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SUMMARY: <br />This staff report supplements the original staff report provided during the June 24, 2021 <br />Planning Commission meeting. As discussed during the June 24, 2021 meeting, the <br />applicant amended the proposal to increase the commercial concurrency requirement <br />following publication of the original staff report. This report discusses this change and <br />provides additional Fiscal analysis along with an updated staff recommendation for <br />approval. The Background section remains unchanged. <br />The applicant requests approval of the seventh amendment to the Takoda General <br />Development Plan (GDP), covering the portion of the Takoda development commonly <br />referred to as The Foundry. The amendment would increase the allowed number of <br />dwelling units from 32 to 59, decrease the maximum allowed commercial area from <br />76,055 sf to 15,000 square feet, and reduce the commercial concurrency requirement <br />that requires 14,110 sf of commercial area to be built with the residential development <br />to 5,000 sf. The application also includes a request to amend The Foundry subdivision <br />agreement to strike the provision requiring 24 units for occupancy by persons 55 and <br />older. <br />BACKGROUND: <br />The City approved the current Foundry Planned Unit Development (PUD), subdivision <br />plat and a General Development <br />Plan (GDP) Amendment on Figi <br />January 16, 2016. The <br />development included a rezoning <br />of the 5.82-acre property from <br />commercial (PCZD-C) to mixed <br />commercial and residential <br />(PCZD-C/R), and approved a <br />PUD for 31,960 sf of commercial <br />development in two buildings <br />(Buildings E and F), and 32 <br />residential condominium units <br />(24 restricted to senior housing) <br />in four, eight-plex buildings <br />(Buildings A through D). The two <br />commercial buildings include a <br />17,850 sf in -line commercial <br />building (Building E) and a <br />14,110 sf flex commercial <br />building (Building F). The <br />Foundry is part of the Takoda <br />GDP, and this area was originally <br />planned as a commercial hub for <br />the Takoda development, and as <br />a result, the PUD required <br />{� MASTER PLAN s POW <br />L <br />4 R 100 20.0 3W 40RTH <br />Foundry GDP Amendment Page 2 of 12 <br />PC — August 12, 2021 <br />11 <br />