City Council Minutes 2016 11 01 - Laserfiche WebLink

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City Council Meeting Minutes November 1, 2016 Page 4 of 9 Mayor Muckle asked if there was new language in the plan identifying a buffer between existing commercial and residential areas. Planner Robinson stated the language has not changed significantly, but the existing language addresses lowering building heights and creating transition zone standards. Councilmember Loo asked if a market study is in the budget or if that would need additional funding. City Manager Fleming agreed this would require additional funding as it is not currently in the 2017 proposed budget. Councilmember Maloney asked if the changes from the last meeting would really generate an additional 1,700 employees as that seems like a very high number. Planner Robinson stated yes, that is the build out estimate. The Plan would create almost 350,000 s.f. of new space. Councilmember Maloney asked if these assumptions would generate so much additional revenue, it seems very high. Director Zuccaro stated these are the assumptions only, but if the area does build out it should hold true. Director Zuccaro stated the fiscal model shows development potential based on the zoning, but many other factors such as infrastructure, place making, and how attractive the environment will are all needed to draw retail and office uses. Councilmember Maloney asked if based on this information, commercial property is more beneficial to the City than residential. Director Zuccaro stated that is the case based on the model we are using. Mayor Pro Tem Lipton stated we know retail and commercial are fiscally positive to a city, but we don't know if this is market tested and will actually produce robust retail. We have to recognize we can't produce that many shoppers with our current population and this area may not build out like this in 20 years. We have no guarantees. Councilmember Loo asked if there is any interest in completing the market study. Mayor Muckle stated that for him personally a market study won't change his mind right now. He is however, interested in working on "first and final mile" issues in the area. Councilmember Loo stated it was not clear to her what the land use vision currently is for the area. Planner Robinson stated that for the current Plan there are no new residential uses in the area. This is based on direction staff received from the Council at the October 18 meeting. Councilmember Leh stated he would like to see a market study completed to give additional information to verify this plan is moving the City in the right direction, particularly since we are limiting residential growth. Director Zuccaro stated for a plan such as this, market studies aren't usually completed, but it might offer some additional information. Councilmember Leh stated he thinks a study would be worthwhile to add additional information and help understand if these land use numbers are correct.