /> o It should be noted that in consulting with locai reai estate experts in our area I learned that <br /> lakeshore and lake side yard has easily a ten to one (10:1) value ratio vs. street side land in the <br /> same area. The proposed land swap is 298 s.f. of lakeshore/lakeside yard for 695 s.f of street side <br /> land. This is a ratio of 2.33 to 1. So as a straight landswap this is not a good deal and the property <br /> at 1090 Wildhurst Trail is not suffering. This land swap works and the city benefits because the <br /> proposed project and improvements to 4480 Forest Lake Landing are good and improve the <br /> neighborhood. <br /> o Both properties remain roughly at the same conformity level before and after the land swap. <br /> • 0-75 Zone. —Both properties had less than 140 feet of lakeshore before the proposed land <br /> swap and the exchange is only two feet. This gives the Larsens something of great value for <br /> the exchange of their land and makes the new lot line clean and simple. <br /> • 75-250 Zone. --The Larsen's property has 46% of hardcover before and after the land swap. <br /> The SchoenzeiYs property has 41% hard cover currently and with the proposed changes in <br /> item#3 has a compliant 25% hard cover after the proposed building is built. <br /> . 250-500 Zone. The Larsen's property currently has 22% hard cover in the in this area and <br /> will have a compliant 25% hardcover after the land swap. The SchoenzeiYs property <br /> currently has 56% hardcover in this area and will have 60% hardcover after the land swap <br /> and the proposed building is built. I believe this level of hard cover is justified by the <br /> documented hardships unique to this property. Further it should be noted that a large portion <br /> of the circular driveway that is in the right-of-way will be removed and replaced by grass in <br /> the proposed project. <br /> 6) I would like to request that the City Engineer complete a preliminary review of the proposed grading in <br /> preparation for the planning commission to approve this project this evening. <br /> S/16/2005 <br />