9.B.4. PRSR 07 14 2004Item # 9.B.4.
ver
MEMORANDUM
TO: Parks and Recreation Commission
FROM: Michele McPhers irector of Planning
DATE: July 14, 2004
SUBJECT: Discuss Park Dedication for Downtown Revitalization Project
BackYround
As the Commission is aware, the Downtown Revitalization Project is moving forward. The
City has now entered the development agreement phase with MetroPlains, the developer,
and is working towards establishing the Tax Increment Financing District and Plan.
Issue
One of the key components of the development agreement is a desire on the part of the
developer to work cooperatively with the City on developing the River's Edge Green Space
and a partion of the river walk. They have requested that the terms of the development
agreement include a provision that all park dedication monies relating to this project will be
utilized in the development of the River's Edge Green Space and the rivet walk. They have
also requested an opportunity to discuss a partial cash and land dedication when the time is
appropriate.
Project Description
The Downtown Revitalization Project is comprised of two buildings: the Bluff Block and
Jackson Square. The Bluff Block will include 10,000 square feet of retail on the first floor
and 62 units of "fox sale, owner-occupied" housing. The Jackson Square Project is
comprised of 32 rental units and approximately 10,000 square feet of commercial on the first
floor. The total cash dedication fox the residential units will be $206,800, at the 2004, 2,200
per unit rate. The dedication fox the commercial portion will be collected at a percentage of
the $4,500 per acre rate, based on the total square footage of the commercial component.
As the plans fox the Bluff Block structure progress, staff will return to the Cotntnission to
discuss the design details of the green space and river walk. There still remains an issue with
Memo to the Parks and Recreation Commission
Downtown Revitalization Project Park Dedication
July 14, 2004
Page 2
the WIld & Scenic Corridor, as the river walk will encroach into the Wild & Scenic boundary,
since the building will have no setback from the WIld & Scenic District line.
Request
The Commission is asked to consider the developer's request and recommend to the
Council that the City concur with this request. The river walk has long been a desire of the
City to see accomplished and dedicating this amount of money would be a small portion of
the overall park dedication budget, which as of the end of June totaled $1.5 million.
5:\PLANNING\Caae Files\2W4\MerroPlmns Bluff Block\07 14 04 P&R memo.doc