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75E - PH 2525 MAIN ST
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75E - PH 2525 MAIN ST
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Last modified
2/1/2019 4:04:49 PM
Creation date
2/1/2019 3:58:07 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
75E
Date
2/5/2019
Destruction Year
2024
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EXHIBIT B <br />Statement of Overriding Considerations <br />8. The Project would provide additional multi -family housing to support the regionally forecasted <br />increase in economic activities and employment increases. <br />9. The Project would redevelop an underutilized parcel to implement high-quality multi -family <br />housing with recreation amenities, near transportation facilities and utilizing existing <br />infrastructure capacity. <br />10. The Project would improve storm water filtration, such that unfiltered runoff would no longer be <br />conveyed to Santiago Creek. All of the runoff from the site would be conveyed to infiltrating <br />landscaping areas and catch basins that would improve the existing storm water quality that <br />conveys to the creek. <br />11. The Project would install additional 24- and 36 -inch box trees and tree wells along the Edgewood <br />Road and N. Main Street right-of-way, providing additional public street trees. <br />12. The Project would result in the creation, installation, and maintenance of a public art project with <br />a value equivalent to one-half of one percent of the total construction cost of the Project, pursuant <br />to a development agreement entered into between the City and the Project Applicant, AC 2525 <br />Main St., a California limited liability company ("Project Applicant"). <br />13. The Project would result in the Project Applicant providing $1,400,000 to the City for future park <br />maintenance and for the purpose of completing park improvements including, but not limited to, <br />installation of irrigation, landscaping, security lighting and bike trail enhancements to Santiago <br />Park. <br />14. The Project would result in the Project Applicant providing $100,000 to the City for future <br />maintenance of the three new entry monuments. <br />15. The Project would result in providing benefits to the Park Santiago neighborhood for a period of <br />55 -year (subject to annual review) including access to on-site amenities and Amazon locker, <br />private 24-hour roving security patrol of Santiago Park and the Park Santiago Neighborhood. <br />16. The Project would result in the Project Applicant performing all tasks necessary, and paying all <br />fees, not to exceed one hundred fifty thousand dollars ($150,000), associated with processing an <br />application for consideration of the designation of the Santiago Park Neighborhood Association <br />as a local historic district on the City's Historical Register. Provided the members of the Santiago <br />Park Neighborhood Association support creation of a Park Santiago Historic District. <br />17. The Project would result in the Applicant preforming the analysis, design, engineering, <br />construction, and inspection/administration of (1) Santiago Park neighborhood improvements at <br />up to three locations on Edgewood and/or Bush Street to achieve traffic calming and traffic <br />diversion. Improvements may be based on input from the Santiago Park Neighborhood <br />Association and may include, but not be limited to, bulb -outs, traffic circles and medians within <br />the neighborhood streets. (2) Santiago Park Neighborhood entry monuments at Main <br />Street/Edgewood Road, Santa Clara Avenue/Lincoln Avenue, and Santiago Street/17th Street <br />based on input from the Santiago Park Neighborhood Association. (3) Street lighting <br />enhancements within the Santiago Park Neighborhood. (4) A street light at the Santiago Park <br />Resolution No. <br />Certification of the Magnolia at the Park EIR <br />75E-108 <br />Page 70 of 71 <br />
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