1. High Rock Lot RFP Technical Review Committee Report Presented to the Saratoga Springs City Council Thursday, February 25, 2016

2. Our Mission The High Rock Lot RFP Technical Review Committee (TRC) was appointed by the City Council in late 2015 to produce a clear, understandable, and objective comparison of the two proposals received in response to a RFP issued by the City, seeking a mixed-use project that would also accommodate a variety of parking needs. After several months of meetings and examining the two proposals, we are pleased to make this informational presentation to the public and the City Council this evening. High Rock TRC Report – February 25, 2016

3. Who We Are  Bill Sprengnether (Appointed by Commissioner Franck)  Robert Williams (Appointed by Commissioner Mathiesen)  Larry Novick (Appointed by Commissioner Madigan)  Rod Sutton (Appointed by Commissioner Scirocco)  Joseph Ogden (Appointed by Mayor Yepsen)  Tom Roohan (Representing the City Center Authority)  Brad Birge (OPED Administrator, Staff to the TRC) High Rock TRC Report – February 25, 2016

4. Overview In September 2015, the City received two very interesting, very different proposals. Paramount Realty Group submitted a detailed vision of “High Rock Village” complete schematic design set, including full plan views and elevations, and a detailed project budget. Hyman Hemispheric/Sequence Development submitted a more general proposal consisting of massing diagrams without elevations, views, etc. and emphasized the value of flexibility within the overall project that would become more detailed as the project evolved. High Rock TRC Report – February 25, 2016

5. Project Comparison Matrix In an effort to create an easy to follow, apples-to-apples comparison, TRC completed a project comparison matrix based on the following key areas of both proposals: Personnel; Amount of Type of Parking; Office/Retail; Housing; Downtown Integration; Civic Space; Jobs; Market & Assessed Value; Tax Revenue; Finance; Purchase Price; Traffic; and Engineering. High Rock TRC Report – February 25, 2016

6. Parking and the City Center TRC is concerned that neither proposal, as currently envisioned, provides enough parking to support the City’s needs, the City Center’s needs, and the parking needs that would be created by a new mixed-use project. Appears applicants have interpreted the guidance in the RFP pointing to a minimum of 600 parking spots needed to address existing needs (e.g., city, public and City Center needs), as a desired requirement. While parking is clearly not required for projects in the T-6 zone, if we employ parking standards that are applicable in other zones, we estimate that up to 400-500 more spots may be needed if the needs of the City and the City Center were met in addition to forthcoming mixed- use demand. High Rock TRC Report – February 25, 2016

7. Parking and the City Center While there are several different ways of calculating parking demand, (e.g., spot sharing, etc.) TRC feels that, regardless of the methodology employed, these proposals are significantly “under-parked”at this point. Parking needs should be considered vis-à-vis the surrounding area, and its ability or inability to absorb parking overflow. In this case, we believe that the development of the 42 space Collamer Lot, the general lack of street-space available for parking, and future infill potential (e.g., the potential development of the “Saratogian” lot) will all contribute to future parking challenges in this part of downtown. High Rock TRC Report – February 25, 2016

8. Urban Form Paramount Realty Group LLC/The Community Builders Proposes internally-oriented residential ‘village’; residential and retail uses; retail on Lake and Maple Aves; multi-level parking accessed from High Rock; upper level residential units Internally connected with open pedestrian bridges Two main structures: Lake Ave ‘Tower’ - 7 levels: level 1: sub-grad parking; level 2: retail (on Lake) ; levels 3-7: senior housing Pedestrian Village – 7 levels: level 1: sub grade parking; level 2: parking/access from High Rock (below grade on Maple); level 3: City Center parking; level 4: village ground level, retail/housing lobby on this level; levels 5-7: residential units High Rock TRC Report – February 25, 2016

