Revitalization Commission Agenda and Packet 2015 12 15

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necessitate a GDP amendment. Additional zoning information and a copy of the GDP map are attached. Restrictive Covenants The uses on the property are also limited by private restrictive covenants among the owners of the commercial properties bounded by McCaslin, Dillon, Cherry, and Dahlia streets. A copy of the restrictive covenants is attached and those restrictions include: • No general merchandise discount department store other than on Lot 2 (the subject property) • No supermarkets other than on Lot 1. — Other lots can have less than 5,000 sf devoted to retail sale of food for off - premise consumption • Only Lot 2 may have an optical center • Pharmacy only on Lots 1 and 2 • No more than 2 banks, unless banking is incidental to the primary use • Only one fuel station • Only one drive -thru restaurant selling hamburgers or ground beef products • Limited entertainment uses At the time Centennial Valley Investments, LLC purchased the property, the previous owner, Walmart, required an additional restriction limiting uses further to no stores selling a range of merchandise "at a discount" allowed, which is the use for which the site was originally developed. Blighting Factors W- The City Council on May 6, 2014, directed staff to commission a Conditions Survey, a copy of which is attached for reference. The Conditions Survey identified 4 blighting factors on the property that have limited the viability of the property. They are: 1) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness: a. Lot configuration results in former Sam's Club building being narrow and deep with respect to the front entrance, rather than shallow and wide b. Building orientation makes it difficult to partition effectively; resulting spaces would be too narrow and deep for adequate retail layout c. Other non - retail uses that might be compatible with a deep, narrow layout are prohibited 2) Deterioration of site or other improvements: a. Facility is 127,000 square feet with a 600+ car parking lot, requiring significant upkeep expenses b. Currently only used during a small portion of the time by a community church, which does not generate the revenue needed for full maintenance c. Potholes, cracked parking curbs, and other signs of lower maintenance levels are evident 3) Defective or unusual conditions of title rendering the title nonmarketable: 14