City Council Minutes 2020 08 04 - Laserfiche WebLink

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City Council Meeting Minutes August 4, 2020 Page 4 of 12 He reviewed the proposed GDP in more detail noting the various parcels and what is proposed for each one. Parcel A is proposed for a senior living development and other uses; Parcel B is a single -user corporate campus; Parcels C, D, and E are a mix of commercial and residential uses; and Parcel F is Open Space and a buffer area. He noted the development plans shown and modeled are all conceptual at this time. There would also be concurrency requirements regarding the senior residential and corporate campus development and that a certain amount of sales tax generating retail space and additional commercial be built before the non -senior residential units can be built. Director Zuccaro reviewed the height proposal in each subarea. The tallest buildings would be in the east and shorter on the west. He noted the topography of the site affects how the buildings transition across the site. He reviewed the street proposal including an extension of Campus Drive. He reviewed the trail plan including bike lanes on streets, multi -use paths, and regional trail connections. He noted the public land dedication requirement is approximately 42 acres and 59.6 are provided. There are approximately nine acres of public use easements proposed and the applicant is asking this dedication meet any future PUD requirements not related to waivers. The Open Space, Parks, and Recreation Boards have all reviewed these plans and support the concept as proposed. Director Zuccaro reviewed a height and density analysis but noted this is conceptual and is only modeling what could be allowed at full built out. He noted a market analysis was provided by the applicant. This is likely to be a 20-year project and much could change over that time. The analysis reviews market trends and potential for the proposed land uses and phasing. It projects the addition of 8,440 jobs at full buildout and projects a regional housing demand impact of 6,189 units. He reviewed the traffic and mobility study noting where trips are anticipated. The study estimates 27,274 new daily vehicle trips and recommends short and long-term improvements that will be needed including intersection improvements. He noted the US 36 interchange at the Northwest Parkway fails in 2030 without improvements. Director Zuccaro noted staff had a custom fiscal analysis completed. The fiscal analysis is a tool we use in the development review process to assess potential fiscal impact to the City. The analysis is a snapshot based on current budget and revenue structure for the City, and shows what the potential fiscal balance is for a development to maintain current level of service in support of the new development. Overall fiscal review is a balance between three factors: non-residential which provides the majority of city revenues; municipal services and amenities that the revenues pay for which lead to attracting residents and maintaining quality of life; and the third leg is residential development that generates spending and employment.