Form revised December 4, 2006

FISCAL NOTE FOR NON-CAPITAL PROJECTS

Department:	Contact Person/Phone:	DOF Analyst/Phone:
DPD	Lish Whitson/233-0079	Karen Grove/684-5805

Legislation Title:

An ordinance related to land use and zoning, amending Chapters 23.48, 23.49, 23.50, 23.76, 23.84A and 23.90 of the Seattle Municipal Code; allowing additional height and density within a defined area of Industrial Commercial zones in the South Lake Union Urban Center; providing bonus floor area for affordable housing and child care in that area; allowing transfer of development rights to lots in that area from Landmarks and certain other properties; modifying exemptions from floor area limits for projects in the South Lake Union Urban Center; and making technical revisions.

· Summary of the Legislation:

The proposed Council Bill will amend the Land Use Code to allow development to exceed current height and density limits within a defined area in the South Lake Union Urban Center.  The proposed legislation allows development up to one hundred and sixty feet, with a floor area ratio (FAR) of seven, if the following requirements are met:

· Use of housing and childcare bonuses or Transfer Development Rights for two FAR;

· Building a LEED^TM Silver building;

· Development of a Transportation Management Plan that will result in no more than 40% of employees in the building driving alone to work;

· Development of an energy management plan that will reduce impacts on the electrical system;

· Meeting the Seattle Green Factor; and

· Meeting development standards from the Seattle Mixed Zone.

In addition, the legislation would change what areas are subject to the FAR limits in the IC zone in the South Lake Union Urban Center.

· Background:

The proposed legislation would implement policies established in the South Lake Union Neighborhood Plan, which was updated as part of 2006’s Comprehensive Plan amendment process.  The legislation responds to the proposed move of a major business to the South Lake Union Urban Center.  It proposes to use a set of incentives that have been used in Downtown Seattle to encourage both more concentrated development and the provision of a series of public benefits. 

· Please check one of the following:

__X__ This legislation does not have any financial implications.

Attachment 1: Director’s Report and Recommendation

Attachment 2: SEPA Checklist

Attachment 3: SEPA Determination of Non-Significance