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262 <br /> <br />III. MAXIMUM PERMITTED BUILDING DENSITY/INTENSITY <br /> <br />A. MAXIMUM DENSITIES <br /> <br />The maximum authorized building densitles/intensitias for the MacArthur Place District <br />Center are as follows: <br /> <br />1. 4,051,000 square feet of Floor Area of office/commercial use; plus <br /> <br />400 residential units with an authorized maximum of 500,000 square feet of Floor <br />Area of building structures to accommodate the residential units; <br /> <br />3. The maximum office/commercial density with no residential use'is 4,175,000 square <br /> feet of Floor Area. <br /> <br />These maximum densit~ies can be converted or exchanged as follows: <br /> <br />a. 1,000 square feet of Floor Area for office space can be converted into and <br /> exchanged for 2 hotel rooms (common areas in hotels are not calculated in <br /> the determination of maximum densities). <br /> <br />bo <br /> <br />1,000 square feet of Floor Area of office space can be converted into and <br />exchanged for 3.23 residential units. <br /> <br />C° <br /> <br />1,000 square feet of Floor Area of office can be exchanged for 280 square <br />feet of retail commercial. <br /> <br />Parking structures are not included in the calculation of Floor Area. <br /> <br />The MacArthur Place District Center will be developed contingent on the installation of <br />major infrastructure improvements as set forth in the EIR. The applicable infrastructure <br />improvements corresponding to each phase of development within the MacArthur Place <br />District Center are required to be substantially completed as follows: <br /> <br />(i) <br /> <br />With respect to the first phase of the Development, fifty percent (50%) of all <br />applicable first phase off-site improvements set forth in Section 2.4 and Table 1 <br />of the EIR shall be completed prior to the issuance of any tenancy occupancy <br />permits with respect to the last building to be constructed in such phase, and the <br />remainder of all first phase off-site improvements shall be completed not later <br />than one year following the date of issuance of such tenant occupancy permit. <br />Notwithstanding the foregoing, as a condition to such one-year extension of the <br />obligation to complete such first phase off-site improvements, Developer shall <br />deliver to City sufficient security to ensure the completion of the remaining first <br />phase off-site improvements within such one-year periodl <br /> <br /> <br />