Title
Consider an ordinance annexing 8.4918 acres of land located at the northeast corner of Red Bud Lane and Doris Lane. (First Reading)*
Body
On April 23, 2020, the City Council held a public hearing and approved a resolution of non-objection and development agreement with Cornerstone Associates LLC regarding a senior multifamily housing project on this site. The City approved the submittal of a tax credit application for funding to build the project and Cornerstone agreed to develop according to the SR (Senior) zoning district standards, not to request tax exemptions or abatements, and to pay all applicable impact fees.
The property is contiguous to the current city limits and City water and wastewater services are available to the site. The property owners, Webster-Brostad Revocable Family Trust and Mr. David Brostad, petitioned the City for annexation. In addition, a small portion of right-of-way for Red Bud Lane is being annexed.