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<br />Resolution No. 2023-XXX <br />Page 2 of 4 <br /> <br /> <br />G. Recent increases in interest rates beginning the first quarter of 2022 and <br />continuing through 2023, and their impact on construction loans and land <br />development costs, have resulted in additional delays to the ability to <br />complete begin vertical construction of the project by the December 15, <br />2023, deadline that was established the City Council-approved entitlement <br />extension. <br />H. Pursuant to SAMC Section 41-647, when construction does not <br />commence, these types of entitlements expire after two (2) years unless <br />the applicant applies for, and the City Council approves, an extension. Up <br />to three extensions may be granted. <br />I. It is the Planning Division’s policy to recommend no more than one-year <br />extensions at a time, mainly in an effort to encourage the construction of <br />previously approved projects. <br />J. The applicant filed a request for the second one-year extension on <br />September 27, 2023. The extension request came before the City Council <br />on December 5, 2023. <br />K. In accordance with the California Environmental Quality Act (CEQA) and <br />the CEQA Guidelines, the extension for this project is exempt pursuant to <br />Section 15061(b)(3). This determination has been made as it has been <br />determined that the proposed action to extend the existing, approved <br />entitlement does not have the potential to cause a significant effect on the <br />environment, as the existing, approved entitlement has already been <br />evaluated pursuant to CEQA. <br />Section 2. Site Plan Review No. 2020-03 and Variance No. 2020-06 are each <br />hereby extended for a period of one (1) year until December 15, 2024. This decision is <br />based upon the evidence submitted, which includes, but is not limited to, the Request <br />for Council Action dated December 5, 2023, and exhibits attached thereto, and any <br />public testimony, all of which are incorporated herein by this reference. <br /> Section 3. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br /> <br /> <br /> <br /> <br />[Signatures on the following page] <br /> <br /> <br /> <br /> <br /> <br />  <br />  <br />City Council 12 – 5 12/5/2023