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5.07: Public Hearing: Consider Ordinance #14-14 Amending City Code Section 117-118 <br />Entitled The COR Amending Minimum Floor Area Ratio and Maximum Parking <br />Requirements in The COR-1 Sub -District <br />Public Hearing <br />Chairperson Levine called the public hearing to order at 8:17 p.m. <br />Presentation <br />Community Development Director Gladhill the staff report stating the paipo,,L, of this <br />case was to consider an ordinance amending City Code to lower the minimum Floor Area Ratio <br />from 0.75 to 0.65 in The COR-1 Sub -District. The Council has directed staff to consider an <br />ordinance that would lower minimum density requirements in The COR-1 Sub -District and study <br />how this amendment would impact the remainder of the future development of The COR, while <br />still generally preserving the vision of the Development Plan. Staff discussed the request further <br />and recommended adoption of an ordinance that allows densities to more incrementally and <br />organically build. <br />Citizen Input <br />Brian Pankratz, CBRE, explained PSD was interested in completing a development on parcel 49 <br />within The COR-1. He discussed the plans for parcel 49 and noted the density and floor to area <br />ratio (FAR) did not meet the City' s ratios. He then provided comment on the expense of structured <br />parking. <br />Mr. Brama explained PSD did not oppose structured parking, but wanted market demand to <br />determine the level of density for future development and not to have structured parking be a <br />requirement. <br />Motion by Commissioner Bauer, seconded by Commissioner VanScoy, to close the public hearing. <br />Motion Carried. Voting Yes: Chairperson Levine, Commissioners Bauer, VanScoy, Brauer, <br />Maul, and Nosan. Voting No: None. Absent: None. <br />Chairperson Levine closed the public hearing closed at 8:30 p.m. <br />Commission Business <br />Commissioner Bauer recommended the Commission consider why the FAR was set at 0.75 <br />originally and how The COR-1 will be impacted if this number were to change. <br />Community Development Director Gladhill believed the original plan for this area was to <br />maximize density and the investment in transit, while reducing the need for surface parking. He <br />explained that staff's goal was to have 10 units per acre over the entire 322 acre development. He <br />