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COMMUNITY DEVELOPMENT MEMORANDUM <br /> NO. 94-12 <br /> February 3, 1994 <br /> TO: Mayor Erik C. Brechnitz and City Council <br /> Members <br /> � <br /> FROM: James C. Ba�11, Jr. , City Manager <br /> George C. Weaver, Community Development Director <br /> Bruce McNabb, Public Works Director <br /> SUBJECT: Spring Creek Sewer <br /> We have discussed the proposed Spring Creek Sewer Project with <br /> area developers and a representative from the Economic <br /> Development Foundation. Each indicated that land cost is a <br /> relatively small component of the total commercial development <br /> cost. If a retailer feels a market is present at a location, <br /> small differences in cost per acre are not significant. <br /> Conversely, a retailer will not trade location for price. In <br /> other words, low land costs would not be an inducement if the <br /> developer's perception is that the market is deficient in some <br /> way. <br /> Most of the developers indicated some reservation toward the <br /> south side area at the present time for commercial development. <br /> However, all acknowledged that if a significant retailer would <br /> pioneer in this area, others would most certainly follow. <br /> Therefore, having a developable site would be a requisite in <br /> attracting the pioneer. One developer feels that the area is <br /> ready now for additional commercial development. That view is <br /> based on the belief there is a substantial market in outlying <br /> communities to the south which could be captured by a south <br /> commercial development. <br /> The Economic Development Foundation representative indicated lake <br /> development will play a significant role in altering commercial <br /> patterns. The speed with which commercial development associated <br /> with the lake occurs will directly influence the rate of south <br /> side commercial growth. <br /> Two developers commented on residential development. One <br /> suggested that residential development will continue at the <br /> current rate on the south side. It was his opinion that the <br /> current rate of residential development will not significantly <br />