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DRAFT some of the residential buildings were treated, for example, Archstone was treated differently than Verona: what the thinking was regarding why the cap was increased in one and was not increased in the other. Mr. Dolan replied that he does not think he can accurately report on that. He noted that Mr. Paxson was around and might have some insight into that. Commissioner Posson disclosed that he had some discussion with Mr. Paxson about the history of the PUD's and the transportation limitations. Commissioners Ritter and Allen indicated that they did as well. Chair Pearce stated that she talks to Mr. Paxson all the time, and Commissioner Olson stated that he also talked to Mr. Paxson, generally on this subject, over a year ago. THE PUBLIC HEARING WAS OPENED. James Paxson, General Manager of Hacienda Business Park, stated that Hacienda supports the staff report and the staff recommendation and concurs with all the findings staff had made. He indicated that there are three points in particular that he wanted to get to before he tries to answer Commissioner Allen's questions, which is going to be mostly conjecture on his part but he thinks he can address at least some of it. Mr. Paxson stated that first, it is really important to underscore the competitiveness issue. He emphasized that this is really a very competitive region and it is extremely important that the City and Hacienda do whatever it can to position the Park so as it can begin to experience the recovery that the region is in right now and take advantage of the opportunities that come up. He indicated that this does a lot toward helping to position Hacienda and the City to be able to capitalize on those opportunities. Mr. Paxson continued that the second thing that he really wants to emphasize was kind of brought up in the report and which he also kind of touched in his letter that is in the Commission's packet: there is nowhere else in the City where the City has the opportunity to simultaneously meet several really important objectives that are outlined in the General Plan — sustainability, environmental objectives, economic objectives, and place- making objectives. He noted that all of those things happen in Hacienda in a way that cannot happen elsewhere. Mr. Paxson stated that the third really important thing is kind of an offshoot of the second. He noted that nowhere else in the City has it already been paid for and is continuing to be paid for other than in Hacienda. He indicated that the Park was bonded to the tune of about $5.50 per square foot of indebtedness to build all of the improvements that are there now and beyond. He noted that Hacienda had built way more than the Park and, as staff has pointed out, the capacity built in the Park was for something much larger than what it is permitted to build today; in addition, Hacienda will maintain that until 2039. He noted that, for example and to give an idea, just in straight DRAFT EXCERPT: PLANNING COMMISSION MINUTES, 8/28/2013 Page 5 of 11