COMMUNICATION URBAN DESIGN REVIEW BOARD CITY OF DES MOINES, IOWA FEB. 18, 2014 MEETING Subject: 14TH AMENDMENT - METRO CENTER URBAN RENEWAL AREA PLAN Recommendation X APPROVE DISAPPROVE NO ACTION Prepared by: ANDREA HAUER 237-1350 [email protected] OTHER Attachment Listing: http://www.dmgov.org/government/boards/UrbanDesignReviewBoard/Pages/Meetings.aspx Summary: The proposed 14th Amendment updates the Metro Center Urban Renewal Plan with information, as required by state law, relating to the provision of tax increment financial assistance approved by the City Council, and updates the disposition parcel and projects maps. The Metro Center Urban Renewal Area encompasses the downtown and near-downtown areas. A map is attached. Scope of Review – Board to make recommendation to City Council on: Design review of renovation /remodeling/new construction for City-owned or leased project Design review for urban renewal project with specific development requirements Whether a proposed urban renewal project qualifies for funding from tax increment. Whether the level of financial assistance funded from tax increment revenues proposed for a specific individual project are reasonable and appropriate. The selection of urban renewal sites for clearance or rehabilitation and problems relating to acquisition, clearance or rehabilitation of property, relocation of displaced persons and disposition of acquired property. Skywalk System Other Urban Design Review Board Action: The Board is asked to make its recommendation to City Council on the proposed 14th Amendment to the Metro Center Urban Renewal Area Plan. Staff Recommendation: Approval Background: There is no direct fiscal impact associated with the approval of the Fourteenth Amendment. The public activities and projects that may be assisted by this urban renewal plan and tax increment revenues are now listed in the plan text. The proposed Fourteenth Amendment to the Metro Center Urban Renewal Plan: Approves the provision of financial assistance from tax increment revenues in the Metro Center Urban Renewal Area for the Hotel Randolph-Le Bosquet-Youngerman Buildings renovation, Ball Yard Lofts, Ingersoll Square/Phase 3, Principal Financial, Doyle Properties and East Village Towers as per the specific project development agreements that have been/will be approved by the City Council and includes these proposed projects in amended Appendix C—Approved Economic Development and Redevelopment Activities. URBAN DESIGN REVIEW BOARD FEBRUARY 18, 2014 AGENDA PAGE 2 Updates the Financial Condition Report to reflect the new proposed projects to be added to the listing of projects assisted with tax increment financing (TIF) contained in Appendix C and incorporating State of Iowa law changes that will decrease commercial real estate valuations by providing for a phased rollback while increasing the residential rollback rates in tax increment revenues and expenditures. Update the disposition parcel map to show the current designations and configurations of disposition parcels including two new parcels: the Walnut& 5th Parking garage property and 7th & Grand Parking Garage + former YWCA site. Metro Center Urban Renewal Area JAWA Map 1 : Boundary of Urban Renewal Area Urban Renewal Area Boundary M.L.King Jr. Pkwy. NORTH Changes to this Map: Original Plan Approved: 3/20/00 Tenth Amendment: 2/2011 Map prepared by: Office of Economic Development City of Des Moines , IA 235 235 235 City Hall Cthse.
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