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ROOK F 4 608 initial approval and that only one moll -can .survive in the county, several reasons exist for the consideration of this request. The first reason is that there are no guaranteesthatthe Harbortown Mall will be built. Prior to construction, certain public infrastructure improvements must be completed or contracted; leases must be obtained, and financing must be secured. Therefore, the advantage enjoyed by the Harbortown Mall is the -land use, zoning, and DRI approval. Another reason to consider this request despite the fact that one regional mall has already received DRI approval is that preventing any other site from being considered for a regional mall would grant Harbortown a virtual monopoly. The existence of such a monopoly could encourage land speculation and actually discourage development of a regional mall in the county. That the Harbortown DRI has been approved for five years without construction having commenced raises the question of whether that project will be built. During the land use amendment review process for the Harbortown Mall, staff recognized that there is probably no single best site for such a facility and, therefore, provided opportunities for competing proposals to be reviewed. Staff feels that the subject property, like the Harbortown Mall. property, should not be used for "general commercial" development which does not have the size requirements of a regional mall. By creating a Regional Commercial land use designation and redesignating the subject property to that land use category, the proposed remedial amendments will ensure that only regional mall/regional commercial uses will be developed on the subject property. Proposed Changes to the Text of.the Comprehensive Plan Creation of a new regional commercial land use category will require changes to two policies of the comprehensive plan. The proposed changes are shown on Attachment 4. Future Land Use Element Policy 1.26a DCA, in its Statement of Intent, proposed that the county adopt a new Future Land Use Element Policy that would create a Regional _ Commercial land use designation category. As shown on Attachment ..4, Future Land -Use. Element Policy 1.26a implements that proposal. According to this proposed policy, development within the Regional Commercial land use designation must meet all of the following criteria: 1. Development will be limited to major regional malls and associated retail shopping centers whose market extends beyond the boundaries of the county. 2. Development will include at least one "magnet" retail store. 3. Development will be approved through the DRI process. 4. The minimum open space ratio will be 0.25. 5. The maximum building coverage ratio will be 0.40. 6. The maximum impervious surface ratio will be 0.75. 42 October 25, 1994