Fort Walton Beach Council agenda — 11-12-08 special agenda - DRC cure — reading text

o 162 spaces of the Citys 30S' spaces will be leased to landmark at a cost determined by the development agreement. Based on a 17 year bond payment of 4$75, 000 per year (principal and interest), the cost per space is $ 1560 ($475, 000/305). Therefore the estimated cost of 162 spaces is 252, 720 per year. The TIF payment will be U$ ed to offset this cost. For example the cash paid to the City in 2007 ;s estimated to be $ 247,665 252,720 - $ 5, 055). letter to Eric Nathan from Rick Harper, Ph. D. and larry Sassano estimates the amount of TtF produced by this project Once the TIF equals $252, 720, the developer win not pay cash to the City fQr the 162 spaces. This is estimated to be in 2017.. 55 open parking spaces remain in the lot. 12 on- street parking spaces on this Block. Total Proposed Parking Spaces 398 Existing on parking lot - not changing ( 55) Net Parking Garage 343 MUMS Requirement ( 38) Parking lost from surface parking ( 64) Net New Parking 241 Parkina Ga@ae CoS\Analvsis: Based on the Memorandum of Agreement, the maximum cost per space ( induding administrative fees) is $ 12, 000. Therefore the maximum cost of the City's portion of the parking garage is 3$ ,660,000 (305 spaces X $12, OOO/ space). (The Net Par1c.ing Garage of 343 minus 38 required MUMS parking equals 305 spaces). The financial details win be in a development agreement. purchase agreement and/or other appropriate documents. A  Parkina Facilitie~ Study. Final Reoort dated June 2007 This study has ~ en accepted by the CRA. The Staff Analysis and Report summarizes the findings for the landmark Center. Although the numbers used for the Landmark Center were preliminary, the basic finding is that the garage will be a major asset to the downtown. Pedestrian Bridae over US 98 The block immediately south of this block where Northwest Florida Banet Is located has a major deficit in parking, having additional parking to the north wm be beneficial. However, US 98 acts as a barrier, making the parking in the garage not as accessible~as desired by the businesses on the south side of US 98 where there is a parking deficiency. For this reason, the Memorandum of Agreement has a provision that requires the Landmark Developers to provide an easement for access to the garage if a pedestrian bridge is built over US 98 in the future. 3. I" what respects the plan Is or Is not con$lstent with good design standards with rupeet to all external relationships, including but not limited to: Staff finds that the project is consistent with good design standards as detailed in the Staff Analysis and Report. D. Urban Afaster'Plan~March 2000 The Urban Master Plan provides specific recommendations for zoning and land uses. transportation. streetscape treatments, signage, and architectural guidelines for the CRA. based on the four neighborhoods as identified in the Cttys Comprehensive Plan. Tha proposed Landmark Center is located in the East Miracle Strip Parkway Neighborhood. Staff has reviewed the submitted application and site plan in view 'of the Urban Master Plan recommendations and foUnd it to be consistent with the Urban Master Plan as outlined in the Staff Analy~is and Report. E. Development Review Committee (DRC) Requirements: The DRC reviewed the site plan on May 24, 2007 and forwarded Its comments to the applicant ( see attached memorandums from Malcolm Foley dated May 22. 2007; Sam Wilson dated May 15, 2007; Linda Carnley dated April 20, 2007; John Geurin dated April 30, 2007 and May 15. 2007; and Michael Beedie dated May 24, 2007). The review conducted by the DRC does not constitute final approval of construction plans submitted subsequently for building permits. Any comments applicable to the CRA Site Plan Review that were not addressed are listed as conditions of approval on the development order. The required ORe fee of #100 has been paid. DISCUSSIQN: A Memorandum of Agreement has been developed which is a general statement of intent in the development of the parking garage. It does not bind either party until formalized through the acceptance of the City Councit and the execution of subsequent written agreements such as a development order. lease, contract for purchase. condominium documents. and other written agreements between the parties that may be necessary. The agreement states: A. The memorandum of agreement is a material part of the. site plan review; B. The Develo~ r is required to have 38 parking spaces for the residential units; C. The City has 119 spaces in the municipal parking lot; D. The City and Developer intent to be bound to the following conditions  1) The City shan lease the surface parking area for a period of no more than 18 months, during which time the Developer will construct the 343 space parking garage. 