01-11-1999 Council Packet - Laserfiche WebLink

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#2425 Rebers/Service 800, Inc December 10,1998 Page 2 Under the prior park fee ordinance, this site would be charged 8% of the fair market value (established by City Assessor in 1997 at $3.05/s.f. or about $125,270), i.e. a park fee of $10,021. Please review the memo and exhibits regarding commercial/industrial park fees elsewhere in your packet. 2) Security for Future Service Road Construction A condition of the preliminary' and final plat approval resolutions is that the developer provide to the City an escrow or letter of credit to cover the anticipated costs of future service road development adjacent to the rear of the property. This condition was adopted as a mechanism to ensure that this property will pay its fair share of a future service road, in lieu of requiring actual construction of such road at this time. In exchange, the property owner would retain the right to contest the necessity and feasibility of the road at such time it was proposed. Council may recall that the original Sugar Woods plat approval in 1989 required the construction of a service road when Outlets E or F were platted into buildable lots. In 1997 Council concluded that it would be premature to build just the 153' portion of the serv'ice road adjacent to Outlet E, and that although the ultimate access for the property should be via a frontage road, the form of future development of the adjoining and nearby properties should be taken into account at the i;me the frontage road is developed. It was also noted that the conditions of the road easement granted by Otten make it difficult to develop the entire service road at this time. The City Engineer has estimated the cost of a 28' paved road with concrete curb and gutter, storm sewer, etc. (but not trail construction) from Brown Road to Willow Drive, and prorated that cost for the 153' length adjacent to Outlot E. The estimated amount attribu'able to this site is $51,162. If the Council wishes to treat this requirement in the same manner as a standard de\ elopers agreement, we would expect a security amount of 150% or $76,743. Staff is advised that the purchaser, Ms. Bredeson, wishes to discuss this requirement with Council, possibly to explore alternatives to encumbering $50-75,000 for an indeterminate period of time for a road project that might only be constructed many years in the future, if ever. B-4 Rezoning Potential The possibility of rezoning this site to B-4 was discussed on November 23. Ms. Bredeson has indicated she would not be opposed to such a rezoning. The benefits to the City include a better zoning 'fit' for the office use, and elimination of some of the more intense B-1 uses such as Class II restaurants and gas stations, as well as general elimination of retail uses. There are a few B-4 uses that would not have been possible in B-1, such as nursing homes, schools and libraries. If Council wishes staff to proceed with such a rezoning, this can occur over the winter.