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HomeMy WebLinkAboutA005 - Council Action Form dated September 27, 2005 ITEM # c�Lj DATE: 09/27/05 COUNCIL ACTION FORM SUBJECT: APPROVAL OF THE URBAN REVITALIZATION PLAN FOR 4509 & 4512 TWAIN CIRCLE AND FIRST PASSAGE OF AN ORDINANCE ESTABLISHING THE URBAN REVITALIZATION AREA BACKGROUND: On August 9, 2005, the City Council directed staff to prepare an Urban Revitalization Plan and set a date of public hearing for September 27, 2005 to establish an Urban Revitalization Area for 4509 & 4512 Twain Circle. City staff has prepared an Urban Revitalization Plan for 4509 & 4512 Twain Circle. The following items are included in the Urban Revitalization Plan: ■ The area includes two properties with the total current assessed valuation of land at $377,800 and improvements of zero. ■ It is expected that the value added will exceed the 5% increase required in actual value on the vacant properties to be eligible for the tax abatement. ■ The owners of the properties in the district are listed in the attached Urban Revitalization Plan. ■ The zoning classification is Residential High Density Zone (RH). ■ There are no City infrastructure improvements associated with this project. ■ The district will be in place for 3 years. ■ There will be no displacement of any persons and thus no relocation benefits provided. Analysis. The applicants have submitted a Request for Designation of Urban Revitalization Area for 4509 & 4512 Twain Circle under the Multiple Family Residential Criteria Matrix. It has been determined that the request is complete and the information submitted is correct. The applicant indicates that there is a farmhouse and several outbuildings in poor condition that were once part of an agricultural operation that will be removed as a result of the apartment construction. The following analysis is from the building value estimated by the property owner and the established land value by the Ames City Assessor. The projected tax rate on the remaining taxable value is the current tax rate, with no change being taken into consideration over a 3-year analysis period on the value of the property, time value of money, and the rate of taxes. The total current assessment for the property is $377,800,with a taxable value of$181,209 (47.9642% rollback), and the total tax revenue is currently $5,600 (30.91 tax rate). The estimated cost of the new multi-family building is approximately $2,900,000, with an estimated taxable value as condominium regime of$1,390,962. The estimated future tax annual revenue without abatement would be $42,990. The taxes deferred and collected analyzing the three-year, 100%tax abatement schedule is listed below based on the following valuation: Estimated Value $2,900,900 Tax rate/$1,000 Valuation = $30.91 Land value $ 377,800 Total Value $3,245,080 Yearly tax revenue on improvements, existing value = $48,106 No Tax exemption over a 3 year period = $144,318 Taxes Exempted Taxes Paid Over 3 Per Schedule Year period 3-YEAR $110,715 $33,603 Required Conditions. The conditions for eligibility under the Multiple Family Residential Criteria Matrix 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 in its present condition. To meet the underutilized condition of the matrix, the property has to meet the following: - 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 compliance; or - Properties that are non-conforming with respect to the flood way fringe must be brought into conformance with applicable flood plain regulations. • It is believed that the applicant's request meets the underutilized requirement in that the current farmstead and outbuildings are non-conforming with respect to the base zoning of Residential High Density (RH). 