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121 <br />KEY DISCUSSION TOPICS <br />During review, staff identified several topics for discussion: <br />1. Economic Development Opportunity <br />This project and property has been of interest by the Town for a number of years. The Council <br />Committee on Economic Development instructed staff to develop the original concept plan to <br />help in facilitating growth and good use of the property. The current proposal has the potential <br />to add over 400 -700 residential units, 140,000- 416,000 sq. ft. of retail /hotel space, and 60,000- <br />270,000 sq. ft. of office. The project could add as much as 935,000 sq. ft. of floor area. <br />2. Affordable Housing <br />The applicant is proposing to allocated land for 50 new affordable rental units. This would be <br />equivalent to 7 % -13% (depending on the final mix) of the new housing created within the <br />project. Financing approval for the 50 new affordable units will be pursued for a period of no <br />less than 5 -years after SUP approval, and land allocated for the new affordable units will be held <br />for this use during the period. Examples of financing options that could be pursued include Low <br />Income Housing Tax Credits (LIHTC) and tax - exempt bonds. <br />3. Eubanks Road Park and Ride Lot <br />The Edge project is adjacent to the Town's Eubanks Road park/ride lot. The August 2013 <br />Traffic Impact Study identified several roadway improvements that are required to address <br />existing traffic problems as well as increase in the traffic volumes from the proposed <br />development. The improvements include a redesign to the ingress and egress along Eubanks <br />Road. <br />4. Modifications to Regulations <br />The applicant is seeking Council approval of modifications to the Land Use Management <br />Regulations for these standards: <br />a. Tree Canopy Percentage: Reduce the minimum tree canopy coverage from 40% to 20 %. <br />b. Building Height: Increase the primary building height along Public Street `A'& B' from <br />50 -feet to 59 -feet. <br />c. Building Setbacks: Reduce the perimeter parking lot street setbacks and interior /street <br />setbacks. <br />d. Landscape Buffer Widths: Reduce proposed landscape buffer widths around the <br />perimeter of the site. <br />Mix of Land Use Percentages: Change the mix of land use percentages (residential, <br />commercial, office) required in the Office Institutional -1 and Residential -1 Mixed Use <br />Districts. <br />