AGENDA #4

MEMORANDUM

TO:                  Mayor and Town Council

FROM:            W. Calvin Horton, Town Manager

SUBJECT:      Concept Plan:  Downtown Economic Development Initiative, Wallace Parking Deck

DATE:            March 20, 2006

Tonight, the Council considers a Concept Plan for the Wallace Parking Deck, located at 150 East Rosemary Street at the Henderson Street intersection.

This proposal involves retaining the Wallace Parking Deck and construction of approximately 6,000 square feet of retail floor area and 99 residential dwelling units.  A 12,000 square foot site at the southwest corner of East Rosemary Street and Henderson Street is also included as part of this proposal.  In accordance with the Land Use Management Ordinance, there has been no staff review of this Concept Plan.

We recommend that the Council review this Concept Plan, receive comments from the Community Design Commission, Historic District Commission, and citizens, and adopt a resolution transmitting comments to the applicant.

The attached memorandum for the Concept Plan proposal includes background information on the Concept Plan process, the applicant’s materials, and additional related information.