Fort Walton Beach Council agenda — 08-10-2007 special agenda - Landmark — reading text

Walton Beach. Heights range mostly from one to four stor.es, with a sman number built over six stories where appropriate. Building design supports pedestrian-friendly neighborhoods  characterized by front facades located in close proximity to the property lines. Porches, balconies and plazas overtook streets and sidewalks creating an immediate visual and spatial connection to the public street space. Buildings are detailed to provide visual interest appropriate to their specific design. Windows, doors, trim, construction materials and textures, and roofline pitches support the individual architectural style of each building and complement the pedestrian-friendly, small town atmosphere of the City. These attractive buildings are the primary focus of the streetscape, with parking lots located to the rear or sides of buildings or within the interior of a block. Parking garages include mixed uses and are designed in a manner that disguises the building as a parking facility, while complementing surrounding development. The recommendations Under Community Design for the Historic Downtown that Landmark Center furthers are: Develop "gateway"entrance treatment at US 98 and the foot of Brooks Bridge/ Perry Avenue. Construct streetscape improvements along Miracle Strip Parkway, Eglin Parkway, Florida Place and Perry Avenue, including underground utilities and decorative lighting. 2. In what respects the plan is or is not in confonnity with all applicable regulations of the zoning district In which n Is located: A. The site plan is in conformance with MUMS regulations Staff finds that the Landmark Center is in conformance with the MUMS regulations except for the following which will be addressed in the Development Agreement. These are made part of the conditions of approval. 1. The use of the FDOT right of way along Perry to meet setback requirement and to be used as a public plaza must be included in the Development Agreement. 2. The reforestation requirement which will be met off site will be addressed in the Development Agreement 3. The provision of required parking within the garage which is located on public and private property is addressed in the Memorandum of Agreement and wilt be addressed in more detail in the Development Agreement. B. Parking This project is unique in that the developers propose to build a public/private parking garage on the City's municipal parking lot as well as 10, 000 sq. ft. of their property which will be deeded to the City upon the City' s purch8$ e of the parking garage. The Memorandum of Agreement outlines the general provisions being proposed. Parking Re9uired: ------- Because the project is Within the Parking District, 1 spacelresidential unit is required. No parking is required for the proposed commercial square footage. It is proposed that 38 parking spaces will be paid for and provided in the parking garage.  Parkino SQace Analvsis: The City municipal lot currently has 119 spaces. The Developer proposes to build a Parking Garage with 343 spaces on the Municipal Parking lot. Of the original 119 spaces, 55 spaces will remain in the municipal parking lot (not under the garage) for a total of 398 parking spaces in the municipal parking lot. This does not include the on- street parking spaces on Ferry and US 98 of which there are approximately 12 spaces. 38 spaces will be paid for by the developer and will be allocated to the 38 required for the residential units. 305 spaces are proposed to be paid for by the CRA and will be public parking under exclusive use of the City for the public. o 162 spaces ofthe City's 305 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 475, 000/305). Therefore the estimated cost of 162 spaces is is $ 1560 ($ 252, 720 per year. The TIF payment will be used to offset this cost. For exampte the cash paid to the City in 2007 is 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 will not pay cash to the City for the 162 spaces. This is estimated to be in 2017.. 55 open parkins spaces remain in the lot. 12 on- street parking spaces on this Block. Total Proposed Parking Spaces 398 55) Existing on parking lot - not changing ( Net Parking Garage 343 MUMS Requirement ( 38) 64) Parking lost from surface parking ( Net New Parking 241 Parkino Gafaoe Cost Analvsis: Based on the Memorandum of Agreement, the maximum cost per space ( including 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 Parking Garage of 343 minus 38 required MUMS parldng equals 305 spaces). The financial details win be in a development agreement, purchase agreement and/or other appropriate documents. A  Parkina Facilitie~ Study. Final Report dated June 2007 This study has b~ 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 win be a major asset to the downtown. Pedestrian Bridae over US 98 The block immediately south of this block where Northwest Florida Ballet is located has a major deficit in parking, having additional parking to the north will 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. In what respects the plan is or Is not consistent with good design standards with respect 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 MasterPlan, 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 City's Comprehensive Plan. The 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 Analysis and Report. E. Development Review Committee (ORC) 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 Any comments applicable to the CRA Site Plan Review building permits. that were not addressed are listed as conditions of approval on the development order. The required DRC fee 01# 100 has been paid. DISCUSSIQN: A Memorandum of Agreement has been developed which is a general statement of intent in the the development of the parking garage. It does not bind either party until formalized through of written agreements such as a acceptance of the City Council and the execution subsequent and other written development order, lease, contract for purchase. condominium documents, 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 DeveloPer 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 sha1l 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 bridge 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