Planning Commission Agenda and Packet 2021 12 09

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Planning Commission Meeting Minutes November 11, 2021 Page 6 of 12 restaurant instead of a strip mall. They wanted more inviting designs and they had not gotten any feedback or engagement from the developer on the restaurant piece. Jeff Gass, 784 Meadowlark Lane in Steel Ranch, thanked the Commission for their multiple reviews and stated that Mass Equities had been very forthcoming with the community and responded to what they thought Council wanted. He did not understand the age restriction requirement because once they got to the PUD because that's when the residents' concerns about the product would be addressed. Since the Commission had approved 15,000 square feet and up to 59 homes to be built, he did not see why there was any reason that the Commission would not approve the changes. He noted that empty storefronts did not produce any tax revenue and they wanted quality development in the area so the limited commercial made sense and he was looking forward to the presentation of the PUD once this GDP Amendment was approved. Brauneis offer the applicant the opportunity to address the public comment and share any additional considerations for the Commission. Bair stated that they were active in the commercial market and they had been talking to operators and brokers about the commercial space because that was something they wanted to understand if they were going to increase the commercial. They thought the 15,000 was doable and viable and they could deliver the types of tenants that the community was asking for and was reflected in the concept plan. Brauneis asked for a response to the 55+ design elements. Bair replied that the elements were fine if that was what the market could support and what the community wanted. He stated that that would be part of the PUD process. Diehl asked for elaboration on the return on investment from residential units versus commercial. He assumed that right now residential was lucrative compared to commercial. Bair replied that it was a tough question and would depend on factors like location and type of commercial tenant. He stated that he generally disagreed, noting that there were pockets where commercial drove a higher ROI but it was hard to make that statement ahead of time since tenants were the biggest driver for commercial and markets changed. Williams stated that she thought they would own the commercial and rent it out to make money but it sounded like there were multiple options. Howe stated that the Mayor said she would like to require the affordable housing versus allowing a fee -in -lieu. Bair stated that he was already required to comply with the inclusive housing ordinance and he would like to maintain flexibility with the fee -in -lieu as an option.