It is the intent of the Strategic Property Redevelopment (SPR)
Floating Zone to enable the redevelopment of underutilized municipal
properties so they can be returned to the tax rolls as applicable
or otherwise redeveloped for mixed-use, affordable and market-rate
housing and to provide criteria for the development of such uses.
Any application for an SPR Floating Zone development will require
the issuance of a special permit by the Mayor and Board of Trustees,
provided that they shall find the following conditions and standards
have been met:
A. The proposed SPR will be in harmony with the appropriate and orderly
development of the Village's Inner Village neighborhood.
B. The proposed SPR will not hinder or discourage the appropriate development
and use of adjacent lands.
C. The proposed SPR is consistent with the policies and purposes of
the Village's Local Waterfront Revitalization Program and Comprehensive
Plan.
D. The proposed SPR is otherwise in the public interest.
It shall be a condition of every granting of a SPR Floating
Zone, whether stated or not, that if an application for site plan
approval certified as complete is not presented to the Planning Board
within 24 months of the date of approval of the SPR Floating Zone
the zoning of said parcel shall revert back to the zoning of said
parcel prior to its change to a SPR Floating Zone.