9. Urban Form (Paramount Con’t) Access: Parking only from High Rock Ave; pedestrian access on York St, High Rock, Maple and Lake Aves Streetscape: - Retail on Lake Ave and, presumably, on Maple - No liner buildings on High Rock Ave; streetscape is essentially a 2-3-story parking structure with 3-story staircase water feature; no residential/commercial activity at High Rock street level - Pedestrian amenities/activities generally oriented towards inside of complex; minimal east-west pedestrian access - Significant physical separation between streetscape and interactive activities within center of site Massing: - Creates appearance of a ‘super-block’ with little façade interruption along length of Maple, High Rock Aves - 5+ story structure adjacent to York St and north; No real transition from total building height to street grade - Presents much differently from historic urban pattern; large, connected structures have uniform façades and rooflines Public amenities: - Proposes diversity of targeted housing including senior, workforce and market-rate; seniors are physically separated from other housing in Lake Ave ‘tower’. - Proposes internal ‘promenade’ as Greenbelt integration with staircase connection to points north High Rock TRC Report – February 25, 2016

10. Urban Form Hyman Hemispheric/Sequence Development Plan presents a general massing approach to the redevelopment of this site. Approx. square footage of mixed uses provided little specifics on architectural details, building materials, etc. Applicants suggest flexibility In working with the City to establish final build-out, design, etc. Mixture of uses (office, residential, retail, parking,) are presented in a series of ‘building blocks’ of varying spaces and heights up to a total of 7 levels. Access: Parking is accessed only from High Rock Ave; multiple pedestrian points of access on High Rock Ave, Lake and Maple Ave; High Rock TRC Report – February 25, 2016

11. Urban Form (Hyman/Seq. Con’t) Hyman Hemispheric/Sequence Development  Streetscape:  - Includes liner buildings with office and retail uses along High Rock; includes street-level retail along Lake Ave  - Parking generally handled below grade or toward center of parcel  - Identifies east-west ‘arcade’ pedestrian connector from High Rock to Maple/City Center and Broadway  Massing:  - Overall massing is broken up by a series of building forms of varying heights; more consistent with historic pattern of multiple individual buildings  - Building form heights generally transition to street level along east and north sides  - Proposes area of surface parking on north end adjacent to York St.  Public amenities:  - Identifies opportunity for open space, rooftop gardens and terraces at multiple locations on site  - Identifies parking/flex space on north end for civic events, farmer’s market, etc.  - Suggests to ‘funnel’ Greenbelt path along High Rock Ave corridor High Rock TRC Report – February 25, 2016

12. Engineering Hyman Hemispheric/Sequence Development Suggests excavation of the rock along the portion of the lot that is adjacent to Maple Ave. This would involve digging back into the slope from High Rock toward Maple while maintaining the elevation of High Rock as the base elevation Paramount Realty Group LLC/The Community Builders Proposes excavating into the grade of the existing lot to an elevation well below High Rock. An entire level of parking is proposed below the existing grade and in their response letter Paramount’s states that, “no rock removal” is expected. While neither project ‘s proposed engineering appears to be unmanageable, it should be noted that due to the significant presence of bedrock and flowing water in this area, the size, scope, cost and schedule of either project could be adversely impacted until a further understanding the site’s conditions are known. High Rock TRC Report – February 25, 2016

13. Finance Tax Revenues Total revenues for both project (using a similar assessment function) are very similar for total taxes, and city taxes. Hyman/Sequence - $1,898,482 ($352,704 City) Paramount Realty Group - $1,956,952 ($346,248 City) Land Acquisition See “Present Value Calculation” workbook Hyman/Sequence – $2.6 million purchase Paramount Realty Group - 30 year lease, $1.2 million property value High Rock TRC Report – February 25, 2016

14. Finance IDA Financing Both applicants expressed a need or interest in obtaining financing via the Saratoga County Industrial Development Agency (IDA), in particular the Paramount project. While approval for any project rests solely with the IDA, it is our collective understanding that residential projects featuring non- market rate units would not fit the types of projects IDA is interested in financing. High Rock TRC Report – February 25, 2016

15. Thank You Our thanks to the City Council for allowing us to make this presentation this evening. Our hope is that this information was helpful to you and the public as we consider our options for developing this significant piece of city-owned land. High Rock TRC Report – February 25, 2016