South Sprecher Road, Madison, WI

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August 14, 2018 Letter of Intent Land Use Application Development Name: Former Rodefeld Farm South Sprecher Road, Madison, WI Project Summary The proposed project consists of two separate elements at this date: (1) The subdivision of a 9.7-acre tract into three new parcels and eventual land dedication for rights-of-way (a completed CSM application is included as part of this overall land use application); (2) The rezoning of the three newly-created parcels from agricultural zoning to residential and commercial zoning districts, and This proposal is intended to align with the City s comprehensive planning process and aims to deliver the land uses and community development patterns envisioned in the recently adopted City of Madison 2018 Comprehensive Plan updates. Legal Description of the Subject Property The Southwest ¼ of the Northwest ¼ of Section 12, Township 7 North, Range 10 East, Town of Blooming Grove, Dane County, Wisconsin. EXCEPT Two (2) parcels in the Southeast corner thereof as described in Warranty Deed recorded in Volume 580 of Deeds on page 227, as Document No. 836707 and Warranty Deed recorded July 21, 1964 as Document No. 1107521. ALSO EXCEPT Land in Warranty Deed recorded as Document No. 3315138. ALSO EXCEPTING Lands annexed to the City of Madison in Document No(s). 2749600, 3006870, and 3206327. 1. Project Team Applicant/Developer: Land Owner: Hovde Properties Attention: Victor Villacrez 122 West Washington Avenue, Suite 350 Madison, Wisconsin 53703 Phone: (608) 255-5175 Email: vvillacrez@hovdeproperties.com CGRD, LLC Attention: Victor Villacrez 122 West Washington Avenue, Suite 350 Madison, Wisconsin 53703

Rodefeld CSM & Rezoning Page 2 Civil Engineer/Site Design: Planning: Snyder & Associates, Inc. Attention: Mike Calkins 5010 Voges Road Madison, Wisconsin 53718 Phone: (608) 838-0444 ext. 223 Email: mcalkins@snyder-associates.com Vandewalle & Associates Attention: Brian Munson 120 East Lakeside Street Madison, Wisconsin 53715 Phone: (608) 255-3988 Email: bmunson@vandewalle.com 2. Existing Conditions The Rodefeld site consists of a former farm and agricultural lands. The former farm buildings have already been razed and the site is currently unimproved but remains in agricultural use. 3. Project Schedule 2018-2020 4. Proposed Uses This proposal includes the division of an approximately 9.7-acre irregularly-shaped tract of land into three new parcels through Certified Survey Map. The proposed division of land is as follows: Parcel 1: 130,155 SF (2.99 acres) Parcel 2: 82,292 SF (1.89 acres) Parcel 3: 65,956 SF (1.51 acres) TOTAL 278,403 SF (6.39 acres) The remaining 144,370 SF (3.31 Acres +/-) within the 9.7-acre tract shall be dedicated to the public for roadway purposes upon issuance of all necessary approvals and acceptance by municipal authorities. It is contemplated that future redevelopment of the northern of the three parcels (Parcel 1) will consist of a multi-family residential use while the two commercial properties to be created on the southern portion of the site (Parcels 2 and 3) may consist of commercial uses intended to serve the residents within the area of the site, such as a financial institution, gas station/convenience store, or other small retail/service establishment permitted by the City of Madison Zoning Code, as amended. The proposed development will also include the extension of Kilpatrick Lane to the east, across the site, which will serve the three new parcels, as well as the construction of a portion of the new Sprecher Road along the eastern portion of the site. The future full construction of this portion of the new Sprecher Road will serve as part of the City s long-planned relocation of Sprecher Road to the east.

