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,IR No. 99-01, AA No. 04-01, <br />GPA No. 04-01, and ZOA No. 04-02 <br />February 23, 2004 <br />Page 4 <br />Subsequent approvals needed for this project include a tract map to <br />merge the various parcels into one site and to abandon Sycamore <br />Street, a conditional use permit for the sale of alcoholic beverages, <br />Airport Land Use Commission approval, a conditional use permit to <br />operate a helipad on the top of the building, an encroachment <br />permit/maintenance agreement for the fountain to be located in the <br />roundabout, and an easement from the State of California to allow the <br />roundabout to encroach on State property. Additionally, the <br />acquisition of two off -site properties, located at 1702 North Main <br />Street and 1702 North Broadway, will need to be completed as <br />mitigation measures for the 'project. The acquisition and street <br />improvements associated with these parcels must be completed prior to <br />recordation of the final parcel map, unless an off -site improvement <br />agreement is approved. <br />Analysis of the Issues <br />.n 1999, Caribou Industries developed a plan to construct a major <br />office building in the downtown area. Over the years, the plan has <br />been modified to address the concerns of various interested parties. <br />Based on this input, Caribou has proceeded with a project that will <br />create a City landmark due to the height and scale of the project, <br />provide Class A office space that will attract high -profile tenants <br />to support.the cultural and business activities of the central city, <br />revitalize the central city by acting as a catalyst, provide a world <br />class restaurant on the upper level, strengthen the urban identity of <br />downtown, enhance the Broadway corridor through the design and public <br />spaces to be provided, increase employment opportunities, provide <br />additional parking for the project and surrounding area, and provide <br />a positive fiscal impact to the City. <br />Environmental Impact Report <br />The California Environmental Quality Act (CEQA) requires the <br />preparation of an environmental impact report (EIR) for this project. <br />The environmental issues analyzed in the EIR included air quality, <br />cultural resources, land use, geology, hydrology, safety hazards, <br />Population/housing, public services and utilities, aesthetics, noise, <br />traffic and circulation. In accordance with 'CEQA, a draft EIR was <br />irculated to the public, local, regional and state agencies on July <br />s0, 2003 for a 45-day public review period. On September 2 and 3, <br />2003, community meetings were held to provide additional information <br />