Consideration and Adoption of Resolution No. 2019-43:  A resolution authorizing the execution of a Development Agreement between Ponderosa Parkway, LLC and the City of Flagstaff related to the development of approximately 11.97 acres of real property located 1650 East Ponderosa Parkway. (Miramonte at Ponderosa Parkway Condominiums Development Agreement)

State law allows the City to enter into development agreements by resolution of the City Council.  The Miramonte at Ponderosa Parkway Development Agreement will be between Ponderosa Parkway, LLC and the City of Flagstaff.  The proposed agreement governs the terms and conditions of the entitlements, "Attainable Housing," and the requirements of the Residential Sustainability Density Bonus.

No financial impacts are associated with the development agreement.

There are no policy impacts affiliated with this development agreement.

Council Goals
Support development and increase the inventory of public and private affordable housing for renters and home-owners throughout the community.

Regional Plan
A complete analysis of the Regional Plan goals and policies can be found in the Planning & Zoning Commission Direct to Ordinance Zoning Map Amendment staff report dated August 2, 2019.

Team Flagstaff Strategic Plan
Strategic Priority #4: Work in partnership to enhance a safe and livable community.

There has not been previous Council decision on this item.

1. Approve the Miramonte at Ponderosa Parkway Condominiums Development Agreement as presented.
2. Approve the Miramonte at Ponderosa Parkway Condominiums Development Agreement with additional, modified, or deleted terms.
3. Remand the Miramonte at Ponderosa Parkway Condominiums Development Agreement back to staff for additional negotiations with Ponderosa Parkway, LLC.
4. Deny the Miramonte at Ponderosa Parkway Condominiums Development Agreement.

The applicant is proposing to amend the City of Flagstaff's Rural Residential (RR) zone for an 11.97-acre parcel to High Density Residential (HR) zone.  The parcel is located on East Ponderosa Parkway, just north of Route 66, behind the existing commercial development.  The proposed development will consist of 169 multi-family residential for-sale units, constructed as 13 three-story buildings.  Each building will consist of 13 units ranging from 500 to 1,300 square feet in size.  The remainder of the parcel will be common area regulated by the homeowners' association and the property manager.  These areas include tree and steep slope resources, common open space amenities, private access easements, drainage, storm water detention facilities, and civic space.

The development agreement helps to ensure that the development of the property complies with City standards for development and engineering improvements, Regional Plan goals and policies, and City Council goals.  Staff believes that the development of the property pursuant to this agreement will result in planning, safety, and other benefits to the City and its residents.

Summary of Miramonte at Ponderosa Parkway Condominiums Development Agreement Points:

• Establishes Developer's proposed sustainability commitments, including those required to obtain a density bonus per Flagstaff Zoning Code section 10-30.70.040 Residential Sustainable Building Standards.
• Developer agrees to record separate drainage and slope easements.
• Developer agrees to designate a minimum of 10% of the total units to be sold at or below 100% of the Area Median Income ("AMI").

The applicant identifies this project as a multi-family development which provides entry-level ownership opportunities and much needed “Attainable Housing” for low income residents. The project includes 16 for-sale housing units serving buyers who earn up to 100% of area median income (AMI). The proposed project facilitates efficient use of the current commercial and transportation corridors and contributes to the growth of a preexisting mixed-use neighborhood. The required civic space also provides an amenity to the community and protects a cluster of existing ponderosa pines adjacent to the existing commercial development to the south.

The applicant conducted a neighborhood meeting on May 1, 2019, at the Aquaplex to discuss the proposed Zoning Map Amendment with the surrounding community, as required by the Flagstaff Zoning Code. There have been no specific public meetings on the Miramonte at Ponderosa Parkway Condominiums Development Agreement.