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(Planned Unit Development — Central - Commercial) District in 1985 along with the adjacent Hopyard Village Shopping Center. Since the bank use existed at the time of the rezoning, other uses were not established for the bank site. The bank closed in December 2003 (last occupied by US Bank) and the property has been vacant since that time. Goble Properties, who owns the adjacent Hopyard Village Shopping Center, purchased the property in 2004. They wish to demolish the vacant bank building and related site improvements and construct a new commercial building. Since the property is zoned PUD, PUD development plan approval is required to demolish the existing building and construct the new building and related site improvements. In addition, a PUD major modification is required to establish commercial uses for the site. PUD major modification and development plan applications are subject to review and approval by the City Council, following recommendation on the plan by the Planning Commission. The Planning Commission's recommendation on the proposed PUD modification and development plan will be forwarded to the City Council for review and final decision. II. SITE DESCRIPTION The subject property, measuring approximately 11,669 square feet in area, is located on Valley Avenue near Hopyard Road (please refer to the attached location map). The site contains the 500- square -foot drive - through bank building with four drive - through lanes, a three -space parking lot, and ornamental landscaping. A six -foot tall masonry wall is located along most of the rear property line. Access to the site is provided by two driveways off Valley Avenue; the westernmost driveway is shared with the Hopyard Village Shopping Center. The site slopes up slightly from Valley Avenue, but otherwise is relatively flat. Existing Bank Building Rear of Site Page - 2