#20 - Bridgewater Village Final Plat

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City Council Meeting May 21, 2024 Page 7 payment for the required improvements with financial guarantees therefore. The agreement shall outline any approved phasing plan. 18. The Applicant or developer must enter into a separate grading agreement with the City before starting any grading activity in advance of final plat approval. The City Engineer shall review any grading plan that is submitted in advance of a final plat and said plan shall document the extent of any proposed grading on the site. 19. The Applicant must submit a revised preliminary plat and project plans meeting all conditions of approval for City review and approval. The revised Applicant project plans and other materials shall meet all of the above conditions before the City will find complete any final plat application for the development and before the start of any clearing or grading activity on the site. 20. That the Applicant must submit the final plat within 180 days after City Council approval of the preliminary plat or approval of the preliminary plat shall be considered void unless a request for a time extension is submitted in writing and approved by the City Council. ZONING TEXT AMENDMENT The Applicant is proposing to amend Table 5-2 of LEC 105.12.410 to change the ratio of stalls required for a Financial Institution. Financial Institutions are defined in City Code as follows: Financial institution means provision of financial and banking services to consumers or clients. Walk-in and drive-in services are generally provided on site. Typical uses include banks, savings and loan associations, savings banks, credit unions, lending establishments, and drive-up automatic teller machines (ATMs). Although the code is periodically updated, it has likely been years since the specific parking requirements for financial institutions were revisited. In the last decade, the industry has changed greatly in terms of how services are delivered. Many bank customers utilize digital services across different devices to replace the need to physically visit a bank, and banks have reduced the number of employees on site as a result. This trend is not expected to stop given recent advances in self-service ATMs and other digital assistance technologies. Current code requirement: 1 space per 100 sq ft of usable floor area Applicant proposed code revision: 1 space per 200 sq ft of usable floor area Staff proposed code revision: 1 space per 200 sq ft of gross floor area Example proposed: 6000 sq ft bank building (staff estimate <15 full time employees) • Current Code parking requirement – ~60 stalls • Proposed Code parking requirement – 30 stalls Other Area Municipal Ordinances • Stillwater – 1 stall per 200 sq ft floor area • Woodbury – 1 stall per 200 sq ft floor area (offices) • Cottage Grove – 1 stall per 250 sq ft floor area • Forest Lake – 1 stall per 200 sq ft floor area (offices/retail) • Blaine – 1 stall per 400 sq ft floor area • Hugo – 1 stall per 250 sq ft gross floor area