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Development Agreement No. 2004-01 <br />tentative Parcel Map No. 2004-02 <br />une 14, 2004 <br />Page 2 <br />The subject site is zoned Midtown Specific Plan No. 3 (SP-3) and has a <br />General Plan Land Use designation of Professional and Administrative <br />Office (PAO), which permits office development at a floor area ratio of <br />1.0. <br />Project Description <br />Caribou Industries is proposing the construction of a 518,003 square foot, <br />37-story, 493-foot tall office tower. The building will contain 490,003 <br />square feet of office space, 10,000 square feet of retail space and 18,000 <br />square feet of restaurant dining area. In addition, four buildings <br />totaling 12,484 square feet that are currently on the project site will be <br />used for office and restaurant purposes. <br />A nine -level freestanding parking structure (one sublevel and eight levels <br />above ground) with a height of 78 feet will be provided for the project. <br />A total of 2,463 parking spaces are proposed within this structure. <br />Approximately 3,200 square feet of retail/restaurant space will be <br />rovided on the ground level of the structure. <br />Several traffic improvements will be made for this project. Tenth Street <br />will be converted to a one-way, eastbound only street, with Washington <br />Avenue converted to a one-way, westbound only street. Also, a roundabout <br />will be constructed at the Tenth and Sycamore Streets intersection. <br />Finally, a new pedestrian drop-off will be created for the Orange County <br />High School for the Arts (OCHSA). This drop-off, to be located in the <br />parking lot of a former church at 920 North Main Street, will replace the <br />existing drop-off zone on Sycamore Street. <br />Seven structures on the project site are classified as historically <br />significant. The project will require the removal of three structures <br />(1007-1009, 1015 and 1109 North Broadway) that are listed on the Santa Ana <br />Register of Historical Properties. The remaining four historic structures <br />(1103, 1111, 1115-1117 and 1211 North Broadway) will be rehabilitated and <br />converted to office and commercial uses. <br />Subsequent approvals needed for this project include a conditional use <br />permit for the sale of alcoholic beverages, Airport Land Use Commission <br />approval and a conditional use permit for a helipad, an encroachment <br />permit/maintenance agreement for the fountain in the roundabout, and an <br />>asement from the State to allow the roundabout to encroach on State <br />roperty. Additionally, two off -site properties (1702 North Main Street <br />and 1702 North Broadway) need to be acquired as mitigation measures for <br />the project. <br />