2 The applicant has submitted a site plan and elevation drawing showing conformance to the optional required conditions in the matrix (see attached documents). The applicant meets the required conditions as follows: 100% street face and 50% of all side faces of the structure shall be faced with brick or a similar masonry material, and Landscaping improvements installed at 150% of the required landscaping standard or greater. ALTERNATIVES: 1. The City Council can approve the Urban Revitalization Plan for 4509 &4512 Twain Circle. 2. The City Council can deny the Urban Revitalization Plan for 4509 & 4512 Twain Circle. 3. City Council can direct staff to work with the developer to revise the Urban Revitalization Plan in accordance with alternatives set forth by the City Council. MANAGER'S RECOMMENDED ACTION: In accordance with City Council's directive on August 9, 2005, staff has prepared the attached Urban Revitalization Plan for 4509 & 4512 Twain Circle. As requested by Council, all sides of the buildings will include brick. The approval of the Urban Revitalization Plan for 4509 & 4512 Twain Circle will assist the developers in their building activities. Therefore, it is the recommendation of the City Manager that the City Council approve the attached Urban Revitalization Plan for 4509 & 4512 Twain Circle. Attachments 3 THIRD ADDITION, DAUNTLESS SUBDIVISION ! �HILLSIDE 2nd ADDITION AI --_-_.—.—._ -__WEBSTER STREET J _ 10 reas o Lat S.FI. Acr�e)s Lot s1)eFL Aarep x 15 14 13 12 \`�..'• 7I r Z 11 POINT 1'`••. N BEGINNING O Z »{ no p..Y Ix 90'00'00 - 357.00' e.++{-•:;I w �.................5, ......i15.iY-.._.....IS_...._......._.. [L110.K pA Z d 45' Up, 13 12 ® ® , ®+a 2 i Pro ert Line Curve Data Lot Radius Chord Chord B—in Della J°0 ---9_-- a so s,.se .e ° ° - TWAIN CIRCLE .'I» T._ m --m1 Npalto'W'E-u: K IV �p 11 6 g 0 r.&L I"_ fie' - 28'128'i cr .J••L.M-�l� No lh 10 SOIL BORINGS: ( 9 6 Ile ® •e" »•• hi at "Soil borings are required in areas within the site, I ct which have been Identified by the City as having ; k _ O ..it, that make construction of buildings difficult." I ------- I Q + I C ' U N S ACCESS: There shall be no private drive access '.I, d O to any lots from South Dakota Avenue." I T 8 I AR . �• D Note: ,!'c� s'wo;neye "The ezisling drives !o Lot 9,shall be )sl' m I) )............: n removed ._-.--_. 1 �s..____._.__.___.u5__.______.fit._m]r. upon completion of construction, n I e »] 8:occ plants I the povin(I for Twain qQ »ar+{ N8953'37W- 357.38' Circle by the Cily of Ames. O/� r*1 / C ACREAGE: 4.4483 Acres n LEGEND (19],)]0 Semn Fed) 7 6 �5 4 as 3 2 1 Wail,Eo,emenl, l o STEINBECK STREET STREET W Ire.pM./eev a.re,na ben er u—'enl 'p,e er Sel 5/e •Jp•Iran pN w/eep/elJe FRECEIVED ZONING: R-2 (Lots 1-5)R-3 (Lots 6-9) 6 2005MES,IOWA — OEPTr OF PLANNING&HOUSING DESCRIPTION: A Replal of Outlols "Y"and "Z% First Addition, Dauntless Subdivision;in the East-half(1/2)of Section 7 - T83N - R24W of the 5lh P.M., In the City of Ames, Story County, Iowa; more porliculody described as follows: "Commencing at the Northeast(NE) corner of the Southeast 0uarter(SE 1/4) of Section 7- T83N - R24W of the 5lh P.M., in the City of Ames. Story County,Iowa; thence NO'00'00"E, 340.15 feel along the east line of the NE 1/4 of said Section 7; thence S90'00'00"W, 45.00 feet to the Northeast (NE) corner of Oullol "Y", First Addition, Dauntless Subdivision and the Point of Beginning; thence continuing S90'00'00"W,357.00 feel along the north line of said First Addition, to the Northwest(NW) corner of Outlol Y"; thence SO0'00'00"W.543.00 feel along the west line of Oullols Y` and "Z", to the Southwest (SW) c of Oullol "Z":thence N89'53'37"E. 357.38 lest along the south line of Oullal "Z", to the Southeast (SE)corner thereof; thence N00'O6'23Yl, 202A4 feel along the westerly right-of-way of South Dakota Avenue; thence NCUOD'00"E,340.20 feet continuing along the westerly right-of-woy of South Dakota Avenue, to the Point of Beginning." CERTIFICATION: I hereby certify that this land surveying document was prepared and the related work was performed by me or under my direct personal supervision,in ADMINISTRATIVE PLAT FEBRUARY, 1999; of the request of Everett W. and Marjorie L.Cochrane; 207 THIRD ADDITION, Slpnton Avenue,Ames, Iowa 5001 4-109 9;and that it is o true and correct representation of the lands surveyed, and that permanent control monenl DAUNTLESS SUBDIVISION with o surveyor's marker, have been established at each controlling corner of the Parcels a, subdiv the Lows of the ided;and that I am a duly Licensed Land Surveyor under to Stale of low°. AMES, IOWA A Replol of Oullals'r`h First Addition,Dauntless Subdivision. Kenneth D.Janssen P.E.