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PUD Amendment Report <br />Building N <br />April 26, 2004 <br />Page 3 <br /> <br />Revenue Implications. Without question, the financial impact to the City would be substantial <br />if the amendment were to be approved, however the lost tax revenues alone should not be <br />the determining factor in the Council’s decision. To help address the revenue issue, BBC <br />has generously offered to create the Service Project Fund and provide the City with the <br />$5,000 Economic Development donation. Because this issue has generated so much <br />discussion, it may be beneficial to summarize the tax consequences of the amendment. <br />Currently the City receives $30,391 in tax revenue from the Building N property. If the City <br />“decertified” this parcel so that it would no longer be within the TIF district, the City’s portion <br />of the taxes paid would decrease to about $26,000. If BBC’s request for the PUD <br />amendment is approved, the tax revenues would drop to zero, as religious institutions are <br />tax-exempt. <br /> <br />Recommendation: <br /> <br />As directed by the Council’s motion on April 12, 2004, a second version of Resolution 6227 has <br />been drafted which, if adopted, approves the PUD amendment requested by Bethlehem Baptist <br />Church. As was also directed, staff met with BBC representatives and revised documents have <br />been prepared in response. The options then are as follows: <br /> <br />Option 1. Approve the PUD amendment request. Resolution 6227 (Version A) is attached if <br />Council chooses this action. <br /> <br />Option 2. Deny the PUD amendment request. Resolution 6227 (Version B) is attached and <br />remains unchanged from what was presented at the April 12th meeting. As the Council is aware, <br />the City is under no obligation to amend the PUD and denial can be based solely on the fact that <br />the proposed use is inconsistent with the planned office/industrial build out for this area. <br /> <br />Option 3. Table action on this request if additional information is needed <br /> <br /> <br />Respectfully submitted, <br /> <br /> <br /> <br /> <br />Jim Ericson <br />Community Development Director <br /> <br /> <br />Attachments: <br />1. Zoning Map <br />2. “Building N” Site Plan <br />3. BBC Memo, dated April 20, 2004 <br />4. Resolution of the BBC Council of Elders (with attachments) <br />5. Resolution 6227 (both versions) <br /> <br /> <br />