City Council Minutes 2005 12 06 - Laserfiche WebLink

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City Council Meeting Minutes December 6, 2005 Page 8 of 16 Mayor Pro T em Brown requested the City newsletter post the provisions of Ordinance No. 1481, Series 2005 in the next edition. RESOLUTION No. 53, SERIES 2005 - A RESOLUTION APPROVING AN AMENDMENT TO THE CENTENNIAL VALLEY GENERAL DEVELOPMENT PLAN AND ASSOCIATED AGREEMENT (7TH AMENDMENT TO THE AMENDED AND RESTATED DEVELOPMENT AGREEMENT) FOR CENTENNIAL VALLEY Mayor Sisk requested a Staff presentation. Planning Director Paul Wood reported the Centennial Valley General Development Plan (GDP) is a Planned Community zone district covering approximately 882 acres on both sides of McCaslin Boulevard. The GDP designates permitted land uses and densities. The GDP was approved in the 1980s with Homart Development Corporation as the master developer. Koelbel and Company acquired Homart's remaining vacant land in the mid-1990s. The GDP and associated agreements have been amended several times. The current application for an amendment to the GDP and associated development agreements applies to a property located at 410 Centennial Parkway, formerly the State Farm Automobile Insurance claims center. The building is currently vacant and Koelbel and Company have a contract to purchase the property. They have petitioned the City for a GDP amendment to modify the scope of permitted uses from an office and research designation to a broader commercial retail land use designation. The existing GDP and the associated Development Agreement established a maximum total amount of buildable area for commercial land uses, as well as a total number of residential units. For retail commercial uses, the maximum allotment was established as 515,000 SF. That cap on development area was also formalized in an "Interchange Agreement" which involved the City, the Developer and the Colorado Department of Transportation. Koelbel proposes to reallocate some of the authorized retail density from Parcel L 1 (Lowes, 1 st National, Carrabba's, Chili's, etc.) to this parcel, designated as Parcel G1 on the proposed amended GDP. They are not requesting an increase in the total amount of retail building area approved in previous agreements (515,000 SF). Comprehensive Plan Review: This rezoning application does request a change in land use, as designated on an approved GDP. The City's 2005 Citywide Comprehensive Plan Framework Plan Map designates this parcel with a Community Commercial land use, which allows for a broad range of community serving commercial land uses.