The original proposal, approved in 2000, consists of 31,000-sf for underground and second-floor storage space, 4,000-sf of retail space, 37 parking spots and eleven apartment units on the third floor.
The developers have now submitted an alternate proposal, which would make ten of the apartment units affordable or designated for very low-income individuals. Under the terms of the proposal, the city would then remove certain conditions of the land-use permits and waive residential impact fees. In addition, the city would lend the developers $785,000 or use tax increments generated by the increase in assessed value of the land to pay D&M's ground lease of $60,000.
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