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RESOLUTION NO. 2019-xx A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA (1) ADOPTING ENVIRONMENTAL FINDINGS OF FACT PURSUANT TO THE CALIFORNIA ENVIRONMENTAL QUALITY ACT, (2) CERTIFYING THE FINAL ENVIRONMENTAL IMPACT REPORT (SCH #2018021031), (3) ADOPTING A STATEMENT OF OVERRIDING CONSIDERATIONS FOR THE PROPOSED PROJECT, (4) ADOPTING THE MITIGATION MONITORING AND REPORTING PROGRAM, AND (5) APPROVING THE PROPOSED MAGNOLIA AT THE PARK MULTI -FAMILY RESIDENTIAL PROJECT LOCATED WITHIN THE CITY OF SANTA ANA AT 2525 NORTH MAIN STREET BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby finds, determines and declares as follows: WHEREAS, AC 2525 Main, LLC ("Applicant") seeks to develop the Magnolia at the Park Multi -Family Residential Project ("proposed Project") a 496 -unit multi -family project on a 5.93- acre site at 2525 North Main Street in Santa Ana, California ("Project Site"); WHEREAS, the proposed Project entails, among other things, (1) demolition of the existing 81,172 square foot vacant two-story office building and 442 -space surface parking lot on the Project Site; (2) redevelopment of the 5.93 -acre site with 930,705 square feet of total development, including 405,290 square feet of residential buildings that would provide 496 for -rent multi -family residential units and a 358,630 square foot central parking/fitness center/club room structure; (3) approval of Development Agreement No. 2018-01 between the City of Santa Ana ("City") and Applicant; (4) approval of General Plan Amendment No. 2018-06, which would change the Project Site's existing land use designation of Professional & Administration Office (PAO) to District Center (DC); and (5) approval of Amendment Application No. 2018-10, which seeks a zone change for the Project Site from Professional (P) to Specific Development No. 93 (SD -93) designation; and WHEREAS, the proposed Project has been submitted and requires review and certification of an Environmental Impact Report (the "EIR") (SCH# 2018021031) (Environmental Impact Report No. 2018-01), and approval of Development Agreement No. 2018-01, General Plan Amendment No. 2018-06, and Amendment Application No. 2018-10; and WHEREAS, the Project Site is located at the northeast comer of North Main Street and Edgewood Road and the properties immediately adjacent to the site include Santiago Park to the north, single-family residential homes to the south and east and Exhibit 2 75E-29