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‘5 why. e28,7 C "W ' r, . / i".!, "eidiil!!'lR'lrs)'lC, Trtli't,tr, 3,: re looks If City Council approvtrs the ICC- ommendcd land use changes, a Development Agreement will be required to guide future growth. attract; (“1th that tits mm the urban fabnc of Uptown W'chrth w: haw also rec- ommendrd the Establishment " a formal Euclid} Mcnnu neighbour hood trafiirsparkirog committa- m hclp dck'rmmr: [Radium 'trt" required In address anticipattrd pro- aurcs brought on by the dcvrlupmcnr. Tht12rhrrlsttmgnL.h terloo. grrrrttrat, First United Church 'sitiittt', Both the Cay and First Gulfmust approve this agreement by the end of August in order for the development to proceed. This formalized agree. ment will address several Issues, Including: . The development will proceed in phases. The City will transfer a specific parcel "Hand once First Gulf has received the building permits for the development sperificd within that phase. . For each phase, the agreement will outline the development expected, the public space which will be developed, the parking provided, cost sharing arrangements. non-performance penalty provisions, and timelines. . The City is responsible for any environmental remediation costs required on lands it currently owns. ttr' " . The City and First Gulfwill share We are working hard to ensure that the costs of public space and the proposed development balances infrastructure, with the the needs of the entire community: exception of the large We share-your passion and concern public space at the . for Uptown Waterloo and we southeast turner of are excited about the future. Erh and Caroline Street“ which will Contact us at be fully funded by uptowninfo@city.waterloo.on.ca the city, or call 747-8546. . Approximately 2000 new structured parking spaces will The City of Waterloo Staff be constructed. The cost to construct and maintain these spaces will be shared between the City and First Gulf. The agreement will address Itingiterm financing and owe?" THE CITY OF [Sri] ship Issues related to the parking T structures. Parking will remain Wafit7i1ltto free to retail customers. .3- $13 www.cixy.watcrloo.an.ra 21