SR 06:052 - Laserfiche WebLink

It should be noted that the IUC Guidelines do not require a developer to identify a specific site or development where the IUC's will be used when making its request for approval of IUC's. However, the Council does have the latitude to designate a specific site and this action can occur as part of its initial review or during the five years that the developer may use the IUC's. As a result, the decision to use the credits on a site other then the PUSD optioned site is a "policy" decision subject to Council discretion. Staff recognizes the developer would like the opportunity to use the IUC's at any site approved by the Council and that its previous recommendation did not restrict the IUC's to the Busch site. However, as a result of comments made during the previous review for these IUC's and general comments rnade during the review process for adopting the IUC Guidelines, staff has changed its recommendation to reflect that these IUC's should be linked to the Busch Property to assure there is a nexus between the affordable units and the ultimate development of the Busch site. Allowing the developer to use them at another site or sites, will create difficulties in assessing the nexus, including the value of the fee waivers granted for the Busch site, between the Bush affordable units and an unrelated site. This situation occurs in part, because the request for IUCs was not part of the initial project review and as a result, staff and Council did not have the opportunity to fully assess the impact of approving IUC's. Nevertheless, staff recognizes the developer's viewpoint that because any future development at an alternative site is subject to Council review, the Council retains the authority to deny the IUC's if it determines the conditions and features of the alternate site and development do not meet Council criteria. . A total of 51 IUC's may be applied to a development on the 23-acre PUSD optioned site provided the total ratio of affordable housing for the entire 363-unit development and any subsequent units will have a minimum of 24% affordable units. Staff Comment: The initial Busch property PUD approval required that 24 % of the total units be affordable and as a result, staff recommends this ratio, which exceeds the percentage of affordable units required in the IZO, be extended to future development on the Busch site. As a result if the developer proposes 200 units on the 23-acre site, a total of 48 are required to be affordable. As an alternative, the Council could require that any future development be consistent with 15% multi family and 20% ownership included in the IZO. . Any IUC's would be applied ill accordance with the following ratios: >- If used on a multi-family development: llUC for each affordable unit required. >- If used for a condo/townhome: 1.5 IUC's for each affordable unit required. >- If used for a senior housing single-family unit: 1.5 lUC's for each affordable unit required. >- If used for a single-family housing: 2 IUC's for each affordable units required. SR:04:260 Page 7