HomeMy WebLinkAboutParking Impact Estimates.pptParking Impact Estimates for Option D (very rough estimates)
142 124
156 spaces 135 spaces
23 spaces 20 spaces
0 55 spaces
133 spaces 60 spaces
Assumptions:
9 units to replace fire truck bays; one (in D2) or two (in D1) floors of apartments with same layout as other apt floors.
January 31, 2017
Page 10
Due to increasingly accumulated carrying costs associated with the church property, the
developer has a need to move forward in an expeditious manner. While final details including
precise financial, development, and legal aspects of the project still need to be ironed out, the
developer is seeking strong indication from the City Council of its preferred path forward.
Assuming one of more of the paths forward is acceptable to the City Council it is staff's intent to
begin negotiating a development agreement with the thought that no future Council direction will
be needed until the final approval of that agreement is presented.
In an effort to focus discussion and provide the developer and staff the needed direction, it is
suggested the City Council address the following questions:
If Plan B proves to be the only viable path forward, is the Council comfortable with the
general framework of that concept (100% TIF over 20 years and investing all land sale
proceeds back into the project)?
2. If determined to be viable for the developer, would the City Council prefer the fire station
component be removed from the project and replaced with a residential use? (saving the
City $2.2 million in land sale proceeds and avoiding a future capital project to make the
bays usable)?
3. If determined to be viable for the developer, would the City Council be comfortable
allowing developer retained affordable housing units to be located off-site (potentially
eliminating the need for the reinvestment of any of the $3.3 million in land sale
proceeds)?
4. Would the City Council be supportive of a narrowly tailored code amendment that would
eliminate parking requirements for the residential components of the project in exchange
for the designation of the church as a landmark building? This could drop the financial
gap considerably, allow the city to retain ownership of surface parking, and shorten the
duration of any TIF commitment.