12 Preservation Bonus Staff Presentation — original pdf

Backup

Preservation Bonus Ordinance Revision 1 Outline • Background • Proposal • Timeline 2 Background • December 2023 Council approved Home Phase 1 allowing for: - Construction of up to three residential units. - Exclude existing home from floor-to-area (FAR) calculations in exchange for preserving existing home. - Two new units limited to .55 FAR or 3,200 square feet. • July 2024 Council adopted Resolution 20240718-090 to: - Revise the two new unit limit to .65 FAR or 4,350 square feet to incentivize preservation of smaller residential units. - Revise Preservation Bonus Program. 3 Proposal and Impact Proposal • Revise Land Development Code 25-2-773(4) (ii) to state two dwelling units may not exceed the greater of .65 FAR of 4,350 square feet if an existing residential unit is preserved. • Proposal does not increase allowable impervious cover. Impact • Incentivize preservation of smaller homes such that full FAR allowances can be achieved for the property. 4 Timeline • January 2025 City-wide notice sent in conjunction with Short-Term Rental regulations. • April 1 Joint Hearing of City Council and Planning Commission. • April 8 Planning Commission. • April 24 City Council conduct public hearing and adopt ordinance. 5 For Further Information: Keith Mars, Assistant Director Development Services 512-466-4598 or keith.mars@austintexas.gov 6