Agenda Packet 9-11-19 Work Session

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September 11, 2019, Work Session – Item 1 which does not have an active neighborhood association. In order to meet this requirement, RNS Management held a meeting on December 18, 2018, to share information on their proposal. Notice of this meeting was provided to all tenants and property owners within a 500-foot radius of the project. Timing The MUPTE program requires the City Manager to provide council with his recommendation no later than 135 days after the application was deemed complete, which would be by August 21 for the Ferry St. Manor application. The City Manager provided his recommendation via email on August 19. By state statute and code, if council has not acted within 180 days from the application date, the application is deemed approved, which would be October 5, 2019, for the Ferry St. Manor application. If the MUPTE is approved, construction would begin in October with a proposed construction schedule of approximately one year. The project is currently undergoing an adjustment review to reduce the minimum parking requirements for the development. As part of the adjustment review process, the applicant was required to submit a Transportation Demand Management program. This program describes how the applicant intends to reduce the quantity of required parking spaces by emphasizing active modes of transportation, such as walking, bicycling, and riding the bus. An update on the adjustment review process will be provided at the work session. PREVIOUS COUNCIL DIRECTION July 13, 2015 Work Session Council approved the ordinance amending and reinstating the Multi-Unit Property Tax Exemption program. COUNCIL OPTIONS 1. Approve the exemption as presented in the resolution in Attachment H. 2. Approve the exemption with amended conditions. 3. Direct the City Manager to bring back a resolution denying the exemption because one or more specified criteria are not met. 4. Take no action at this work session. CITY MANAGER’S RECOMMENDATION Based on the MUPTE Review Panel conclusions, the independent financial consultant analysis, and the quality of the project and contribution it could make to downtown vibrancy and the City’s planning goals, the City Manager recommends approval of the MUPTE with the terms and conditions in the resolution (Attachment H).