Amend Article 5.23 of the Town's Zoning By-laws to establish special rules pertaining to the Transit Parking Overlay District
|Official Text of the Article
To see if the Town will amend the Zoning By-Law by adding the following Section 5.23:
"5.23 - SPECIAL RULES WITH RESPECT TO THE TRANSIT PARKING OVERLAY DISTRICT
1.a. With respect to any lot that is in whole or in part located within the Transit Parking Overlay District, the term "EXCESS" means the amount (if any) by which (a) exceeds (b) - wherein (a) is the off-street parking space requirements under Section 6.02, Paragraph 1, Table Of Off-Street Parking Space Requirements for the building or group of buildings located in whole or in part upon such lot as if the Transit Parking Overlay District did not exist, and (b) is the aggregate number of lawful off-street parking spaces actually provided by the building or group of buildings located in whole or in part upon such lot. In determining the EXCESS: the number of off-street parking spaces not actually provided due to variance shall nevertheless be added to (b); the number of offstreet parking spaces not actually provided due to a lawful non-conforming structure or use shall nevertheless not be included in (a); and the number of off-street parking spaces not actually provided due to a previous payment under 1.c, below, with respect to the same structure shall nevertheless be added to (b).
b. Notwithstanding the requirements of Section 5.00 and the Table of Dimensional Requirements Table 5.01, the maximum Floor Area Ratio under the Table of Dimensional Requirements for residential use on any lot that is, in whole or in part, located within the Transit Parking Overlay District shall be reduced by reducing the maximum Gross Floor Area that would result in the aforementioned maximum Floor Area Ratio for such lot, such reduction to be the product of Three Hundred Forty Nine (349) square feet multiplied by the EXCESS (if there is an EXCESS). The maximum Floor Area Ratio as so reduced shall be rounded down or up to the nearest one hundredth. Such reduction of the lot's maximum Floor Area Ratio shall not cause the lot to be removed from its zoning district.
c. In lieu of the foregoing reductions in maximum Gross Floor Area and maximum Floor Area Ratio there may instead be contributed to the Town's Housing Trust the product of $31,000 multiplied by the EXCESS as hereabove determined. Upon such contribution the maximum Gross Floor Area and the maximum Floor Area Ratio shall not be reduced as hereabove set forth. Such contribution shall be independent of any action or contribution required or allowed under Section 4.08."