•L.S.. 18136 License renewal data: 12-31-99 EP-File #99003 February, 1999 Ep EmNGIt4EERING PLUS, Inc. EI/2-EI/2-Section 7 - 83-24 THIRD ADDITION, DAUNTLESS SUBDIVISION <0 ; HILLSIDE 2nd ADDITION Z'� I., m M .;._....-------._..__.._._.__._.... _.___.._.. ---.---_—. WEBSTER STREET J 10 I I Lot Areas o i Lot I S . Ft.I Acres Lot S . Fl. Acres I 15 14 13 12 j 1 IJ 411 a.J079 6 1]768 0.3165 1 Z 11 1 i 1 1 0.100) -f8'T41i85 POINT of"".,j -7 9,951 o.z23 le al o.aii.� O ! BEGINNING I 1 e 9 o:1eo6 61071 1.101, x10 °"""" ---Ti190'00 00"WI - 357.00' f- 172 D x1] --- J]9 12 61.50 61.50' S•] 13 IIS.]' I+ IIi.S]' F CURVE DATA f*1 45 7 m _s�. I r 13 12 is 5 $ 4-7 g 2 ;IS 8 Property Line Curve Data J]a I Jss J19 ]n 64.50' also' 1oe1, ® d]E g o Lot Radius Chord Chord Beorin Della --•------ •------•- 1 7e 10.18 5 IY oa oo JO'00 00_ :i•20 it ^;]20 — R is oo TWAIN CIRCLE -2:5: m ^ �'—�3'oo un•W 3o}aToo-oo" ---- i' 9,...- - LI1 _ ------- 7J77;93 N90'00'00-E �I�' xs6 a �— 6 2 N 2x' �7`70 30• �i]il 6 � ]] N 6' 2 1 W 1' 3r 09 ___._.—_�__._.__.._.__.—.fixer, 129.0p' :3 4, +® '' Z 9 109.9d— 2e'�9 it W 13'—S)" I`a-' 259 59V00'00'E- IS0.00' oJ1 p 30' 30' ® 257' - :I uu i ] '1221 00 o _.___.._--------_,--.__._..__SII I� N o00 1 8 W -III- I ni Ix8 SCALE. 1" = SD' I o a 28' 28' o No lh 1 0 0 a of '° o s:Coy"i-SE 1/4 O ; • y 6 40 9 ; rpm°flog Rood Spike (Rcd"rdr l0 APdrdx.1' 1+6.5') I -• 70 ,p O - - ert�l�cdle Na.96-0650 O ;g a oa' ........,e.i... _ I]12 „d�1i55 NOTES: I ----- --- ''-N Slew ]x9,5i ) o SOIL BORINGS: I I 9 0 65jy5 C ° ;Q 1s"• r�i "Soil borings are required in areas within the site, O i ® d which have been identified by the City as having �o w 8 o soils that make construction of buildings difficult." '- ------• ,a' I C ACCESS: O There shall be no private drive access p I ^- N O to any lots from South Dakota Avenue." I 8 y Note: -------------- 5'oroir.V O "The existing drives to Lot 9, shall be s� esao• 17 y J6+ z72.Je• ______________ D removed upon completion of construction, s66 & acceptance of the povinQ for Twain �O ao`"$�1 N89'53'37"W -1357.38' I]a] :1ac...iy�l 71 D Circle by the City of Ames. i Q °' I I A / Z ACREAGE: 4.4483 Acres j 7 TIC I ` m (193.770 sgu—Feet) - 145' 6 5 4 3 2 LEGEND; ..__._..__.___._._ I I Utility E.,emenl, _._._,_ �. %X%% House Number ' e sectlnn orner , i _ --- ---. •—CA STEINBECK STREET— ....................__.-_.- o • � 9e1 1/2•c x 30"d Irondleen w/n picap 1e136 . 390 or Scl 5/6 • }0-Iron pi.w/cop/9136 RECEIVED °.ZONING: R-2 (Lots 1-5) R-3 (Lots 6-9) r•r , }UN 0 8 2005 : J CITY OF ANTES, IOW [ED)EPT OF PLANNING & HOUSING DESCRIPTION: A Replat of Outlols "Y" and "Z", First Addition, Dauntless Subdivision; in the East-half (1/2) of NE cdrn.r Section 7 - T83N - R24W of the 5lh P.M., in the Cityof Ames, Story County, Iowa; more SE 1/4-SE 1/+ y y particularly S-0..s7-R6K MeA described as follows: "Commencing at the Northeast (NE) corner of the Southeast Ouarter (SE 1/4) of Section 7 - ul u,'"i:....cn T83N - R24W of the 5lh P.M., in the City of Ames, Story County, Iowa; thence N00'00'00"E, 340.15 ce,rrcm.N9.94-02795 feel along the east line of the NE 1/4 of said Section 7; thence S90'00'00"W, 45.00 feel to the Northeast (NE) corner of Outlot "Y", First Addition, Dauntless Subdivision and the Point of Beginning; thence continuing S90'00'00"W, 357.00 feet along the north line of said First Addition, to the Northwest (NW) corner of Cull- 'Y"; thence