City Council Agenda and Packet 2012 12 04

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City Council Meeting Minutes November 5, 2012 Page 12 of 15 $460,000. The City's model suggests the annual revenue from the development will exceed annual expenditures by approximately $111,000. The model also suggests the project will contribute $134,000 annually to historic preservation and open space. If the project generates these revenues, it would take two years of operation to offset the initial negative fiscal impact. Special Review Use Assessment - Louisville Municipal Code § 17.40.100.A lists five criteria to be considered by the Planning Commission in reviewing a Special Review Use application. The Planning Commission is authorized to place conditions on its recommendation of approval, if the Commission concludes they are necessary to comply with all of the criteria. Review Use — Staff finds the criterion has been met. Staff recommended City Council approve Resolution 77, Series 2012, a Special Review Use (SRU) Permit and Preliminary Planned Unit Development (PUD) associated with the redevelopment of the Safeway Site, at 707 East South Boulder Road with three conditions: 1. The applicant provides the City an updated and signed shared parking and access agreement for the shopping center with all affected parties at time of Final PUD submittal; 2. The applicant creates prior to Final PUD submittal a shared parking management program that will ensure the residential portion of the parking can achieve a 2- spaces per unit ratio between the hours of 8:00 PM and 8:00 AM. 3. The applicant resolves shadowing concerns with existing surrounding structures prior to Final PUD submittal. The recommendation was based on staff's findings the project meets the criteria for approving a special review use and preliminary development plan, and the Planning Commission's resolution recommending approval of the project. The waivers requested by the applicant are warranted by the design and amenities incorporated in the development plan. COUNCIL COMMENTS Council member Loo inquired whether the Business Assistance Package (BAP) was a part of the economic analysis. Staff confirmed the BAP was not part of the economic analysis. She stated she was not aware of a BAP connected with a Special Review Use request. City Attorney Light stated the Business Assistance Package was a stand- alone package and is not legally attached to the land use matter. Mayor Muckle requested the staff's presentation be included in the public record. APPLICANT PRESENTATION 24