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CVS Report <br />May 5, 2004 <br />Page 2 <br /> <br />unusable unless it is further subdivided and added to an existing lot. The current landowners <br />have expressed a desire to leave the parcel natural to act as a buffer from the new <br />development area, however there is a possibility that Lot 4 could be used in the future for <br />additional ponding for the area. Lot 4 has a proposed area of 36,687 square feet. Staff <br />recommends Lot 4 be renamed Outlot A. <br /> <br />The Zoning Code requires that R-4, High Density Residential and R-3, Medium Density <br />Residential lots have a minimum area of 11,000 square feet. Lot 4 (to be renamed Outlot A) <br />will remain zoned R-3 and will have an area of 36,687 square feet, although the lot could <br />decrease in size if the CVS pond needs to be expanded. Lots 1 and 2 will be zoned B-3, <br />Highway Business. Code only requires that the lot size be sufficient for the building to meet <br />the required setbacks. Lot 1 has an existing building that does not meet the side setback <br />requirement of ten (10) feet on the east side. The proposed plat would add twenty-five (25) <br />feet to the east side, thereby allowing the building to meet that setback requirement. The <br />CVS Pharmacy is proposed for Lot 2. The building satisfies all setback requirements and <br />therefore the lot meets the size requirement. <br /> <br />As shown on the plat, Lot 3 (Silverview Terrace) would NOT meet the City’s minimum lot <br />area requirements. The Zoning Code requires that there be 2,500 square feet of land for <br />every dwelling unit on the lot. Silverview Terrace has 23 dwellings, thus the minimum area <br />for the complex is 57,500 square feet. At 53,165 square feet, the lot would be 4,335 square <br />feet below the minimum. To correct this deficiency, staff would recommend that the shared <br />lot line between Lots 3 and 4 be shifted to the west by approximately 15 feet. Lot 4 will <br />maintain the R-4 zoning designation. <br /> <br />Plat Format. The preliminary plat itself is lacking in detail and will need to be further refined <br />to reflect all of the data necessary for preliminary plat submissions. Further, the general <br />notes indicated on the plat do not match up with the plat, as if the notes were left over form a <br />previous plat design. The following is a list of revisions that will be necessary before action <br />can occur on the preliminary plat: <br /> <br />• Name of the Plat <br />• Existing and Proposed Legal description of the properties <br />• Existing and proposed lot dimensions <br />• All existing lot lines need to be shown <br />• Survey data, including measured distances and corner angles <br />• Easement over pond area <br />• Shift common lot line between Lots 3 and 4 to the west by approximately 15 feet <br /> <br />Park Dedication Fees: Park dedication fees are applicable for this subdivision, in an amount <br />equivalent to ten percent of the market value of the land being developed. Lot 2 of the plat, <br />the CVS parcel, is the only Lot that would be more intensely developed than its current use. <br />Therefore, Staff recommends that the park dedication fee be applied to the market value of <br />proposed Lot 2 based on per square-foot land value of $8.05. Lot 2 has an area of 95,092 <br />square feet thus has a value of $765,490. The park dedication fee for this development is <br />$76,549 which amounts to 10% of the land value. The City Council however has the <br />discretion to choose another method for determining the value of the property and may <br />choose to exercise that right when they are reviewing the plat.