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PROJECT OBJECTIVES The objectives of the proposed JDEDZ and associated General Plan amendment and PUD Rezoning are to: ▪ Provide a consistent framework for the City's review and approval of new uses and projects in the JDEDZ area, encouraging investment in and adding value to these properties; ® Maximize the benefits of the location of the JDEDZ project area as an infill site located along transportation corridors and near transit by encouraging the development of both locally and regionally accessible uses in the JDEDZ project area; and • Encourage the development of a diverse mix of uses in the City that would promote long-term economic growth by generating substantial new revenues for the City. PROPOSED PROJECT The JDEDZ entails the implementation of rules, regulations/review processes, and design guidelines (Attachment 4, Exhibit B) to facilitate future development and redevelopment within the JDEDZ project area. As part of the proposed JDEDZ, the City would also specify fees and fee credits for prospective uses and specify off-site improvements. The mix of uses expected to occur within the JDEDZ project area with full buildout includes club retail (also known as warehouse club), hotel, recreational facilities, and general retail establishments. Existing uses within the JDEDZ project area would be "grandfathered" and operate and/or be permitted to expand until redevelopment activities are proposed for a specific parcel within the project area. With development of the JDEDZ, the project area could contain up to 535,490 square feet of occupied building space, a net increase of 310,802 square feet over the existing occupied buildings within the JDEDZ project area. It is assumed that development of the JDEDZ project area would occur in two or more phases, including an initial phase (Phase I) during which Parcels 6, 9 and 10 would be developed with hotel(s) (231 rooms), club retail (148,000 square feet), and general retail (5,000 square feet) uses. The afore -mentioned design guidelines include both broad brush design policies, as well as very specific development criteria. For example, the Design Guidelines would: • Establish site development standards such as setbacks, floor area ratio, and height • Create site design and circulation standards; • Create architectural design standards specifying things such as materials, finishes, and colors; • Create landscape standards such as street buffers, parking lot shading, etc.; and • Require a master sign program for each new development. Page 5 of 22