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8.4 TIME LIMITS <br />MEMU Site Plan Review shall automatically become <br />void after two (2) years from the effective date of such <br />approval when the owner fails to institute an action to <br />erect, build, alter, move or maintain the use of the <br />property as specified in the terms and conditions of the <br />MEMU Site Plan Review. City Council may, by resolution, <br />extend the date on which a MEMU Site Plan Review <br />becomes void for a period or periods not exceeding <br />three (3) years in total beyond the date it would otherwise <br />become void. <br />Acceptable action shall be considered to be <br />actual construction, alteration, repairs and use of the <br />structures and land. Preparation of plans, financial <br />negotiations, or change of property owners are not <br />considered sufficient evidence of action. <br />8.5 DEVELOPMENT CAPACITY MONITORING <br />AND ENVIROMENTAL REVIEW <br />In order to maintain conformity with the provisions of <br />the environmental analysis completed for this project <br />under the California Environmental Quality Act (CEQA), <br />development capacity within the MEMU Overlay Zone <br />shall be limited to 1.27 million gross square feet of <br />commercial (retail and service) and 3.41 million gross <br />square feet of office space. This corresponds to a <br />potential net increase of 963,000 square feet of <br />commercial, and 690,000 square feet of office space, <br />and the potential for 5,551 residences above existing <br />development constructed prior to March of 2007. When <br />new development within the MEMU Overlay Zone <br />reaches 80 percent of the allowable increased capacity, <br />)ment shall be entitled until an environmental <br />review, including a traffic study, has been <br />completed pursuant to CEO -A. These development <br />capacity "triggers" are as follows: <br />a. Commercial -770,400 square feet <br />b. Office -552,000 square feet <br />C. Residential -4,440 units <br />