75C - PH MORTIMER MIXED USE - Laserfiche WebLink

Home Browse Search

SPR No. 2020-03/ VAR No. 2020-06/AA No. 2020-04 — 4th and Mortimer Mixed -Use Development October 12, 2020 Page 11 Transportation A traffic impact analysis (TIA) was prepared and conducted by Linscott, Law & Greenspan, Engineers (LLG) and peer reviewed by the City's CEQA consultant to determine the potential traffic impacts associated with the proposed project. The traffic analysis evaluated the existing operating conditions at six key study intersections within the project vicinity immediately bordering the subject property, estimated the trip generation potential of the proposed project, and forecasted future near -term (Year 2024) and long-term (Year 2045) operating conditions without and with the proposed Project. Two of the six intersections were also evaluated for the approved TZC, including Fourth Street at French Street and Fifth Street at Mortimer Street. The TIA's Level of Service (LOS) investigations at these key locations were used to evaluate the potential traffic -related impacts associated with area growth, cumulative projects and the proposed project. The TIA indicates that the proposed project would not result in an increase in intersection traffic impacts beyond those analyzed in the 2010 EIR for the approved TZC. Furthermore, TIA indicates that the proposed project would result in a net reduction of 173 daily vehicle trips to the project site compared to existing commercial uses. Economic Development A fiscal and economic impact analysis prepared by RSG, Inc. and The Concord Group was submitted for the project. The analysis estimates that the proposed development will result net positive fiscal impacts to the City, the Business Improvement District, and create over 800 new temporary or permanent jobs. Specifically, the analysis estimates the following impacts: • $5.4 million net new General Fund revenues associated with the project over a 25-year period, resulting from: o A total of $7.8 million in additional City General Fund revenue, including $2.9 million in net new property tax revenues, construction period revenues, recurring site -specific tax, and other Project impacts over a 25-year period, and o $2.4 million in General Fund expenditures associated with the project over a 25-year period 806 direct, indirect, or induced new jobs resulting from the project, of which 35 would be permanent Approximately $205,424 in Business Improvement District (BID) funds Table 3: Public Notification & Community Outreach Required Measures A community meeting was held on August 29, 2018 at 6:00 p.m. at 450 West Fourth Street (Latino Health Access) in accordance with the provisions of the City's Sunshine Ordinance. This meeting was publicly noticed in the OC Register, posted on the City's website, and invitation/notices were mailed to property owners and occupants/tenants in a 500-foot radius from the project site. An estimated 100 members of the public attended, as well as City staff. The applicant provided all the required information to the City after the meeting, Details from the community meeting were posted to the project's webpape 75C-346