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SPR No. 2017-09/DBA No. 2017-02 May 21, 2018 Page 8 redevelop and produce the pedestrian -scale environment envisioned by the plan. To mitigate these Impacts, the applicant prepared a parking study that shows that providing valet service and/or a shuttle to major transit stops will reduce parking demand on the site by 150 parking spaces. The study also identifies the project and its proximity to transit will generate 105 new transit trips. Based on these factors and comparison against other major parking studies prepared by public agencies (San Diego, 2011 and Los Angeles, 2016), the parking study states that the project will have a peak demand of 349 vehicles for the residential component only and 399 parking spaces, including the commercial component. The report and staff analysis also show that the site lies along an express and a standard bus line that provide service approximately every 10 to 15 minutes during rush hour. These lines connect the project to points west (central Santa Ana, Garden Grove, and Westminster), north (Tustin, Orange, and Placentia), and east (central Tustin). As a result of the parking reduction requested for a family-oriented project, staff coordinated with the applicant to explore alternate options for reducing parking demand on the project site. In response, AMG prepared a parking management plan and draft concept for parking valet service to nearby privately -owned parking lots and to operate a shuttle from the project site to various transit stops nearby. To defer the costs of monitoring the shuttle, AMG and the City will include terms in the Density Bonus Agreement to address operations of the shuttle and/or valet service. The Planning and Building Agency, in coordination with the Public Works Agency and City Attorney's Office, have worked with the developer to refine the deal points. After careful consideration, the City and developer have agreed to the deal points, which will be incorporated into the Density Bonus Agreement and subject to review after one year. These terms are described in the "Density Bonus Agreement Deal Points" section of this staff report. 6. Additional Density Bonus Law Considerations There are no historic resources in the Immediate vicinity that would be impacted by the proposed development. The project's design and operations, with the requested incentives/concessions and waiver, will not be detrimental to public health or safety as the project was reviewed by the City's Development Review Committee, which consists of representatives from Planning, Building Safety, Public Works, Housing, the City Attorney's Office, and the Orange County Fire Authority (OCFA). Should the Density Bonus Agreement application be approved, the agreement will be authorized by the City Council after the Planning Commission considers the application for the project as a whole, including the Site Plan Review and Density Bonus Agreement applications together. Density Bonus Agreement Deal Points The applicant is currently negotiating terms of the Density Bonus Agreement with the City's Community Development Agency (CDA). The terms will include deal points that are intended to provide community benefits and services to the residents of the development and the greater Santa Ana community, and to address operations and the parking shuttle and/or valet service. Community Benefits 65C-10