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City Council Meeting <br />May 21, 2024 Page 4 <br /> <br />Parking <br />Off-street parking is required consistent with City Code Section 105.12.410. Since the proposed <br />land uses and floor areas of the proposed buildings will be subject to change based on site layout, <br />tenant, or property owner needs, etc., staff will conduct a review of parking requirements at the <br />time of site plan review. <br /> <br />Bridgewater Bank has proposed to reduce the number of parking stalls required by City Code for <br />a financial institution (proposed on Lot 3, Block 2). This amendment was reviewed by staff and <br />the Planning Commission. That review is found later in this report. <br /> <br />Signage <br />No signage is proposed on the plans or discussed in the Applicant’s narrative. The Applicant is <br />intending to install a subdivision monument sign; however the location is not known at this time. <br />Signage will be reviewed when requested by the Applicant or subsequent property owners. <br /> <br />Commercial Lot Performance Standards <br />The proposed commercial lots will be subject to other site and building design performance <br />standards which may not be mentioned in this report. Those standards include, but are not <br />limited to the City’s Design Guidelines Standards Manual, landscaping requirements, lighting, <br />parking lot landscaping, off-street loading areas, etc. No flexibility to any City standards is <br />requested by the Applicant at this time. All individual lots will have to meet the performance <br />standards in the zoning ordinance at the time of permit application. A condition has been added. <br /> <br />Landscaping and Tree Preservation: The Landscape Architect has found the tree preservation <br />plan to meet applicable City standards. The Landscape Architect has found that the landscaping <br />plans require revisions to meet City code. Seed mixes need to be changed, plan notes need to be <br />changed, and the developer needs to confirm the final plans will meet topsoil and tree irrigation <br />requirements. Therefore, staff suggest approval contingent upon satisfying the comments in the <br />Landscape Architect’s Memo dated April 11, 2024. A condition of approval has been added. <br /> <br />Parkland Dedication: The City’s ordinance requires parkland dedication in the amount of 10% <br />for Mixed Use projects incorporating a residential component. This development was brought to <br />the City’s Parks Commission during the concept plan review process, and it was determined that <br />a cash in lieu payment could be acceptable given that the property is not in a park search area. The <br />City will charge a parkland dedication fee for the first phase of the development. Of the overall <br />24.13 acres, 15.47 acres will be platted as lots, roadway, or stormwater/landscaping outlots. <br /> <br />The dedication requirement for this property is calculated by staff as follows. <br />• Step 1: 10% of 15.47 gross acres equates to 1.547 gross acres required for parkland <br />dedication. <br />• Step 2: According to recent property sale information, the fair market value per acre is <br />$107,833 dollars. <br />• Step 3: 1.547 ac x $107,833 per ac = $166,818 <br /> <br /> <br />