Title
Resolution to Approve Third Amendment to State Street Lofts Development Agreement to Remove Parking Requirements and Terminate Parking Agreement
Memorandum
This development was realized under the obligations of a Development Agreement which specified a minimum number of parking spaces to be provided. This minimum number of parking spaces was satisfied through an agreement with the City that obligated a specific number of parking spaces, through an arrangement that differs from the typical arrangement required by the City, via the Downtown Development Authority as operator.
This Third Amendment would eliminate any required parking component to this development. A separate agreement will terminate the corresponding parking agreement. This would enable both the owner and Downtown Development Authority to consider any future parking arrangements in the same manner prescribed system-wide, rather than previously specified/negotiated by Development Agreement.
Planning, Transportation, and the Downtown Development Authority staff have all reviewed this proposal and support the proposed amendment.
Staff
Prepared By: Brett Lenart, Planning Manager
Reviewed By: Derek Delacourt, Community Services Area Administrator
Approved By: Milton Dohoney Jr., City Administrator
Body
Whereas, The Petitioner, H & K State Street LLC, has requested modifications to the State Street Lofts Development Agreement, as amended; and
Whereas, H & K State Street LLC has requested that P-8 of the Development Agreement, as amended, be deleted to eliminate parking requirements and that the State Street Lofts Parking Agreement be terminated;
RESOLVED, That City Council approve the Third Amendment to the State Street Lofts Development Agreement;
RESOLVED, That City Council approve the Termination of the State Street Lofts Parking Agreement;
RESOLVED, The Mayor and City Clerk be authorized and directed to the Third Amendment to the State Street Lofts Development Agreement and the Term...
Click here for full text