Monday, February 16, 2009

Development Incentives

Several portions of the Town Center code refer to "development incentives." The concept for the proposed code is to allow greater flexibility for developers while maintaining absolute fairness from site to site. With that goal in place, a series of incentives have been built into the proposed TC-1 and TC-2 districts.

Each incentive relates to a development characteristic described as desirable by stakeholders. However, these stakeholders did not feel that every site should be required to meet each characteristic. Therefore, each has been associated with a related "benefit" for development.

The three benefits are increased permitted building height, increased residential density, and reduced parking requirement. Each incentive is only available where the give and take are related. For example, if a site develops with mixed use, a developer can take a reduction in the parking requirement. The relationship is derived by the increase in pedestrian activity, and reduction in parking need for those customers.

Characteristics which are eligible for an incentive include: Open Space Preservation, Mixed-Use Development, Green Building, Wide Sidewalks, Increased Plaza Space, Sidewalk Improvement, and Structured Parking. For each characteristic met, the developer of a project must select one of the three incentives to apply. Other incentives may be gained by meeting other characteristics.

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