City Council Agenda and Packet 2015 09 01

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SUBJECT: 550 SOUTH MCCASLIN BLVD. URBAN RENEWAL PLAN DATE: SEPTEMBER 1, 2015 PAGE 12 OF 13 activities of the LRC generally, but was first entered into in conjunction with the adoption of the Highway 42 Urban Renewal Plan and some provisions are tied to provisions of that plan. Therefore, staff proposes amendments to the current Cooperation Agreement, as follows: 1) Section 5.c and 5.d would be revised to confirm City Council approval is required for any redevelopment agreement or for any sales tax TIF under any urban renewal plan. The current language is tied to the Highway 42 Plan. 2) Section 10 would be revised to clarify that provisions of the section — regarding continuing cooperation— apply to any urban renewal plan approved by City Council. 3) Section 16 would be amended to reflect that organizational documents (LRC Bylaws) have been revised; the Mayor is a member of the LRC. 4) Section 4.a would be revised to update the Costs and Expenses balance. Attached is a revised Cooperation Agreement proposed for Council approval. The attachment shows changes to the current Cooperation Agreement in redline format. Options The following are options /actions /routes that City Council has available to address the continued vacancy at 550 S. McCaslin. 1) Encourage a retail use by addressing the blighting factors present on the property through the Urban Renewal Plan. 2) Consider a rezoning of the property to allow for a wider range of uses beyond what is currently allowed. Under the City Code, rezonings can be initiated by the owner or the Planning Commission or City Council. While a rezoning is identified here as an option for the site, rezonings are subject to separate public hearing procedures and City Council should not discuss the substance or merits of a rezoning as part of this urban renewal plan agenda item. 3) Continue to encourage private parties to independently identify a use for the existing building that meets the zoning and private restrictive covenants, either in their current form or though covenant changes agreed on by the private owners. RECOMMENDATION: City Council conduct a public hearing on the proposed 550 South McCaslin Urban Renewal Plan. Staff recommends Resolution No. 58, Series 2015, approving the Urban Renewal Plan. Staff recommends Resolution No. 59, Series 2015 approving an Amended and Restated City -LRC Cooperation Agreement. COUNCIL COMMUNICATION 60