That the City Manager is requested to direct the appropriate City departments to conduct a formal and professional financial assessment of the additional value created for the owner/petitioner by up-zonings for developments of more than 50,000 square feet

City of Cambridge O-6 IN CITY COUNCIL January 28, 2019 COUNCILLOR CARLONE VICE MAYOR DEVEREUX COUNCILLOR ZONDERVAN COUNCILLOR SIDDIQUI WHEREAS: New up-zoning policies are being discussed and proposed in Cambridge neighborhoods; and WHEREAS: Up-zoning is a change in underlying zoning that creates significantly higher value for the property owner through changes of use such as: from industrial to commercial, through increased density and by increasing allowable Floor Area Ratio and/or height; and WHEREAS: The increased value per additional square foot of commercial development in Cambridge is estimated to range from $100 to $200+/per buildable square foot, depending on the site’s location; and WHEREAS: Regulatory up-zoning of properties produces significant additional development impacts, including but not limited to: local traffic generation, street parking, shading, noise, increased demand for public transportation systems, increased water & sewer demand, increased school enrollment, increased public safety demand, open space needs and other public services and mitigations and altered general quality of life for residents; and WHEREAS: The City has limited infrastructure capacity and a fiduciary duty to use that capacity to best serve the citizens of Cambridge and preserve and promote a good quality of life; and WHEREAS: Any additional grant of development rights must be considered a grant of finite public realm assets; now therefore be it ORDERED: That the City Manager be and hereby is requested to direct the appropriate City departments to conduct a formal and professional financial assessment of the additional value created for the owner/petitioner by up-zonings for developments of more than 50,000 square feet, along with recommendation of proportional contributions from said property owner/petitioner towards development impact mitigation, infrastructure improvements, community public benefits, and/or fulfilling City Council goals/projects. CHARTER RIGHT EXERCISED BY MAYOR MCGOVERN