HomeMy WebLinkAboutA008 - Council Action Form dated October 26, 1999 r
ITEM # 0Q
DATE 10/26/99
COUNCIL ACTION FORM
SUBJECT: RESOLUTION APPROVING THE URBAN REVITALIZATION PLAN FOR
AREA 123 BEACH AVENUE.
ACTION FORM SUMMARY: The City Council is being asked to approve the Urban
Revitalization Plan the staff was directed to prepare for 123 Beach Avenue.
Staff is recommending approval.
BACKGROUND:
On September 14, 1999 the City Council determined that the request for designation of an
urban revitalization area for 123 Beach Avenue met the Criteria for Eligibility. The Required
Conditions the project met was that it was an Underutilized Condition (Properties that are
vacant in an in-fill area and were previously developed and have had the principal structure
removed). Under the Optional Conditions the project met the requirement — Structured
Parking (A minimum of 70% of the total required parking is provided in a structure.). The
project has 85% of required parking in a structure.
City Council then directed staff to prepare an urban revitalization plan for 123 Beach
Avenue and to set a date of public hearing for October 26, 1999 to establish the Urban
Revitalization Area.
City staff has prepared an Urban Revitalization Plan for Area 123 Beach Avenue. The
following items are included in the Urban Revitalization Plan:
The address of 123 Beach Avenue is a consolidation of 119, 121, 125 Beach Avenue
and 2013, 2017 Sunset Drive.
The total assessed valuation of land and buildings on these properties totals
$343,800.
It is expected that the value added will exceed the five- (5)% increase required in
actual value.
The owner of the property in the district is JEMFOUR NINE, INC.
The zoning is R-4, which is High Density Residential.
There are no enhancements to city services needed because of this project.
The project consists of a 31-unit condominium with structured parking.
There will be no displacement of any persons and thus no relocation benefits
provided.
For further detail for the Urban Revitalization Plan for Area 123 Beach Avenue see the
attached plan.
City staff is recommending approval of this action.
ALTERNATIVES:
1. The City Council can approve the Urban Revitalization Plan for 123 Beach Avenue.
2. The City Council can deny the Urban Revitalization Plan for 123 Beach Avenue.
3. The City Council can direct staff to revise the Urban Revitalization Plan for 123 Beach
Avenue.
MANAGER'S RECOMMENDED ACTION:
It is the recommendation of the City Manager that the City Council adopt Alternative #1 .
This action will approve the Urban Revitalization Plan for Area 123 Beach Avenue and
allow for tax abatement for a redevelopment in a high density residential zoned area which
will increase the density and provide parking for the development in a parking structure.
COUNCIL ACTION:
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URBAN REVITALIZATION PLAN
AREA 123 BEACH AVENUE
1. Property Addresses: (A)* 119 Beach Avenue, (B) 121 Beach Avenue, (C) 125 Beach Avenue, (D) 2013
Sunset Drive,(E)2017 Sunset Drive
2. Legal Description: LOTS 1, 2, AND 3 OF BLOCK 1, COLLEGE HEIGHTS SECOND ADDITION TO
AMES, STORY COUNTY, IOWA; AND THE NORTH 60' OF THE EAST 143' OF LOT 11 IN THE
NORTHWEST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 83 NORTH RANGE 24
WEST OF THE 5T" P.M., IOWA; AND BEGINNING AT THE SOUTHEAST CORNER OF LOT 10 IN
THE NORTHEAST 1/4 OF THE NORTHEAST 1/4 OF SECTION 9, TOWNSHIP 83 NORTH RANGE 24
WEST OF THE 5T11 P.M., IOWA; THENCE THE NORTH 55'; THE WEST 129.55'; THENCE THE
SOUTH 55'; THENCE THE EAST 129.25 FEET TO THE PLACE OF BEGINNING, SUBJECT TO
EASEMENTS OF RECORD.
3. Assessed Valuation:
Land: (A)$35,200 Buildings: (A)$37,900
(B)$40,500 (B)NONE
(C)$41,800 (C)NONE
(D)$31,200 (D)$77,200
(E)$31,000 (E)$49,000
4. Owners:
Name: (A)JEMFOUR NINE,INC Address: 5020 ONTARIO STREET,AMES,IOWA
Name: (B)JEMFOUR NINE,INC Address: 5020 ONTARIO STREET,AMES, IOWA
Name: (C)JEMFOUR NINE,INC Address: 5020 ONTARIO STREET,AMES,IOWA
Name: (D)JEMFOUR NINE,INC Address: 5020 ONTARIO STREET,AMES,IOWA
Name: (E)JEMFOUR NINE,INC Address: 5020 ONTARIO STREET,AMES,IOWA
5. Zoning District and Classification: R-4(High-Density Residential District)
6. City Services: No enhancements are planned.
7. Applicability of Revitalization Benefits: Revitalization shall be applicable only to that subset of
eligible property within the residential classification that takes the form of a 31-unit condominium
with structured parking at 123 Beach Avenue.
8. Duration: Indefinite
9. Relocation: The plan does not require the displacement of any persons, and there will be no
relocation benefits provided.
10. Percent Increase in Value Required: The value-added requirement is a five (5) percent increase in
actual value.
11. Federal, State or Private Grant/Loan Programs for Residential Improvements: There are no grants or
loans.
12. Existing Land Use: (A)** R-50, 1-1/2 story single-family home; (B) C-10, Vacant Land; (C) C-10,
Vacant Land; (D) R-50, 1-1/2 story single-family home; (E) R-70 2-story single-family home
13. Geocode: (A) 0909226070,(B) 0909226080,(C) 0909226090, (D) 0909226100, (E) 0909226110
*Letters(A),(B),etc.refer to that specific property throughout the document.
**(C-10,R-70,etc.)refer to the City Assessor's land use codes.
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