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Conway planning commission approves University Suites preliminary plan, recommends reduced open-space fee to council with conditions
Summary
The commission approved the University Suites preliminary plan and a design modification to accept a contracted post-development value of $569,000 instead of a written appraisal. It recommended a reduced fee-in-lieu (applicant's requested $52,152.86) to City Council contingent on staff verification of contract documentation and covenants ensuring access to amenities across the street.
The City of Conway Planning Commission on Jan. 8 approved the preliminary plan and a design modification for the proposed University Suites student-housing expansion and recommended a reduced open-space fee to City Council with conditions.
City planning staff told commissioners the Unified Development Ordinance requires 1,000 square feet of open space per unit, which for the applicant's 24-unit expansion equals 24,000 square feet. Using the applicant's contracted post-development value of $569,000, staff calculated a base fee-in-lieu of $179,142 that, after the ordinance's 125% multiplier, would require $224,000 under current rules. The applicant proposed instead to use the contracted amount as the valuation and, accounting for 17,009 square feet of…
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