Rodefeld CSM & Rezoning Page 3 5. Hours of Operation No specific buildings with tenants/operating businesses are proposed at this time. Future site development will adhere to the City of Madison Zoning Code. 6. Proposed Residential Building Square Footage Building square footage will be determined as part of future submittals. 7. Number of Dwelling Units Future residential development may create approximately 60-75 dwelling units on site (approx. 20-25 Du/Acre) 8. Auto and Bike Parking Stalls Parking will be determined as part of future submittals. 9. Lot Data Zoning: Residential Parcel Commercial Parcels Current Zoning Agricultural (A) Agricultural (A) Requested Zoning TR-U1 Traditional Residential - Urban Commercial Corridor-Transitional (CC-T) District The City s 2018 Comprehensive Plan updates already contemplate the division of land and the rezoning of the subject property for non-agricultural residential and commercial uses, which are shown on the image on the following page. Further, the Sprecher Neighborhood Development Plan also envisions the site for low-to-medium density residential use The triangular northern portion of the subject property, referenced herein as Parcel 1, is already designated for Medium-Density Residential (MR) land use in the updated Comprehensive Plan. The Plan envisions this area accommodating housing densities up to 90 units per acre and buildings up to five stories in height. The southern portion of the subject property comprising Parcels 2 and 3 is envisioned as Neighborhood Mixed Use (NMU) land use, which also limits the height of buildings to 2-4 stories and facilitates commercial land uses intended to serve the surrounding area. In order to bridge the gap from the site s former agricultural use to a future mix of residential and commercial uses, our team is requesting the Traditional Residential Urban (TR-U1) zoning district for Parcel 1 and a Commercial Corridor- Transitional (CC-T) zoning designation for Parcels 2 and 3. The City s TR-U Districts were established to stabilize, protect and encourage the essential characteristics of high-density residential areas and to accommodate a full range of life-cycle housing. The TR-U1 district is appropriate for Parcel 1 as it is the lowest intensity TR-U district and its dimensional, density and permitted/conditional use regulations are well in line with the Medium-Density Residential (MR) land use in the 2018 Comprehensive Plan. Designating Parcel 1 as TR-U1 not only helps meet this part of the subject property meet its long-range planning intent (with respect to both the Comprehensive Plan and the Sprecher Neighborhood Plan) but also will also integrate into a primarily single-family and very low density multi-family residential, but evolving, part of the City.

Rodefeld CSM & Rezoning Page 4 The 2018 Comprehensive Plan identifies the intersection of Sprecher Road and Cottage Grove Road as an activity center for the area that will be supported by commercial development on these parcels. The CC-T District was established to recognize the many commercial corridors within the City that remain largely auto-oriented, and to encourage their transformation into mixed-use corridors that are equally conducive to pedestrian, bicycle, transit and motor vehicle activity. The CC-T designation is appropriate for the site because it is not overly intense with respect to potential commercial uses, provides appropriate flexibility for permitted and conditional mixed-use and commercial activity center development, helps maintain the viability of existing residential uses located along the Sprecher and Cottage Grove Road corridors, and generally facilitates the neighborhood-style mixed use vision within the City s Comprehensive Plan. Parcel 1 MR Medium Residential Parcels 2 and 3 NMU Neighborhood Mixed Use 10. Usable Open Space Usable open space will be determined as part of future submittals. 11. Land Value: The current assessed value of the land is $1,000,000. 12. Estimated Project Cost: It is estimated that road and infrastructure improvements associated with the future extension of Kilpatrick Road and a limited portion of the new Sprecher Road may exceed $850,000.

Rodefeld CSM & Rezoning Page 5 13. Number of Construction or Full Time Equivalent Jobs Created: No specific development project is proposed at this time. However, future construction of road and infrastructure improvements and subsequent redevelopment of the three parcels may result in a number of part-time and full-time positions in construction as well as positions associated with future residential and commercial land uses on site. 14. Public Subsidy Requested: The development proposal includes the dedication of lands and the construction of a selected portion of long-planned public roadway infrastructure. Discussion of a potential TIF district to assist the City of Madison in the development of the Sprecher road realignment/extension may be pursued.