CITY COUNCIL AGENDA ITEM
ACTION REQUESTED:
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Direct staff to proceed with the Urban Land Institute Technical Assistance Panel application to receive comprehensive and strategic advice for the 5th Avenue Study Area
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DEPARTMENT: Transportation, Engineering and Development
SUBMITTED BY: Allison Laff, AICP, Deputy Director
BOARD/COMMISSION REVIEW:
Not required.
BACKGROUND:
Under new business at the July 16, 2024 meeting, City Council requested that staff prepare a report regarding the 5th Avenue Study Area, including background and lessons learned from the prior work undertaken in this area, best uses for the property moving forward, a review of financial and legal structures pertaining to a redevelopment project, and a roadmap for future project work.
Provided below is a brief overview of the formal studies undertaken in the 5th Avenue Study Area.
2009 5th Avenue Study
Following a 2.5-year public process, the City Council adopted the 5th Avenue Study on December 1, 2009. This plan included recommendations for future land use, commuter parking and multi-modal improvements in the vicinity of the Naperville Metra Station. While the adopted plan offered several transportation-related recommendations that impacted city-owned or leased property, it did not provide significant land use recommendations for the majority of these parcels (see attached future land use excerpt).
2017-2020 5th Avenue RFQ
In 2017, economic conditions, market trends, and City principles had changed substantially since 2009 which led to the City Council's endorsement of the issuance of a Request for Qualifications (RFQ) to consider developer recommendations for the 5th Avenue Study Area (see study map attached).
While the RFQ process originally envisioned the engagement of multiple developers, the selection committee recommended moving forward with only Ryan Companies as they were the most qualified submitter. On October 3, 2017, City Council approved a motion to engage...
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