Agenda - Planning Commission - 10/09/2014

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Regular Planning Commission Meeting Date: 10/09/2014 By: Tim Gladhill, Community Development 5. 7. Information Title: PUBLIC HEARING: Consider Ordinance #14-14 Amending City Code Section 117-118 Entitled The COR Amending Minimum Floor Area Ratio and Maximum Parking Requirements in The COR-1 Sub -District Purpose/Background: The purpose of this case is to consider an ordinance amending City Code to lower the minimum Floor Area Ratio from 0.75 to 0.65 in The COR-1 Sub -District. The City Council has directed Staff to consider an ordinance that would lower minimum density requirements in the COR-1 Sub -District and study how this amendment would impact the remainder of the future development of The COR, while still generally preserving the vision of the Development Plan. Notification: The Public Hearing Notification was published in the Anoka County UnionHerald. Observations/Alternatives: The Zoning Code for the COR, known as the Design Framework, establishes minimum Floor Area Ratio and maximum surface parking stalls in the COR-1 Sub -District. Floor Area Ratio is an equation of the floor area of a building compared to the area of the lot in which the building sits. A high Floor Area Ratio indicates a larger and taller the building, providing a dense and compact development pattern. The Development Plan for the area generally one -quarter mile from the Northstar Commuter Rail - Ramsey Station plans for higher densities and shared, structured parking facilities, guided by Minimum FAR and Maximum Parking standards. At their September 9, 2014 City Council Meeting, the City Council directed Staff to explore an amendment to City Code that is intended to better respond to market conditions in Ramsey related to density requirements in The COR. The intent is to preserve the original vision of The COR Development Plan and work towards higher densities, but provide a zoning tool that is more flexible and adaptive to market conditions that allows projects to incrementally build towards the ultimate vision and provide for future infill development. The amendment does have the potential to have secondary effects to the original planned development, most notably in The COR-1 Sub -District. The amendment may result in larger surface parking lots, thus resulting in smaller buildings for both residential and commercial. The effect of the ordinance, although still potentially the vision, is the potential that future higher densities for a single blocks through shared, structured parking becomes less of a likelihood. It should be noted that it is not necessarily a requirement to have structured parking in order to achieve the desired transit -oriented development. As the development of The COR progresses, the City will regularly evaluate how we are delivering a land use plan that maximizes the investment in transit for the area. At the September 4, 2014, the Planning Commission also briefly discussed the topic of FAR. At that point, the Planning Commission requested additional market data that demonstrated that the construction of structured parking resulted in price points per residential unit outside of the market for Ramsey. At the previous Planning Commission meeting, the Commission recommended market analysis regarding structured parking and the effect on the marketability. While a specific market analysis has not been provided, the City has been provided with a document prepared by Minnesota State University, Mankato regarding feasibility of structured parking on their campus. The results of that study are attached.