Title
Resolution to Approve the First Amendment to The Varsity of Ann Arbor Development Agreement, 425 East Washington Street
Memorandum
Attached is a resolution to approve the First Amendment to The Varsity of Ann Arbor Development Agreement. Approval of this resolution will change one paragraph, P-11, addressing required parking. Use of a car sharing service for a small portion of the required off-street parking for this multiple-family structure was originally proposed and approved. In the time since the development agreement was finalized, the petitioner has decided instead to provide remaining required-off-street parking that does not fit in their underground parking garage through the Contribution in Lieu process. One parking garage space was lost due to a re-design of the foundation to accommodate mechanical units, resulting in a total of 69-parking garage spaces. The proposed amendment commits the petitioner to purchasing 7 monthly parking permits in the Liberty Square parking structure (or as otherwise assigned by the DDA) to complete the off-street parking requirement for 76 vehicular spaces.
Petition Summary:
· The Varsity of Ann Arbor Planned Project Site Plan and Development Agreement were approved on November 10, 2011 for a 13-story, 177,180-square foot apartment building containing 181 dwelling units (415 bedrooms) and 78 off-street vehicle parking spaces. A minimum of 76 off-street parking spaces were required.
· The off-street vehicle parking space plan included a two-level garage underneath the building for 70 vehicles and 2 surface parking spaces on the adjacent site, also owned by the petitioner, dedicated for a car sharing service, counting as 4 vehicle parking spaces each (8 total).
· The petitioner was unable to come to an agreement with a car sharing service. Further, one parking space was eliminated in the underground garage. They are seeking to revise their off-street vehicle parking space plan to switch the 2 surface parki...
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