20261021-003, Terms of Brackenridge Development Agreement — original pdf

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Proposed Amendments to the BDA with the University of Texas Page 1 of 5 Non-Regulatory Elements - Convey Muny to the City; - Replace existing affordable student housing on University property (not necessarily in the BDA area); - Vacate rights-of-way listed in Exhibit B if (a) reasonably feasible and public safety can be maintained; and (b) UT covers expenses to relocate utilities. Compensation for these ROWs is captured within this transaction. - Amend the University’s lease at Mueller to adjust timelines and add (1) residential uses; (2) childcare; (3) other uses that support University’s students, staff, or faculty; and (4) some non-University uses if that can be achieved without giving a gift of public funds as part of the larger transaction; and - For non-University projects in BDA: (a) Establish a tax increment reinvestment zone (TIRZ) that complies with the City’s TIRZ policy on affordable housing but not requiring the affordable housing within the TIRZ area; (b) Create a local government corporation (LGC); and (c) Adopt a regulating plan that mirrors the BDA (as amended). Proposed Amendments to the BDA with the University of Texas Page 2 of 5 Regulatory Elements As Applied to Non-UT Projects Summary of Primary Development Standards Entire area = 190.26 acres FAR for the entire area is .6:1 • But because of setbacks from the river, a tributary, and Lake Austin Blvd, the amount of land that can be developed is less than 190.26 acres. • Since the land that can be developed is less than 190.26 acres, the per site development can exceed .6:1 FAR; however, no site can exceed 5:1 FAR unless Council authorizes an increase in FAR for the site using the process to rezone property. • The University understands that the FAR for sites developed later may be less than .6:1 or may be undevelopable because of the FAR limitation as it is applied to the entire area. The University agrees that the City is not responsible for resolving any disputes that may arise due to a lack of remaining FAR. In no instance can a building be taller than 65 feet when measured from LAB. • Max height for buildings constructed contiguous to LAB and north of LAB is 65 feet except that development can utilize Section 25- 2-531 (Height Limit Exception). • Max height for buildings constructed south of LAB but not contiguous to LAB cannot exceed 105 feet except that development can utilize Section 25-2-531 (Height Limit Exception). • Compatibility requirements apply north of LAB. • Section 25-2-744 does not apply to the entire area. Overall impervious cover for the entire area is 75%. • Max building coverage is 75% per site. • Max impervious cover for sites is 85% per site. • Impervious cover can be transferred between sites. Proposed Amendments to the BDA with the University of Texas Page 3 of 5 Development Process Current BDA: Does not follow standard processes. Follow standard development review processes. Dispute Resolution Current BDA: Varies Create a simplified version of dispute resolution Floor-to-Area Ratio [total gross area] Current BDA: .4:1; .45:1 [total gross area = 1.7 million] Entire area = 190.26 acres and overall FAR for the entire area is .6:1 The per site development can exceed .6:1 FAR; however, no site can exceed 5:1 FAR unless Council authorizes an increase in FAR for the site using the process to rezone property. The University understands that the FAR for sites developed later may be less than .6:1 or may be undevelopable because of the FAR limitation as it is applied to the entire area. The University agrees that the City is not responsible for resolving any disputes that may arise due to a lack of remaining FAR. Uses Current BDA: Tract-level allowed/prohibited uses. South of LAB – See Exhibit A-1 North of LAB – See Exhibit A-2 Density: Multi- family Current BDA: 22 units/acre No density limit on multi-family use. Building Setback from Street Current BDA: Varies 25 feet from right-of-way that existed at the time the BDA is amended plus streetscape improvements (similar to Subchapter E). Proposed Amendments to the BDA with the University of Texas Page 4 of 5 Lot Size Min. Current BDA: Residential Only limit is current Code that applies to single-family residential. Height Current BDA: Ranges based on tract Max height for buildings constructed contiguous to LAB and north of LAB is 65 feet except that development can utilize Section 25-2-531 (Height Limit Exception). Max height for buildings constructed south of LAB but not contiguous to LAB cannot exceed 105 feet except that development can utilize Section 25-2- 531 (Height Limit Exception). Compatibility requirements apply north of LAB. Section 25-2-744 does not apply to the entire area. Impervious Cover Current BDA: SF homes: 30% Cluster/townhouses: 60% Remaining: Ranges 75% to 90% 75% across 190.26 acres Site specific IC: Single-Family Residential (that is not multi-family) - 45% All other sites – 85% with the ability to transfer IC from another site. Building Coverage Current BDA: 50% 75%/site Setback from Lake Current BDA: Total is 200 ft. Consistent with the existing BDA, the setbacks from the Lake are 150 feet (primary) and 50 feet (secondary). Setback from Tributary Current BDA: Not defined Current Code for minor waterway with an allowance for crossing the waterway with roadway. Proposed Amendments to the BDA with the University of Texas Page 5 of 5 Drainage & Water Quality Current BDA: Not defined Follow existing City Code. Trees Current BDA: No regulations Reach a compromise between existing City regs and UT’s existing tree policy related to heritage trees. Cut & Fill Limits/Regs Construction on Slopes Critical Environmental Features (CEF) Current BDA: No limits Consistent with existing BDA. Current BDA: No limits Consistent with existing BDA. Current BDA: No regulations for CEFs. The parties agree to assess the CEFs on the land situated south of Lake Austin Blvd. Note: CEFs will not include man-made CEFs. Once the CEFs are known, the parties agree to work together to determine whether buffers are required and, if buffers are required, the scope of the buffers.