2) Upon completion, the City shalt purchase the garage, including the portion of Developer' s land ( 10. 000 sq. ft.) upon which the garage is constructed. 3) The total purchase price shall b& $ 000 which shall include construction 3, 660, management fees. 4) Developer shan submit at its cost condominium documents to the City. 5) Through the condominium arrangement and a maintenance agreement, Developer is required to maintain the entire parking garage facility. This includes all maintenance and operating costs which is estimated at a value of approximately $ 500/space based on a report from Economic Consulting Services, Inc. dated February 16, 2007. For the 305 public spaces this value is $ 152,000. 6) Developer has exclusive use of 38 spaces. 7} The parties will execute ~ lease agreement that will set forth the value and all terms of the Developer's use of the 162 spaces. 8) The City shall have the exclusive right to 143 spaces, which means that the City may enter into a similar arrangement with an adjacent property owner in order to provide required or needed parking spaces for their development. The 143 spaces are those spaces in the garage that are not the' required 38 spaces or the 162 that are being leased to Landmark (343-38- 162= 143) 9) The Developer will grant an easement to the City for access to the parking garage in the event that a pedestrian brid~e is built allowing access from the project to the south side of US 98. 10} Sets forth the make up of the Board of the Condominium. CRA BOARD OF COMMISSIONERS REVIEW AND RECOMMENDATION: Staff recommended that the CRA approve Site Plan 07 - 02... SP for Landmark Center, including the parking garage, and the Memorandum of Agreement subject to the following conditions: a. Approval of a Development Agreement addressing the items in the. Memorandum of Agreement, FOOT approval to use the right of way along Perry. off-site reforestation requirements, and use of city property to meet parking requirement. b. Copies of all necessary permits ( Stormwater management) from the FDEP shalt be submitted to the Environmental Specialist and City Engineer. c. A copy of the Stormwater management Plan shall be submitted to the Environmental Specialist for review and approval.  d. The property owner is advised of the potential for unexpected discoveries. If ground disturbing activities take place and unexpected discoveries, such as Native American graves or lost historic cemeteries are encountered, guidelines set forth in chapter 872, F .S. ( Florida' s Unmarked Burial Law) must be foll~wed. In the event unexpected discoveries are made the property owner will notify Florida Sate Historic Preservation Officer (SHPO) within 24 hours to begin procedures outlined in' Chapter 872, F. S. e. The DRC comments found in the attached memorandums from Linda Carnley dated April 20, 2007; John Geurin dated April 30, 2007 and May 15, 2007; and Michael Beedie dated May 24, 2007. One letter to the CRA Board Members dated July 6, 2007 was received from Thornber Smith and is attached" The CRA Board of Commissioners reviewed the Landmark Center Site Plan 07- 02- SP and Memorandum of Agreement at their meeting on July 11 2007 and recommended approval of t the Developmeht Order Which incorporates the conditions above and is attached. REC e,N DATION: OM., The City Council may: 1. Approve the Development Order for Landmark Center Site Plan 07- 02- SP as recommended by the CRA Board of Commissioners; 2. SP with Approve the Development Order for Landmark Center Site ptan 07- 02.. changes; or 3. Deny Landmark Center Site Plan 07.()SP. 2.. Upon approved by the City Council, the applicant may submit a development agreement which shall be reviewed by the Municipal Planning Board (with comment from the CRA Board of Commissioners) and City COuncil. A flow chart of the approval process is attached. Attachments: a. Memorandum of Agreement b. Development CRA Case 0 #7 - 02- SP Order..... c. Landmark Center Major Development approval Process Detailed Flow Chart d. CRA Minutes ~ July 11, 2007 for Landmark Center e. Staff Analysis and Report to the CRA Board of Commissioners f. Summary of Municipal Parking Lot and Summary of Parking Garage g. Updated Tax Increment Analysis Report, Landmark Center h. Landmark Center Narrative Report i. Site Plans for the Landmark Center dated 4/ 13/ 07 and 6/25/ 07 j. Conceptual Architectural rendering of the Northeast View k. Site Aerial, Site Section & Typical Building Section Diagram dated 06125/ 07 I. Letter dated July 6. 2007 from Thornber Smith Submitted b;Jn. m~ Reviewed and Concur: Joyce Shanahan City Manager R  ATTACHMENT A Memorandum Of Agreement Between City Of Fort Walton Beach, Florida, and Ft. Walton Development Partners LLC . This Memorandum Of Agreement ("Agreement") is made and entered into this _ day of , 2007, by and between the CITY OF FORT WALTON BEACH, a municipal corporation of