Agenda - 05-20-2014 - 6a - Laserfiche WebLink

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I Mayor Kleinschmidt said their community design commission will have an important role 2 in this project by reviewing any proposed project for its esthetic value, architecture, form and 3 materials. 4 Commissioner Gordon said the predictability could be a good thing, and it is the flip side 5 of conditional zoning. She said people like predictability. She said there is an overall ratio of 85 6 percent residential development versus 15 percent retail development. She said residential 7 development usually doesn't pay for itself unless the residential units are expensive. 8 Mayor Kleinschmidt said this will be multi - family homes, and no single family homes will 9 be allowed. 10 Commissioner Gordon asked why more commercial development is not being 11 encouraged early on. 12 Mayor Kleinschmidt said the zones will be mixed use zones, except for two that overlay 13 the park area right now. He said these are the only areas with purely residential projects, and 14 these are multi - family. He said the residential area has had projects come through before. He 15 said there are property owners who want this, and it is going to happen. He said everywhere 16 else is mixed use. 17 Commissioner Gordon said she will have to look at the figures. 18 Mayor Kleinschmidt said there are 190 acres. He said there will be 1000 new residential 19 unit, which is 10 times more than Greenbridge, which sits on less than an acre. He said this 20 property is not overrun with residential if you think about it that way. 21 Commissioner Rich said this process started when she was on the council in 2009, so 22 the idea that it has been rushed is false. She said the Board of County Commissioners is just 23 now hearing about the proposed funding of this project, and the models and numbers will have 24 to be examined. She said the County needs to support economic development. She said she 25 was concerned about the schools, and she will look at that information. She said it would be 26 nice to see some affordable housing units here, and she noted that the affordable housing units 27 there now are run down and need re- development. She said she is excited about helping to 28 support the economic development portion of this. 29 Council Member Harrison referred to the questions about the transportation 30 improvements. He said 15 -501 has the biggest foot print of any road in Orange County, and 31 any developer that came up with expansions ran into walls with the DOT due to required, high 32 price tag improvements. He said pooling the money and having a comprehensive plan and 33 town owned streets is a more productive approach. He does not agree with every link the in 34 grid, and some of this needs to be discussed. He said the transit system has proved itself to 35 be increasingly adept at adjusting routes, and he feels it is better to do this in the towns rather 36 than with outside consultants. 37 Commissioner Dorosin referred to the point about the County's contribution up to 38 $400,000 or the lesser of 50 percent of the increment. He asked how the town would make up 39 the difference between the tax increment and the debt, if necessary. 40 Kenneth C. Pennoyer said the town has a debt management fund that is used to fund 41 major capital projects, and there is a sufficient balance to make up this amount if needed. He 42 said if these funds are used it would delay other projects, but it is there as a backstop if needed. 43 Commissioner Dorosin asked if this project could still work if the County decided not to 44 participate. 45 Kenneth C. Pennoyer said the ability to do it would be more marginal, and it would be 46 much tighter. He feels the town would likely push ahead to try and make it work. He said the 47 County's participation creates a partnership that makes a strong, marketable debt structure. 48 Commissioner Dorosin asked for clarification that the borrowing is not like the tax 49 increment bonds that were subject to the constitutional amendment from several years ago.