The URL can be used to link to this page

Home My WebLink AboutA002 - Council Aciton Form dated April 22, 2003 ITEM # A 4,..0 DATE 04/22/03 COUNCIL ACTION FORM SUBJECT: DETERMINATION THAT THE REQUEST FOR DESIGNATION OF URBAN REVITALIZATION AREA FOR 218-300 STANTON AVENUE MEETS THE CONDITIONS FOR ELIGIBILITY UNDER THE MULTIPLE FAMILY RESIDENTIAL CRITERIA MATRIX AND TO PROCEED WITH SETTING THE DATE OF PUBLIC HEARING FOR APPROVAL OF REQUEST FOR DESIGNATION OF URBAN REVITALIZATION AREA. BACKGROUND: On April 17, 2003 the City of Ames received a Request for Designation of Urban Revitalization Area for property located at 218-300 Stanton Avenue. Currently on the 300 Stanton Avenue property there is a 59-unit apartment building and on 218 Stanton Avenue there is a 24-unit apartment building with an approved site plan to add an additional 12 units. The property will have a total of 433 parking spaces when this project is completed. There will remain 26 parking spaces that are located under the apartment structure. There will be 114 surface parking spaces and 293 spaces in the newly constructed ramp. The action to be taken by the City Council is to determine if the request meets the conditions for eligibility under the Urban Revitalization Multiple Family Residential Criteria Matrix. If the City Council determines that it does, it then needs to set a date of Public Hearing for approval of the Request for Designation of Urban Revitalization Area for 218- 300 Stanton Avenue. ANALYSIS: The applicants have submitted a Request for Designation of Urban Revitalization Area for 218- 300 Stanton Avenue under the Multiple Family Residential Criteria Matrix (see attached request). Staff has determined that the request is complete and the information submitted is correct. The following analysis is from the building value estimated by the property owner, and the established land value by the City of Ames. The tax rate is the current tax rate, no change is taken into consideration over a 10-year period on the value of the property and the rate of taxes. The deferred and collected taxes under the three different tax schedules are listed below based on the following valuation: Estimated Value $ 2,200,000 Tax rate/$1,000 Valuation = $30.85983 No tax exemption over a ten year period = $678,916 Taxes Exempted Per Schedule Taxes Paid Over 10-Year Period 3-Year $ 203,676 $475,240 5-Year $ 203,676 $475,240 10-Year $ 301,125 $377,795 -1 - Required Conditions The conditions for eligibility under the Multiple Family Residential Criteria Matrix (see attached sheet), mandate that the property must display one of two required conditions before it can be determined that the property is eligible to be considered further. These two threshold conditions are: - Slum and Blighted - Underutilized The applicant has indicated that the site is Underutilized. To meet the Underutilized condition of the matrix the property has to meet one of the following criteria: - Properties that are vacant in an in-fill area and were previously developed and have had the principal structure removed OR - Properties that are non-conforming with respect to the base zone must be brought into conformance; OR - Properties that are non-conforming with respect to the flood way fringe must be brought into compliance with applicable flood plain regulations: OR - Properties where a parking ramp is constructed as an accessory use to a new or existing apartment dwelling. The parking ramp provides, at a minimum, 50% more parking spaces than is required for the apartment dwelling on the property where the ramp is located and the mixed use project for which the ramp is constructed as a result of the remote parking agreement as provided for in Section 29.406(10) of the Municipal Code. It is staffs' belief that the applicant's request meets the Underutilized requirement based on the proposed construction of a 293 space parking ramp that will actually provide 80% more parking spaces than is required. Since staff believes the applicant meets one of the two required conditions, it has analyzed the optional conditions. The applicant has selected the following optional condition, Structured Parking — a minimum of 70% of the total required parking is in the structure. Optional Conditions The option selected