(8)   Transit Improvements. 623
(a)   Criteria.
A floor area bonus or building height bonus, as applicable, may be earned by improving, connecting to, constructing or extending a rail, subway, or trolley transit station or stop, concourse, or water taxi station, provided that the project meets the following standards:
(.1)   The applicant shall submit a letter from the appropriate transit authority confirming that the transit authority approves the portion of the project that will be constructed on its property.
(.2)   Qualifying improvements made by the applicant may include any of the following:
(.a)   New access easements or improvements to connecting passageways, mezzanines, or concourse areas;
(.b)   Constructing a new rail, subway, trolley transit or water taxi station;
(.c)   Extending the concourse of an existing rail, subway, or trolley transit station or expanding an existing water taxi station;
(.d)   Permanent structural improvements, not including routine maintenance or repairs, to an existing rail, subway, trolley transit, or water taxi station or stop; or
(.e)   Streetscape improvements in excess of the minimum code requirements that enhance pedestrian and bicycle connections to an existing rail, subway, trolley transit, or water taxi station or stop. Streetscape improvements provided to earn the transit improvement bonus shall be approved by the Commission for the provision of safe and attractive pedestrian and bicycle routes to transit.
(.3)   For the /CDO overlay district, transit improvements may be located within 1,320 ft. of the district.
(.4)   The applicant shall post a bond or letter of credit in an amount equal to one hundred percent (100%) of the estimated cost of constructing the transit improvements in a form and with financial entities acceptable to the City or its designee. The required transit improvements must be completed upon issuance of the Certificate of Occupancy for the first permanent structure on the property, and the bond or letter of credit must be kept in force until the completion of the required improvements.
(b)   Bonus Floor Area or Building Height. 624
The additional gross floor area or building height earned by providing transit improvements is:
 
Additional Gross Floor Area, as Percentage of Lot Area
Additional Building Height
CMX-3
(within /TOD only)
CMX-4
CMX-5
/CDO
25% of lot area per each 1% of estimated building hard costs spent on transit improvements, up to a maximum of 100% of lot area
50% of lot area per each 1% of estimated building hard costs spent on transit improvements, up to a maximum of 200% of lot area
100% of lot area per each 1% of estimated building hard costs spent on transit improvements, up to a maximum of 400% of lot area
12 ft. per each 1% of estimated building hard costs spent on transit improvements, up to a maximum of 72 ft.
 

 

Notes

623
   Amended, Bill No. 130274 (approved June 25, 2013).
624
   Amended, Bill No. 170162 (approved July 11, 2017).