HomeMy WebLinkAboutA014 - Council Action Form dated October 10, 2000 ITEM # 3 a4
DATE 10/10/00
COUNCIL ACTION FORM
SUBJECT: MOTION DIRECTING STAFF TO PREPARE AN URBAN REVITALIZATION
PLAN FOR THE SOMERSET SUBDIVISION AND A RESOLUTION SETTING A DATE
OF PUBLIC HEARING FOR NOVEMBER 28, 2000 FOR FIRST READING OF AN
ORDINANCE ESTABLISHING THE SOMERSET URBAN REVITALIZATION AREA, AND
APPROVING THE REVITALIZATION PLAN FOR THAT NEW AREA.
ACTION FORM SUMMARY: City Council is being asked to direct staff to develop an
Urban Revitalization Plan for the Somerset Subdivision. The Plan will allow future
residential and retail commercial construction, during the next three years, to be eligible
for a 3-year, 100% tax abatement program. The City Council also needs to set a date of
public hearing for November 28, 2000 for the first reading of the ordinance establishing the
Somerset Urban Revitalization Area.
Approval of this action is recommended.
BACKGROUND:
On September 26, 2000 the City Council moved to designate a new Urban Revitalization
Area in the Somerset Subdivision where a 3-year, 100% tax abatement would be available
for future residential and retail commercial construction, over the next three years; and to
add that benefit to the Urban Revitalization Area Plan for the already designated Urban
Revitalization Area #7.
An Urban Revitalization Plan needs to be prepared by staff outlining the goals and
concepts of the proposed Somerset Urban Revitalization Area, including the stipulations
stated at the City Council Meeting of September 26, 2000. The Urban Revitalization Plan
will need to be approved by the City Council after a public hearing at least 30 days from
the published notice of the hearing. A date of November 28, 2000 has been determined
to be the appropriate date.
The proposed Somerset Urban Revitalization Area designation is in addition to the existing
Urban Revitalization Area #7 located in the Somerset commercial area. The Urban
Revitalization Area #7 allows for tax abatement for three specific uses: a neighborhood
scale grocery, a neighborhood scale sit-down restaurant, and any retail use that has a
residential dwelling unit(s) on the second floor that is rented to a tenant of low or moderate
income, as established by the Department of Housing and Urban Development for Story
County. Urban Revitalization Area #7 is eligible for the usual three different tax abatement
schedules. There is no expiration date on Urban Revitalization Area #7. The Urban
Revitalization Area Plan for Urban Revitalization Area #7 will be amended by separate
proceedings to make the 3-year, 100% abatement for residential and retail/commercial
construction available for that area also over just the next three years.
Staff is recommending approval of these actions.
ALTERNATIVES:
1. The City Council can approve the motion to direct staff to prepare an Urban
Revitalization Plan for the Somerset Subdivision and a resolution to set a date of
public hearing for November 28, 2000, for the first reading of an ordinance
establishing the Somerset Urban Revitalization Area.
2. The City Council can deny approval of the motion to direct staff to prepare an Urban
Revitalization Plan for the Somerset Subdivision and a resolution to set a date of
public hearing for November 28, 2000, for the first reading of an ordinance
establishing the Somerset Urban Revitalization Area.
3. The City Council can refer this request back to staff and/or the applicant for additional
information.
RECOMMENDED ACTION: "
It is the recommendation of the City Manager that the City Council approve Alternative #1.
This action will direct City staff to develop an Urban Revitalization Plan for the Somerset
Subdivision which includes all the stipulations stated at the September 26, 2000 City
Council meeting. A date of public hearing will then be set for November 28, 2000 for the
first reading of an ordinance establishing the Somerset Urban Revitalization Area.
COUNCIL ACTION:
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Prepared by the Department of Planning and Housing 200 0 200 Feet
Map prepared: 1010312000