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, 4 <br />The owner can rebuild with the same floor area and for similar types of uses <br />with no penalty for insufficient parking. The concept of building a two - <br />story building, allowed under the Zoning By -Taw, was discussed. In that <br />case, the building wound be treated as a new building and off- street parking <br />must be provided for the whole building. He had talked briefly with the <br />owners and they had mentioned a two -story building with underground parking, <br />permitted by the Zoning By --Taw. He pointed out the problem of a ramp needed <br />for such parking, the space it would take from the public parking lot and <br />the interference with loading and service whiah could be caused. He thought <br />it likely that some off -lot parking spaces would have to be provided, which <br />the Zoning By --Taw allows anywhere in the CB District. Since there is not <br />much privately owned space for parking elsewhere in the Center, he felt the <br />most logical approach would be to work out an _ arrangement .with the l'cwn <br />relative to the adjacent public parking lot. Because existing Town - owned <br />spaces cannot be used to meet zoning requirements for new construction he <br />felt it would mean a multi -level parking structure on the adjoining Town <br />lot, a joint venture between property owners and the Town. He noted his <br />experience with similar projects some of which 1 been successful, and <br />described several types of structures which might be considered. Tisting <br />the benefits of a parking structure, he pointed out the need to increase <br />parking spaces in the Center: removal _ of curb --side spaces to reduce traffic %now <br />problems; and its prime location near the stores. <br />He was confident that the problem of aesthetics could be solved and <br />outlined possible means of financing the pro -ject,under a Town/owner <br />arrangement. He spoke briefly about the architectural scale of development, <br />noting that a parking garage would tend to encourage even more development <br />in the Center. He saw the construction over time of two -story buildings <br />from Edison Way to the Harvard Trust driveway as a possibility; <br />Mr. Bowyer noted two major hurdles in addition to financing: <br />timing/staging and feasibility studies. He felt that any construction <br />dealing with the whole lot would best be broken into 2 or 3 stages. He <br />suggested the best short term route would be to design a two - -story building <br />with underground parking and building one story, adaptable later for <br />expansion. <br />Regarding feasibility studies, he estimated at least $50,404 for <br />engineering, legal work, architectural and financial analysis. <br />He concluded by saying there were several choices and policy decisions <br />to be made: i} si.mp?y rebuild the existing building, 2) a' cooperative joint <br />venture between the- Town and the owners, which would require decision on <br />what type of parking structure; building in stages or a? 1 at once;. h.ow to <br />finance; the extent of design review of the new building and the role of <br />other private sector interests in the Center. He saw all of these options <br />permitted within the general parameters of the Zoning By -Taw. <br />Mr. Bowyer stressed that his presentation had been an outline of <br />alternative and choices and that he was not necessarily recommending pro or <br />con on construction of a parking garage, adding that that w i l-2. be a decision <br />of elected officials and the Town Meeting. <br />Mr. Marshall asked if there would be any procedure whereby the owners <br />could seek rezoning to CD uistri^t, which does not have pre - determined <br />standards for development. <br />