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HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/01/2011 - RESOLUTION 2011-008 AUTHORIZING AND DIRECTING STAF DATE: February 1, 2011 g III W- T STAFF: Christina Vincent Megan Bolin 0 JIT Resolution 2011-008 Authorizing and Directing Staff to Prepare an Existing Conditions Survey and an Urban Renewal Plan for the Midtown Area. EXECUTIVE SUMMARY The Midtown Redevelopment Study, completed September 2010, included both a market and economic feasibility analysis of the Midtown Commercial Corridor. The result of this Study was an Action Plan with implementation strategies, priorities,and time frames to proceed with the redevelopment envisioned. One of the main recommended actions is the completion of an Existing Conditions Survey for the corridor. The survey would evaluate the statutory requirements for the formation of additional Urban Renewal Plan Areas along the corridor. The City Council established an Urban Renewal Authority (URA) to provide assistance to redevelopment projects in specified areas of the city and to be an economic development tool for otherwise distressed locations. Staff is seeking Council's authorization to proceed with the preparation of an Existing Conditions Survey and draft an Urban Renewal Plan for Midtown. BACKGROUND / DISCUSSION Midtown,the South College Avenue commercial corridor running from Prospect Road tojust south of Harmony Road, has been in decline as a prominent regional destination for retail uses. Increased regional competition, aging and outmoded space and the impact of the national recession have contributed to approximately 650,000 square feet of vacant space. In 2009, City Council recognized that the Midtown corridor deserved and required an immediate assessment of its economic outlook and community aspirations for its future, and directed staff to initiate the Midtown Redevelopment Study. This process occurred from late October 2009 to May 2010,during which the consultant team worked with the City,stakeholders and the public to assess Midtown issues,and make recommendations for its future and outline next steps for action. The recommended actions to help achieve the redevelopment envisioned by the Midtown Redevelopment Study include additional design and planning efforts, financial feasibility analysis and further refinement of public financing options. Action Al of the Implementation Strategy directs the City to "Implement other Midtown Corridor Redevelopment Opportunities...Prepare an existing conditions report for the Midtown Study area (excluding Prospect South and Foothills Mall area previously addressed)." See Attachment 2 for the entire language within Action Al. The Existing Conditions Survey will describe the conditions in accordance with the Colorado statutory definition of "blight"that exist in the study area. Consideration should then be given to the creation of an Urban Renewal Plan for the area to eliminate the conditions that constitute"blight"and to further promote the goals and objectives of City Plan. Urban Renewal Plan Areas have the following objectives that are consistent with City Plan: PRINCIPLE GM-8 "The City will promote compatible infill and redevelopment in areas within the Growth Management Area boundary." February 1, 2011 -2- ITEM 16 POLICY GM-8.1 "Redevelopment and infill development will be encouraged in targeted locations. The purpose of these areas is to channel growth where it will be beneficial and can best improve access to jobs, housing and services with fewer and shorter auto trips...A major goal is to increase economic activity in the area to benefit existing residents and businesses and, where necessary, provide stimulus to redevelop. These areas should be defined from City Plan, Subarea Plans, Zoning and locational criteria such as: • Underutilized land; • Areas already undergoing positive change, which is expected to continue; • Areas where infrastructure capacity exists; • Areas where public investment is warranted from a policy perspective; • Areas with special opportunities, such as where major public or private investment is already planned; • Transportation opportunities: • along travel corridors • along enhanced travel corridors" POLICY GM-8.5 "The Citywill consider opportunities,and the costs and benefits for targeted public investment in order to encourage redevelopment and infill development in appropriate locations." The following are the boundaries of the area staff will study (see Attachment 1) for the potential designation as the Midtown Urban Renewal Plan Area: North: The southern boundary of the Prospect South study area boundary; East: The north-south alley that runs between South College Avenue and Remington Street, approximately one to two parcels East of College Avenue. Excluding Foothills Mall,using JFK Parkway to the east beyond the Mall; South: One block south of Harmony Road; and West: The BNSF railroad tracks, along with the proposed Mason Corridor BRT. Staff will further define the boundary as the evaluation of the existing conditions survey proceeds and a more in-depth assessment regarding the needs of the area is made. In 1982, the Fort Collins City Council created an Urban Renewal Authority (URA) and designated itself as the governing board(known as the"Authority"). The boundaries of the URA are the City limits. The Fort Collins URA was created to prevent and eliminate conditions in the community related to certain"blight factors,"as defined in the State's