75B - PH METRO EAST MIXED USE OVERLAY (MEMU)

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GPA No..2018-3, AA No:2018-6, ZOA'No. 2018-3, and SPIR No. 2018-02 Metro East Mixed Use (MEMU) Overlay Zone, and Elan projects July`23, 2018 Page 12 ;Elan'Mixed Use Proiect The Elan project is expected to produce 'up to 3,000 temporary jobs through construction and project management, and 125 permanent jobs in the commercial spaces (First Street commercial component and seven live/work lofts), and in onsite management and building service vendors (waste collection, pool servicing, fitness room maintenance, technology/IT, landscape maintenance; etc.). Its .valuation is currently estimated' at $200,000,000, which will result in approximately $17,500,000 new fees for the City. Among these fees are approximately.$8,006,000 in inclusionary housing in -lieu fees. These fees will allow the City to continue providing services to the community, portions of which will be reinvested in parks and community facilities in the project vicinity. The applicant's investment in the Elk Lane improvements is estimated to be $1,200,000. Finally, the large commercial component of the project is expected to produce additional sales and business taxes for the City. The project will be conditioned to require preservation of its commercial components in perpetuity and'to maintain its property values through site maintenance and site management. Public Outreach The City held an information session/community meeting on September 7, 2017 at the Elks Lodge building, which is located on the project site. Over 100 members of the community attended. The meeting was advertised on various forms of social media, through Neighborhood Initiatives staff, and through.a mass -mailing to 2,800 recipients that included property owners, renters, and tenants that included a'500 -foot buffer surrounding the existing and proposed MEMO areas. Following the September 7, 2017 meeting, City staff and the Elan project's applicants attended two Saddleback View and Lyon Street neighborhood associations' meetings where the MEMU expansion and the Elan project were discussed. On January 22, 2016, staff presented a work-study session on the MEMU expansion and Elan projects to the Planning Commission. Members of the Planning Commission asked staff questions about the projects, tinning, and separate parking study. Since the MEMU expansion and Elan projects' inceptions, the City has maintained topical webpages that have been updated with relevant information; plans, and other information. City staff have also met with interested parties, including property owners and tenants within and outside. the MEMU project area. While 'there have been:phone calls .and remails received throughout the course of this project, at the time of this printing, no correspondence, either, written or electronic, -had been received from.any members of the public. 75B-16