- 25 -
and Fifth & Grand obtained. Without Ordinance No. 159802 and
the MTP Designated Building Site, CRA could not have permitted
by variation MTP’s development of Library Tower and Grand Place
Tower. This ordinance and the MTP Designated Building Site
effected a zoning change which (1) treated the five Library
Square tract parcels as a single building site in order to
comply with the City Charter’s 13-to-1 building density
limitation,, and (2) provided a mechanism 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.
Unlike the Library Tower and Grand Place Tower variations,
the zoning change made by Ordinance No. 159802 and the MTP
Designated Building Site produced benefits of an indefinite and
undeterminable duration. Neither Ordinance No. 159802 nor the
other operative documents for the MTP Designated Building Site
set a time limit on the duration of the MTP Designated Building
Site. Ordinance No. 159802 provides only that the terms,
limitations, and controls with respect to a designated building
site established pursuant to that ordinance, as determined by
the City Council, be placed into covenants running with the land
recorded against each parcel within such designated building
site. The covenants running with the land that the City,
Library Square, Fifth & Grand, and another entity related to MTP
Page: Previous 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 NextLast modified: May 25, 2011