Urban Renewal Laws. The URA has broad powers to carry out its statutory mandate.Included are the powers to enter into contracts, borrow funds, and acquire property voluntarily or by eminent domain, among others. Urban renewal projects may be financed in a variety of ways. URAs are authorized to issue bonds and accept grants from public or private sources. The principal method of financing urban renewal projects is through obligations secured by property tax or sales tax increments from the project area, or "tax increment financing" (TIF). The Authority exercises its powers by planning and carrying out urban renewal plans in urban renewal areas. The major purpose of establishing the Midtown Urban Renewal Plan would be to permit the utilization of tax increment financing in redevelopment projects. TIF is a tool that is commonly used throughout Colorado for a variety of redevelopment and economic development purposes. TIF has also proven to be an effective tool in the North College Urban Renewal Plan Area to overcome significant public improvement costs and to make its retail projects more competitive in the region and state. Given the lack of economic tools at the City's disposal and the proven effectiveness of TIF, staff believes that utilizing TIF is the most effective tool, and may be the only tool that the City has to help keep the targeted redevelopment areas competitive with other communities along the Front Range. The obvious advantage of using TIF is that public assistance toward the development is driven by enhancements to the assessed valuation of the property and is funded through property tax revenues versus sales tax revenues. Authorizing staff to proceed with conducting the Existing Conditions Survey and preparation of the Midtown Urban Renewal Plan does not commit the Council to formally adopting the Survey and Plan at this time. City Council may, however, eventually adopt a resolution finding that blight exists within all, or a portion of, the study area and determining that the rehabilitation and/or redevelopmentof the area is in the interest of the public health,safety,morals February 1, 2011 -3- ITEM 16 or welfare of the residents of Fort Collins, and may adopt another resolution officially establishing the Midtown Urban Renewal Plan. The Plan will examine the feasibility and desirability of implementing an urban renewal program and will make recommendations for correcting those conditions contributing to"blight". FINANCIAL/ ECONOMIC IMPACTS The funding for this survey was approved through the Budgeting for Outcomes (BFO) process 2011-2012. The economic impact will be further defined by the results of this survey. ENVIRONMENTAL IMPACTS No environmental impacts have been identified at this time. The survey will reveal any environmental impacts in the future to address. STAFF RECOMMENDATION Staff recommends adoption of the Resolution. PUBLIC OUTREACH An initial letter was mailed on January 21, 2011, to inform all property owners of City Council's consideration of a resolution authorizing staff to proceed with the Existing Conditions Survey and Urban Renewal Plan evaluation. Future public outreach is proposed, both in the form of one-on-one meetings and a public open house, once the draft Study and Plan are complete. Staff will also provide the South Fort Collins Business Association(SFCBA)with updates on the process and findings. ATTACHMENTS 1. Midtown Boundary Map 2. Midtown Redevelopment Study— Implementation Strategy Action Al 3. 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F I R ' 1• r . ^ ,A Y I � ^ L ATTACHMENT 2 4 next steps Implementation Strategy : lot The recommended actions to help achieve the redevelopment t r envisioned by the Midtown Study include additional design and planning efforts , financial feasibility analysis , and further E refinement of public financing options as detailed below : Al . Implement Other Midtown Corridor Redevelopment Opportunities „ i, ►� :, The Midtown Corridor provides a wide array of opportunities to ,. . reuse , remodel , reposition , and redevelop multiple sites . The opportunities include additional retail , office , housing , and Yam. mixed - use projects as illustrated in the concept prototypes . Actual development will vary depending on market conditions , property owner interest , financial capabilities , and time hori - zons . A broad spectrum of change will occur on the Corridor spanning from the reuse or remodel of existing buildings to the demolition and redevelopment of entire blocks . A commensu - rate spectrum of regulatory, financing , and economic develop- - ment incentives will , therefore , be beneficial . IEW • Encourage the formation of business and property market- Human scaled elements can maintain ing and management organizations such as the newly formed the street edge and pedestrian environ- South Fort Collins Business Association . ment where surface parking might occur • Prepare an Existing Conditions Report for the Midtown Study along the boulevard, as seen on San area ( excluding the Prospect South and Foothills Mall area pre- Pablo Avenue in Emeryville, California . viously addressed ) . This study should evaluate the statutory requirements for a finding of blight to establish the basis for the formation of an Urban Renewal Authority in a portion of � f' the study area . • Allocate responsibilities for the costs of district improve- ments based on benefits received between the city-wide , area- f # wide , and project-specific interests . • a / • Develop a Midtown Corridor financing approach that bal - ances funding for area -wide improvements and project-specific funding needs . IN- � �- Consider pros and cons of using TIF for area -wide improve- ments . Work with area property owners to develop public- private financing programs for implementing recommended Mid - town Corridor infrastructure and design improvements . -- —�--�� This could include the formation of area -wide improvement districts ( e . g . GID or BID ) or other approaches . • Work with existing area property owners , interested develop- Streetscape improvements in com- ers , and business associations to identify, refine , and imple- bination with comprehensive design ment catalyst projects . This dialogue will help to identify a standards can transform a non-descript range of projects from reuse and remodel to ful I redevelopment , arterial into a vibrant mixed-use boule- and to identify ways that every project can help to achieve the vard, such as San Pablo Boulevard in recommend planning concepts . Emeryville, California . 46 FORT COLLINS MIDTOWN CORRIDOR STUDY AREA Midtown Existing Condition Study January 2011 Activity Name Start Finish Jan Feb Mar Apr May Jun Jul Aug Date Date 2 9 16 23 30 6 13 20 27 6 13 20 27 3 10 17 24 1 8 15 22 29 5 12 19 26 3 10 17 24 31 7 14 21 28 Midtown Existing Conditions Study 1/10/11 8/31/11 10 Study Preparation 1/10/11 8/31/11 10 Draft Notice of Intent 1/10/11 1/14/11 EEL] Establish stakeholder mailing list 1/10/11 1/14/11 Mail Notice of Intent to stakeholders 1/18/11 1/18/11 1/18/11 Resolution to Proceed - Council AIS 1/19/11 1/19/11 1/19/11 Resolution to Proceed - Council Meeting 2/1/11 2/1/11 211/11 Prepare Study 2/2/11 4/1/11 One-on-One Meetings 2/7/11 4/1/11 Establish & maintain project webpage 2/7/11 8/31/11 Draft Study to MF 3/18/11 3/30/11 Draft Study to 3rd party 3/18/11 3/30/11 Notification of Public Meeting 3/29/11 3/29/11 3/29/11 Complete Study 4/1/11 4/1/11 0 4/1111 County Impact Report 4/11/11 4/22/11 Public Meeting 4/14/11 4/14/11 4114/11 Study/Plan Approval 4/7/11 7/21/11 Staff report due for P&Z work session 4/7/11 4/7/11 0 417/11 P&Z work session 4/18/11 4/18/11 4/18/11 Resolution to submit Plan to P&Z - Council AIS 4/28/11 4/28/11 4/28/11 Resolution to submit Plan to P&Z - Council work session 5/11/11 5/11/11 5/11111 Resolution to submit Plan to P&Z - Council meeting 5/18/11 5/18/11 5118/11 Notification of P&Z Review to POs, PSD, County Commissioners 5/19/11 5/19/11 5/19/11 P&Z staff report 6/2/11 6/2/11 6/2111 P&Z work Session 6/13/11 6/13/11 6/13111 P&Z Hearing 6/17/11 6/17/11 6/17/11 Public of Notification of Council Meeting to POs 6/20/11 6/20/11 6/20111 Notification to PSD & County Commissioners 6/20/11 6/20/11 6120/11 Written Notice to POs, Residents, Business Owners 6/20/11 6/20/11 6/20/11 Resolution to Approve Plan - Council AIS 7/7/11 7/7/11 0 7/7/11 Resolution to Approve Plan - Council Meeting 7/20/11 7/20/11 7120/11 Council notifies County Assessor 7/21/11 7/21/11 7/21111 2 9 16 23 30 6 13 20 27 6 13 20 27 3 10 17 24 1 8 15 22 29 5 12 19 26 3 10 17 24 31 7 14 21 28 RESOLUTION 2011-008 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING AND DIRECTING STAFF TO PREPARE AN URBAN RENEWAL PLAN AND EXISTING CONDITIONS SURVEY FOR THE MIDTOWN AREA WHEREAS, in 1982, the City Council created an Urban Renewal Authority (the "URA") for the purpose of eliminating blight in the community, and the City Council designated itself as the Board of Commissioners of the URA; and WHEREAS, an Urban Renewal Authority exercises its statutory powers by planning and carrying out urban renewal plans in the geographic area of the URA; and WHEREAS,the area along College Avenue from Prospect Road continuing south to approximately Fairway Lane (hereinafter referred to as "Midtown") has been identified by staff as an area that may be experiencing conditions of blight as that term is described and defined under the Colorado Urban Renewal Law; and WHEREAS,the purpose of exploring the possibility of establishing a URA plan for Midtown is to enable the offering of tax increment financing as a tool to stimulate and leverage both public and private sector development for the purpose of eliminating and preventing the spread of blight in the area; and WHEREAS, it is in the best interest of the residents and businesses within Midtown and the City generally that this area become more economically viable and, in order for this to occur, a comprehensive approach to revitalization may be necessary; and WHEREAS, the City Council has determined that it is in the best interests of the City to recognize that Midtown may need to become an urban renewal project area and that an urban renewal plan for Midtown, including the statutorily required blight study, should be prepared. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that City staff is hereby directed to prepare an urban renewal plan and existing conditions survey for Midtown, which area is more particularly described on Exhibit "A" attached hereto and incorporated herein by this reference, and to present the same to the City Council,acting as the Board of Commissioners of the URA, for further consideration and potential action. Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 1 st day of February A.D. 2011. Mayor ATTEST: City Clerk -- • Am Midtown Existing Conditions • ql � i I I i"'El—E Study Area Boundary *qd Ills IF III OF Ago L . 41 IT ope y } Ioi. 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