S00 00'00"W, 543.00 feet along the west line of Oullols "Y" and "Z", to the Southwest (SW) corner of Oullot "Z"; thence N89'53'37"E, 357.38 feet along the south line of Oullot "Z", to the Southeast (SE) corner thereof; thence 1,100'06'23"W, 202.14 feel along the westerly right-of-way of South Dakota Avenue; thence N00'00'00"E, 340.20 feet continuing along the westerly right-of-way of South Dakota Avenue, to the Point of Beginning." CERTIFICATION: I hereby certify that this land surveying document was prepared and the related work was performed by me or under my direct personal supervision, in ADMINISTRATIVE PLAT FEBRUARY, 1999: at the request of Everett W. and Marjorie L. Cochrane; 207 THIRD ADDITION Stanton Avenue, Ames, Iowa 50014-1099; and that it is a true and correct , representation of the lands surveyed, and that permanent control monuments, DAUNTLESS SUBDIVISION with a surveyor's marker, have been established of each controlling corner of the parcels as subdivided; and that I am a duly Licensed Land Surveyor under to the Laws of the Stale of Iowa. AMES, IOWA A Replol of Oullols "Y" & "Z First Addition, Dauntless Subdivision. Kenneth D. Janssen P.E., L.S. #8136 License renewal dole: 12-31-99 ENGINEERING PLUS, Inc. EP-File N99003 February, 1999 El/2-El/2-Section 7 - 83-24 Amer, I..d sls-xJx-esss C) 0 0 N it Q� cu tn ca "a (z o U U G. o ►'� bap c`d O a[i > 3 O ❑ Z G r`7- C y 'O bU by 4 fn ...a r-i -� E Q Y Cc a a 3 = = 0 moo ° o c° ntn `o rob w � .5 v� � a ca "M � A amtn6 c Q • ♦ Q Q ♦ ~ O a � o o :ti w > a o 0 d , a z o .4 z � ° r o OF. w E a dw Q a E o �? 5a � ` w o ewe c ,�, `a° " Ey °' •� ° C� Fr � N C."d y N U ,�,� •� LO OIM �. Q N N -w - O E .a F4 Y N w 'a c3 .`�. N X A 'f.. V. Ll, a ed S O Y E 'ts U �" cis ca ate.+ ..U. 'O E O i' CC N N � 754 E 0 i � � .a v� `�� c�aa .a a. � a � 'C pp ` A ti C 9 O" Z5 �CrC ♦ Q ♦ ♦ � Na i o cd y 3 a e� m O 0 bn c0 bn � O N � y, "O 40 w o " •° ° " toY o :se °' C A o o c� w w a J= 40. SOU cc 0E o o o .o is E E -0c > °�' °o a a a. '� Q caa� ❑o aa�� a O a� Eca. 00 .0 M ho O.. a cU 4 to a. U w(U N vaU V o waj y > 00 U 1-83 y O C ao a O .a s X E ,` N > y CQ N N ^O ti rn C y ti N ti U O .�C N .lC, eC 3 U +'�.•• U cu N co a.is ; ' o .: E c°pi •� ° c`a ° E i `o N `o °= oa. ti� ` oo U a m a,a v a, w -a a,A. U -0 U ci 3 c°> o a 40. 3 v aXi E y m n. � � r URBAN REVITALIZATION PLAN 1. Property Address: 4509 & 4512 Twain Circle 2. Legal Description of District: Lot 8 and Lot 9 Dauntless Subdivision, 3rd Addition in the City of Ames District Contains: 80,175 Square Feet or 1.84 Acres 3. Assessed Valuation of Property within the District: Land Value: $377,800 Building Value: $0 4. Owners within the District: Pinnacle Properties Ames LLC, 600 Timber Creek Drive, Ames, Iowa 50010-9158 5. Zoning District Classification: "RH"Residential High Density 6. City_ Services: No new municipal infrastructure will be extended to the site. 7. Applicability of Revitalization: Revitalization shall be applicable only to that subset of eligible property within the above legal description with the residential classification that takes the form of three (3), three story 18-unit apartment buildings that qualifies under the Urban Revitalization Multiple Family residential Criteria Matrix. 8. Duration of Tax Abatement: 3 years at 100%tax exemption. 9. Relocation: This plan does not require the displacement of any persons, and there will be no relocation benefits provided. 10. Percent Increase in Value Added: The value-added requirement is a five (5)percent increase in actual value. 11. Federal State or Private Grant/Loan Programs for Residential Improvements: None 12. Existing Land Use: Single-family detached, 2 story, built in 1896, barn, and detached garage 13. Map Identification Number: 09-07-295-170 09-07-295-180 -w s • • { u n n �► �► �► n u ;:C_ C!:=:, =�O=C•■17 �'1' I'■'1' 1'■'I' ................................ -I. 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