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core principles can be preserved. By keeping the regulating plans outside of the City Code, this 76 creativity and amendment process can be more easily facilitated. 77 The regulating plan and the large amount of land use flexibility in the CMU district are tied 78 together. If the regulating plan is removed as a tool, land use flexibility would generally be 79 expected to need to be reduced due to the loss of regulating plan protections, possibly reverting 80 to more of a traditional zoning approach with a series of limited use districts throughout the Twin 81 Lakes area. 82 If the desire is to preserve the land use flexibility of the CMU district, facilitate placemaking and 83 seek the creation of special places that form based systems can enable, one alternative would be 84 to retain the regulating plan as a tool but modify or eliminate the Cuningham Plan to better 85 represent what is desired in the area by the City Council, neighborhoods and landowners. 86 Modifications of the Cuningham Plan could be initiated by the City or by individual property 87 owners as development proposals come forward. Individual property owners may have ideas 88 that retain the core concepts but accomplish it in a different, more creative manner. 89 It should also be noted that the area east of Fairview Avenue does not have any regulating plans 90 at this time. If the regulating plan tool is retained, regulating plans would need to be created east 91 of Fairview Avenue for redevelopment to occur. This could be initiated by the City or private 92 landowners and there would not have to be a single regulating plan for that large area, but could 93 instead have a series of smaller but interconnected regulating plans if that is a preferred 94 approach. 95 PO OLICYBJECTIVE 96 The policy objective of this discussion is to continue to refine the regulatory framework in the 97 Twin Lakes area to balance the many interests and visions for this important redevelopment area. 98 BI UDGET MPLICATIONS 99 If the City Council were to decide that it would like to create a City initiated regulating plan on 100 the area east of Fairview Avenue, a consultant would likely need to be retained to assist in that 101 effort. 102 SR TAFF ECOMMENDATION 103 1.If the regulating plan process is retained, Staff would recommend removing the detail 104 from the Cuningham Plan out of the City Code and adopting it by reference. 105 2.Given the advanced stage that a number of developers are currently at in putting real 106 estate deals together, staff would recommend that the City Council allow developers to 107 propose modifications or entirely new regulating plans to avoid further delays. Since the 108 regulating plan is a rezoning, the City Council would have broad discretion to approve, 109 modify or deny any developer initiated regulating plan. Staff would propose to treat 110 developer initiated regulating plans in a similar process as planned unit developments are 111 often handled. 112 a.If a developer were to propose a new or modified regulating plan, Staff would 113 recommend an early stage public process that would similar to the current 114 developer meetings with plats. However, it would be beneficial to provide 115 additional flexibility with timing to encourage developers who desired to involve 116 affected parties early in the design process (for instance,with a charrette process) 117 that this would satisfy the required notification process as well. 118 Page 3 of 4