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<br /> <br />Resolution No. 2019-xx <br />Page 4 of 9 <br />project. The condominium ownership will allow a new tenant <br />or owner to lease or own a portion of the subdivided office <br />building, thereby identifying the area as a stable and viable <br />location for potential economic investment. <br />2. The proposed conversion of an existing commercial office <br />development includes sufficient provisions for governance, funding <br />and capitalization, and enforcement mechanisms to insure that the <br />common area continues to be adequately and safely maintained <br />and repaired for the life of the common interest development. <br />The proposed conversion includes sufficient provisions for <br />governance, funding and capitalization, and enforcement <br />mechanisms to insure that the common area continues to be <br />adequately and safely maintained and repaired for the life of <br />the common interest development. The creation of air-space <br />condominiums will not negatively affect the property or <br />maintenance of the site. The site is currently being <br />maintained by a single ownership entity and will continue to <br />operate uniformly with the establishment of new CC&Rs. <br />Additionally, the creation of a sub-association for the <br />proposed project will facilitate future maintenance between <br />the different property owners. <br />3. The proposed conversion of an existing commercial office <br />development includes sufficient provisions for the retention of such <br />common areas for the use of all owners of separate interests <br />therein. <br />The proposed conversion includes sufficient provisions for <br />the retention of such common areas for the use of all owners <br />of separate interests therein. The proposed subdivision will <br />maintain the existing parking and common areas open to all <br />condominium owners. Additionally, the CC&Rs will ensure <br />that all parties are granted proper access and parking on- <br />site. <br />4. The proposed conversion of an existing commercial office <br />development complies with the goals, policies and objectives of the <br />city’s general plan. <br />The proposed conversion complies with the goals, policies, <br />and objectives of the city’s general plan. Policy 2.8 of the <br />Land Use Element promotes the rehabilitation of commercial <br />properties and encourages increased level of capital <br />investment. The commercial condominiums will allow <br />individual ownership and increase capital investment in the <br />1-12