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F. Development Rights That MTP Obtained Under the OPA; Zoning
Change Made for the Library Square Tract by Ordinance No.
159802
As stated at paragraph D-1 above, MTP obtained certain
development rights and/or land in exchange for MTP’s specified
payments to CRA. Ordinance No. 159802 and the MTP Designated
Building Site covering the Library Square tract represented an
important part of those development rights that MTP obtained.
Without Ordinance No. 159802 and treatment of the Library
Square tract as a Designated Building Site, CRA by variation
alone could not have authorized MTP to build the Library Tower
and Grand Place Tower buildings. The effect of Ordinance 159802
and treatment of the Library Square Tract as a Designated
Building Site was to make a zoning change which (1) treated the
five Library Square parcels as one building site in order to
comply with the City Charter’s 13-to-1 building density
limitation; and (2) provided a mechanism (i.e., the covenants
running with the land) whereby the unused building density of
the Central Library and Garage Plaza parcels could be used for
the Library Tower and Grand Place Tower parcels.
The OPA and the Cooperation Agreement (1) included the
City’s agreement to the zoning change for the Library Square
tract, and (2) provided for the sale by the City and CRA to MTP
of the unused building density of the Central Library parcel.
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