Laserfiche WebLink
City Council Staff Report November 5, 1999 <br />A-99-2 & PD-99-2 Page 6 of 8 <br />• Amend the wording of Condition XII. D., to require that all sides of fencing and walls within <br />the project site shall remain graffiti -free. <br />Library -Historical Commission <br />At the Library -Historical Commission meeting of October 19, the Commission reviewed the <br />concept of having a wrought iron fence in the front yard of the Victorian home and the color <br />scheme considered for the home. The applicant presented an exhibit that included brick pilasters <br />and low wrought fence sections between them. The Commission's review and discussion <br />included that it could not see the enhancement value of the wrought iron fence and brick pilasters <br />in the front of the home. Thus, the Commission voted to delete the need for wrought iron <br />fencing in front of the home. <br />The colors selected for the home were favorably received by the Commission. It approved tan as <br />the base color for the home, white for the trim (i.e., top band, window trim, porch rails and <br />gutters), taupe as the accent color on the window sashes, and black as the color for the existing <br />wrought iron on the building's porch and second floor balcony. <br />ENVIRONMENTAL REVIEW <br />A Mitigated Negative Declaration had already been prepared for this project. There was no major <br />revision to the proposal to cause additional impacts, such as number of units, height of structures, <br />building square footage or types land use. The Mitigated Negative Declaration and its mitigation <br />measures remain adequate for the proposed project. Actually, potential visual and land use <br />conflicts have been significantly reduced with the revised plan. <br />FISCAL IMPACTS <br />The direct fiscal benefits of the project to the City include collection of the transient occupancy <br />tax and property tax increments since the project is located in the joint City/County <br />redevelopment area. A projected occupancy of 65 percent at an average room rate of <br />approximately $79 would generate room revenues of approximately $2.25 million dollars. Thus, <br />a transient occupancy tax of 10 percent would generate $225,000 to the City. <br />To project the expected property tax increments from the project, the difference between the <br />existing assessed value of the property and the new assessed value will have to be estimated. <br />The new assessed value will be based on the increase in land value from the sale of the hotel <br />parcel and the value of proposed on -site improvements on both parcels. The tax increments <br />would be shared 50150 between the City and County Redevelopment Agencies. Based on the <br />information to date, the estimated City's share of the Agency's tax increment could range <br />between $15,000 to $25,000. <br />N <br />