2002-06 REZONING PROPERTY - NEAR NORTH REDEVELOPMENT AREA EAST OF NORTH WARREN STREET

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ECONOMIC AND URBAN DEVELOPMENT MEMO #02-03 January 14, 2002 TO: Honorable Mayor Howley and City Council FROM: Steve Garman, City Manager �� A. J. Krieger, Economic and Urban Developmen Departme Steven J. Van Steenhuyse, Planning Manag�r� SUBJECT: 1. Rezoning portions of the Near North Neighborhood from R-5, B-1,B-2 and M-1 to R-6, Multiple Dwelling District 2. Approval of a Special Use Permit for a Planned Unit Development for the New Near North Neighborhood SUMMARY RECOMMENDATION: The Plan Commission voted 8-0 with two abstentions to recommend approval of the rezoning of the subject properties and to approve the Planned Unit Development, subject to the New Near North Neighborhood PUD Development Guidelines. Staff finds that the rezoning and PUD as proposed will enable redevelopment of the Near North in conformance with the HOPE VI requirements and recommends approval. BACKGROUND: In September the City hired Goody, Clancy and Associates (GCA) from Boston to head the master planning effort for the revitalized neighborhood. As of this date, GCA has held community workshops, charrettes and public meetings and have developed concepts based on this p�ablic input. As a result of these meetings, a concept ("Concept 5")has risen to the top and GCA is currently refining it. A final draft plan based on this concept is expected to be submitted for City approval in February. In October, the Decatur Housing Authority entered into a pre-development agreement with Eastlake Development and Management Corporation of Chicago to be the developers for the Near North. Although the $35 million HOPE VI grant is a significant portion of the financing for this project, its focus is on the re-housing of the public housing residents displaced by the demolition of Longview. Eastlake is expected to bring their own funds to develop the market rate portion of the project. In addition, Eastlake is in the process of applying for Low-Income Housing Tax Credits from the State of Illinois. The deadline for tax credit applications is January 28. Applicants for tax credits compete for the limited tax credit funds by earning points for their projects. One of the areas where points can be earned is zoning. The closer the project is to having all of its zoning approvals, the more points that can be earned. Therefore, staff has initiated this rezoning and PUD in order to maximize the zoning points prior to the tax credit application deadline. The rezoning petition rezones those properties within the project area to R-6 that are not already zoned R-6. Due to the mixed use nature of the project being contemplated, R-6 is the most appropriate underlying zoning for the area. The majority of the project will be housing of