by the Applicant under the optional conditions of the Multiple Family Residential Criteria Matrix is: - Structured Parking — a minimum of 70% of the total required parking is in the structure. The applicant has an approved site plan that shows the parking facility designed with 293 elevated spaces and an additional 140 parking spaces provided on the site with 114 of these spaces on the ground level of the ramp. The total site is required to have 240 parking spaces. The applicant is providing 122% of the required parking in the elevated parking facility. -2- City staff has determined that the applicant has met the Required Underutilized condition from the Multiple Family Residential Criteria Matrix. Staff has also determined that the project does meet the optional condition of "Structured Parking." ALTERNATIVES: 1 . The City Council can determine that the Request for Designation of Urban Revitalization Area for 218-300 Stanton Avenue meets the conditions for eligibility and set a date of public hearing for the approval of the Request for Designation of Urban Revitalization Area. City Council can also direct staff to prepare the Urban Revitalization Plan. 2. The City Council can determine that the Request for Designation of Urban Revitalization Area for 218-300 Stanton Avenue does not meet the conditions for eligibility. 3. The City Council can refer this request back to staff for additional information. MANAGER'S RECOMMENDED ACTION: Staff has determined that the project does meet the required condition of Underutilized and the optional condition of"Structured Parking" of the Multiple Family Residential Criteria Matrix. Since the project meets both the required and optional conditions it is the recommendation of the City Manager that the City Council adopt Alternative #1 . This action will approve the Request for Designation of an Urban Revitalization Area for 218-300 Stanton Avenue. A public hearing on the designation of this property as an Urban Revitalization area will be set for May 27, 2003. COUNCIL ACTION: -3- CAFAPPROVAL SS if BK SL JK JP DV To be sent to Effective Date: June 17, 2002 FIECEIVED equest, for Designation of APR 17 2003 rban Revitalization Area CITY OF AMES, IOWA DEPT. OF PLANNING & HOUSING Application Form (This form must be filled out completely before your application will be accepted.) 1. Property Address: Z/ 30 D Tom- 4 , 2. Property Identification Number(Geocode): / 6/_ 3. Legal Description (attach, if lengthy): e e- /-#act_e_d 4. Street Address of Property to be Included in the Urban Revitalization Area: f r-4ox /4-� c 4� c 5. Property Owner: T�f_Y111 ct Address: (Street) (City) (State) (Zip) Telephone: J��j �,�-�61rc ?l��- �) (Home) t� /�(Business) (Fax) 6. Contact Person: Address: (Street) (City) (State) c� (Zip) Telephone: (Home) (Business) (Fax) E-mail address: 1 �S i''( � G (/I 6�11 ho fl a_d' I(We) certify that I(we) have submitted all the required information to apply for approval of the Request for Designation of Urban Revitalization Area and that the information is factual. Signed by: C - Date: ci3 roperty Owner) (Note: No other signature may be substituted for the Property Owner's Signature.) 3 Effective Date: June 17, 2002 Request for Designation of Urban Revitalization Area Criteria for Eligibility Please describe how the property meets the required and optional criteria in the "Commercial Criteria Matrix" or in the "Multiple Family Residential Matrix" (see attached). Please attach additional sheets if necessary. _/� / / / - LJ ��2� / �O I�'IGL TKc j6z! G r'J V.dl^1- 72 ,9 lo '�J��3Tit' a-jJG-r�1�✓� G�yljC ��iti� C{�1� 77i��''� �.XiO�.rrS�ch , ICitG � �++i,Y{O ccV- e4-rA /6--7r/, :5•�cc H-1 I'oci:s;yam vd+-f ZZ&Wavn l -k rG•` A4, 4lis ip-s a*,,J arc��e�v.t/e,�lia.•rcc�c ti .s 4 a u C C O � N 0 _ O O co co O co C Lo 0 0 r o U ice-+ i C O O 41 - Z o � - a) U o0 ch -p O -Op N N IL i E O c6 4 �- Q) Q C > `+ `— O O O 00 U m i c� s o .c: C O C f— -O N 'O _ C J co cn CD M O? Cc p o N O co .- ! M m v �- 06 = CD CO > +� n N O C a) w d . c -91 g IT -- - ------- s I I .. ........ ...... Y `!j W _O �, I I ' am �- p I I I I I 10NO W I I I T � I I --- -- i IT I I I I I SO I I I �\ I I I i I 1 , 1 I 1 1 ' I I _ r• 1 I I ' I I I I 1 1 I I I I I 1 I 1 I I 1 I _.- W 1� • ± J I I - 1 I I I\ �` r- I 1 _ �