City Council Minutes 2017 02 07 - Laserfiche WebLink

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City Council Meeting Minutes February 7, 2017 Page 6 of 15 Three-story buildings are allowed in this area as a use by nght currently, but a residential use in this area of the Plan would require special review approval by the City Council. Allowing for TOD on the West Side of McCaslin Boulevard is a change from the 2013 Comprehensive Plan and would be an update to the existing Plan as proposed in December. The proposed policy statement is. The City supports the existing retail in this area. However, should redevelopment occur due to changes in market conditions, then the City recognizes that the McCaslln Station area provides a unique opportunity for future redevelopment centered on pedestrian -oriented, compact transit oriented development with a mix of uses that would activate the area and increase the fiscal success of the McCaslin corndor. In order to encourage a more active, pedestrian friendly environment around McCaslin Station, the City supports a mix of uses that may include residential uses. Any future development must also continue to provide strong economic and fiscal benefits. Any proposed TOD proposed for this area would be judged against this policy statement Director Zuccaro reviewed the fiscal analysis of the Small Area Plan. Theoretically, over a twenty-year period including 200 units in the TOD area reduces the net positive impact to the City as it removes commercial and retail from that area He noted there are some discrepancies in the fiscal model staff is trying to clarify He stated the Plan could be put on hold until this discrepancy is cleared up if the Council would like to do so Director Zucarro asked Council to review the changes to the Plan as presented tonight and give direction on next steps. Councilmember Leh asked if there are any downsides or risks associated with Transit Oriented Development. Director Zuccaro stated the fiscal impact could be negative if you have high vacancies and poor design. The City would need to make sure any proposed development for that area is a good mix of uses and has a good design to be successful. Councilmember Maloney asked what the benefit is to the City if Centennial Parkway is reduced to two lanes from four. Director Zuccaro stated the traffic model shows the four lanes are not needed even when the area builds out. The new design provides a better pedestrian expenence, slows traffic, and creates parking.