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in South Everett. The request was for a zoning change from Ml to C-1 (General <br />Commercial). <br />The onus of the study was not that residential uses were not going to be in demand2, but <br />rather that there will be ongoing demand for Office and Industrial Parks land designation. It <br />is our opinion that there will be demand for residential uses in the South Everett market, but <br />we also agree that demand for industrially zoned land will revive over time, and that the <br />significant ongoing revenue streams that are associated with the existing land uses warrant <br />retaining the current zoning. <br />In conclusion, we reviewed the analysis prepared by Property Counselors and find that their <br />conclusions are palpable, and that their methodologies, assuming that the data points used <br />are accurate, are appropriate. <br />We concur with the premise that revenue streams from current zoning applications are <br />relevant and that protection of the current zoning conforms to Countywide zoning policies. <br />Sincerely yours, <br />GARDNER ECONOMICS <br />Matthew_ Gardi%er <br />Principal <br />2 For disclosure, Gardner Economics prepared an analysis for Cemex in December of 2007. <br />REVIEW OF A SOUTH EVERETT INDUSTRIAL ANALYSIS <br />FOR CAMPBELL SOUP COMPANY PAGF. 3 <br />