9A, Holiday Inn Resuse Concept Proposal

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Cons . The property would likely be more productive for the City's tax base since a vacant property could conceivably obtain a tax abatement from the County if the property value decreases, which would reduce the City's share of the property taxes; It would keep a user in the building during the planning process and the interim use would expire still allowing for future redevelopment; It would likely reduce the number of student renters in the City's residential areas since the College would increase the mandatory age for students in College housing; The interim use permit would allow the City to enforce an expiration date on the institutional housing use; The College would use a bus to transfer students from the hotel to the College, which may reduce parking demand in and around Northwestern College; and, It would likely provide additional customers for the retail and service businesses along the County Road E conidoL . . . . . . Once institutional housing is added as an interim use, any property in the B-2 Zone could request an interim use permit for institutional housing (though it may be impractical for the other buildings in the B-2 Zone to offer such facilities); Changing the B-2 Zone at this time may have a negative psychological impact on the B-2 planning process; The interim use would be in place until 2011, which is two years after the moratorium ends. The College could conceivably request an extension of the interim use permit in three years if constmction of their new dorm is delayed (this can be restricted in the interim use agreement); and, Additional traffic from students would likely be generated even with a campus circulator bus. . . . . Provided the interim use permit is not extended beyond the initial three years, the temporary use of the hotel site as institutional housing could be beneficial, and it gives additional time to the City and the property owner to consider the appropriate redevelopment of the site. It would also keep a relatively known use in the hotel during the moratorium. While there are recognizable benefits of the short-term use of the hotel as student housing, changing the Zoning Code dUling the planning process may have a negative impact on the planning process, though the impact would be limited if property communicated to the stakeholders in the area. Generally speaking, it is better to delay significant changes to a zoning code until after a planning process is completed since the results of the planning process are not yet known. In this case, however, considering an interim institutional housing use may preserve the property for redevelopment. Attachments January 22, 2008, Letter from Northwestern College to the Mayor and City Council Febmary 4, 2008, Letter from The Davidson Companies Map of the former Holiday Inn property (1201 County Road E) liMelro-inet.us\ardenhillslPlanningIDel'elapment ProjeclsWorthweSfern College\021/08 - NWC-Holiday Inn Concept Proposal.doc Page 3 of3