2014/10/22 Council Agenda Packet

Requirements. The following requirements shall apply to the subject pilot project: 1. For purposes of this pilot project "student housing" is a permitted use in the B-3 zone at the property on the southwest corner of California Street and Oakes Avenue. 2. Except as provided in Paragraph 9 of this section Tthe building is to be used exclusively for approximately 100 units of student housing. TLC shall provide a letter to the Planning Department before January 31 each year confirming that the building is used exclusively for student housing. 3. The building shall comply with all requirements of the B-3 zone except as specifically modified in this Ordinance. 4. The off-street parking standard for student housing shall be one parking space per habitable unit in the subject building. 5. For the purposes of complying with EMC 19.34.060.A and EMC 3.78.070D7, the required off-street parking is authorized in the TLC garage by providing one off-street parking space for each habitable unit of the Feetprint-building. 6: When the Feetprint-building reaches 90% occupancy for a period of three months, Felt- the Developer shall provide the City a parking monitoring report prepared by a qualified professional with expertise in analysis of parking and transportation, to document utilization of on -street parking by building tenants, and utilization of off- street parking spaces reserved in the TLC parking garage. This plan will be reviewed by the City Traffic Engineer and the Planning Director to determine if tenants are impacting the supply of on -street parking spaces, and how many spaces are being used in the TLC garage over time. If utilization is consistently lower over a period of time approved by the City's Traffic Engineer than required in this Section, the City may reduce the required amount of off-street parking required in the TLC garage to the number determined by the Planning Director and City Traffic Engineer to be necessary to provide adequate off-street parking, and authorize an amendment to the covenant recorded on both properties accordingly (provided it is first approved by the Planning Director and City Attorney). 7. The Fee building will be eligible for consideration for the Multiple Family Property Tax Exemption of EMC Chapter 3.78 with required off-street parking provided in the TLC parking garage per this Ordinance, provided it meets all other eligibility and design requirements of EMC 3.78 and of the B-3 zone. 8. No City building permit will be issued for the Project until 1) Feetpr - The Developer records a covenant approved by the Plamiing Director and the City Attorney , with a copy of this Ordinance, restricting the use of the Project to student housing and committing to complying with the provisions of this Ordinance, including the parking requirement; 2) TLC records a covenant approved by the Planning Director and the City Attorney reserving one off-street parking space in the TLC 5 16