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HomeMy WebLinkAbout~Master - Replace the Current Development Agreement Related to the Rezoning of E. 13th Street RESOLUTION NO. 19-141 RESOLUTION AUTHORIZING TO REPLACE THE CURRENT DEVELOPMENT AGREEMENT RELATED TO THE REZONING OF THE "REGIONAL MALL" SITE ON E. 13TH STREET FOR THE CITY OF AMES WHEREAS,approximately 233 acres of vacant land located east of I-35 and bisected by East 131' Street are zoned Planned Regional Commercial (PRC) with the Northeast Gateway Overlay zoning district; and, WHEREAS, this site has been known as the "Regional Mall" site due to the proposal by Bucky Wolford,former developer,for development of the properties as a mix of an outdoor lifestyle shopping center and large format big box retail; and, WHEREAS,the rezoning approval was done in 2005 and the developer secured approval of a Master Plan for the properties and a Major Site Development Plan and Preliminary Plat approval for development of the north side of E. 13t1i Street as the lifestyle center,and the final site approvals by the City were in October 2017; and, WHEREAS, the approval of the Major Site Development Plan and Preliminary Plat have expired,but approvals of the Development Agreement and Master Plan still stand; and, WHEREAS, the property has been sold to a new property owner, Elwell-Rueter LLC, who is proposing changes to the Development Agreement to allow for the development of the south side of E. 13t''Street as big box retail and to remove the obligation for development of the lifestyle center on the north side; and, WHEREAS,Elwell-Rueter,LLC,is proposing to eliminate the current Agreement and create a new Development Agreement to address the current interests of the property, and, WHEREAS, Chris Murray,representing the property owner,proposes a different approach to developing the site due to the change in the retail economics over the past 15 years and is proposing a new master plan concept for the site focusing on larger format retail and office park development options; and, WHEREAS, the developer requests changes to the Development Agreement related to the upfront infrastructure obligations of the current Development Agreement; and, WHEREAS,the developer is interested in anew Agreement that would address the following issues: 1. Incorporate the proposed Master Plan into the agreement in place of requirement to develop a lifestyle center, and accordingly allow for development of the south side first. 2. Modify roadway improvement requirements to reflect the proposed development scale of the new Master Plan. 3. Sanitary sewer extension partially completed by the City(approximately 4700 linear feet from Dayton Avenue through the DOT right-of-way), remaining extensions as an obligation of the property owners. 4. Remove specific building construction timing and financing requirements. 5. Remove or modify the timing of utility extension requirements further to the east of 570`'Avenue. 6. Modify or eliminate specific tenant requirements. 7. Modify or replace the approval process of the O-GNE Overlay for a City Council Master Plan approval and Major Site Development Plan approval to allow for City Council Master Plan approval and staff Minor Site Development Plan approval. 8. Include conceptual site layout and architectural design and aesthetic features with the Master Plan. WHEREAS, the developer believes that, with the approval of changes described above, development of the site with a 185,000 square foot Fleet Farm store could begin as early as the end of 2019 with completion in the fall of 2020 and subsequent phases of development would be planned over the next three to five years; and, WHEREAS, under the developer's proposal, the City would undertake the design and construction of the sanitary sewer extension starting this summer and fall for completion in the summer of 2020; and, WHEREAS, the proposed extension is estimated at 4,700 linear feet and will take approximately 12 months to design and construct at an estimated cost of $2.23 million with financing of the extension being accomplished through the use of rate payer fees, a connection district, or use of tax increment financing(TIF)based upon a Minimum Assessment Agreement by the developer for the 185,000 square foot Fleet Farm store; and, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that staff is authorized to prepare a Development Agreement to include the following, is hereby approved: A. Create a new Master Plan without the requirement of a lifestyle center. B. Allow for development to occur first on the south site C. Allow for phased development on the south site rather than construction of all the estimated 295,000 square feet of regional commercial with 185,000 square foot Fleet Farm building.However,include provisions for near term development of additional square footage to expand the retail commercial opportunities of the City. D. Include provisions that would limit the relocation of tenants from within Ames to the development for a defined time period. E. Incorporate requirements for implementation of roadway improvements based upon an updated Traffic Study, with allowance for some phasing of improvements coordinated with build-out of the site. (Note traffic study to be completed at developer cost prior to approving a new agreement). F. Include a sanitary sewer trunk line cost sharing provision for construction of an 18" sewer trunk line from Dayton Avenue to the east edge of the DOT ROW along the north side of E 13`' Street (approximately 4,700 feet) and require the developer to complete extension of the trunk line to the east with future phases of development. G. All other subdivision and site development standards for infrastructure are the obligation of the developer. ADOPTED THIS 9`' day of April, 2019. Diane R. Voss, City Clerk John A. Haila, Mayor Introduced by: Nelson Seconded by: Corrieri Voting aye: Betcher, Corrieri, Gartin, Nelson Voting nay: Beatty-Hansen, Martin Absent: None Resolution declared adopted and signed by the Mayor this 9t1i day of April, 2019.