downtown incentive zoning
DESCRIPTION
DOWNTOWN INCENTIVE ZONING. Julie Fitch – Downtown Austin Alliance – 09/26/2012. Public Improvement District Formed in 1993 Mission – To preserve and enhance the value and vitality of downtown Austin Philosophical Approach – We represent the property owners. WHO WE ARE. - PowerPoint PPT PresentationTRANSCRIPT
DOWNTOWN INCENTIVE ZONINGJulie Fitch – Downtown Austin Alliance – 09/26/2012
WHO WE ARE Public Improvement District Formed in
1993 Mission – To preserve and enhance the
value and vitality of downtown Austin Philosophical Approach – We represent
the property owners
Many of these buildings were constructed after 2000 and used City of Austin programs created to encourage development in the urban core.
Downtown Austin 2012Photo Credit: Michael Knox
PREVIOUS PROGRAM Smart Growth Program (1999 – 2003)
Downtown Projects given points for locating along transit corridors, complying with design guidelines, etc., and qualified for fee waivers/reimbursements
Approximately 15 projects Approximately $6 million in fee waivers and
infrastructure reimbursements Died due to negative public perception and
because it was erroneously linked with a huge public failure:
THE INTEL SHELL
2001 Dotcom Bust 2007 Implosion
WHICH BECOMES
Photo Credit: Michael Knox
CURE ZONING CURE - Central Urban Redevelopment
Combining District (1999 – 2013?) Allows cases within a geographic boundary,
including all of downtown, to seek additional FAR through zoning change
Subject to Planning Commission and City Council approval
Can take months and payment of significant consultant fees to navigate the public process
Theoretically unpredictable, but historical support
CURE CRITICISMS Unpredictable Developers get to build more
square footage “for free” Downtown residential not
affordable
Downtown Austin Development 2000-2010
10+ Projects used CURE to attain additional height or density
A Decade of Downtown Development
Downtown Austin Development 2000-2010
10+ Projects used CURE to attain additional height or density
System in which development projects can earn density above base entitlements by providing designated community benefits
DENSITY BONUS
DENSITY BONUS – HOW IT WORKS
Theory Base FAR
Entitlements Sale Price of Land Incremental SF
profit shared by developer and community
Austin CBD = 8:1 FAR ~$30/
developable SF DAA Position:
Increased tax base IS the community benefit
2008 INTERIM DENSITY BONUS Result of CoA Affordable Housing Incentives Task Force Downtown Projects can choose to achieve additional
density by seeking CURE, or may go through interim density bonus program 10% of the incremental square footage above base
entitlements must be dedicated to affordable housing, OR May pay a fee in lieu of $10/Bonus SF All development fees except parkland dedication waived Out of approximately 10 higher density projects proposed
since this interim ordinance passed, all chose to seek CURE
CONCLUSIONS
CURE is a
loopholeCURE works
Housing Advocates Downtown Austin Alliance
DOWNTOWN AUSTIN PLAN Density Bonus
Program created by HR&A
Few options to concentrate benefits
Intent = Incentivize Density
Results = ? City Council Adopted
DAP policy document December 2011 Final Version
to Change
POTENTIAL DOWNTOWN BUILD-OUT
AREAS FOR DENSITY
NEXT STEPS City of Austin recalibration and
codification process Land Development Code
Amendments Test the Theory
