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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) <br />and Staff Resolution Modifying Parking Districts in the Surrounding Area <br />September 17, 2024 <br />Page 21 <br />Topic <br />Ad Hoc Committee <br />Proposed by DA <br />Recommendation <br />automatic extension provided grading <br />permits have been issued and <br />construction has commenced on (a) <br />no less than 250,000 square feet of <br />non-residential floor area (e.g., retail, <br />grocer, restaurants), and (b) a hotel <br />subject to financial feasibility. <br />Timing (Phasing) <br />Require commencement of <br />Consistent — the DA stipulates that no <br />construction for at least 175,000 sq. <br />building permits for residential units <br />ft. of commercial building area for any <br />shall be issued in excess of 1,875 <br />residential permits in excess of 1,875 <br />unless and until Owner commences <br />units. Phase 1 or 2 shall have a <br />construction activities for at least <br />grocer of at least 35,000 sq. ft. <br />175,000 square feet of commercial. <br />Commercial in Phase 1 or Phase 2 <br />shall include a grocer of no less than <br />35,000 square feet, which supports <br />the community's and City's goals of <br />maintaining a full grocer in the area. <br />Community Benefits <br />Concurrent with construction of Phase <br />Consistent — Developer agrees to <br />1, Owner shall provide, if requested <br />provide a Police Department <br />by the City, exclusive use of a 500- <br />substation, and the $22,000,000 <br />square foot space and 3 dedicated <br />Community Benefit Payment shall be <br />parking for use by the Police <br />paid to City by Owner pursuant to the <br />Department as an administrative <br />following schedule: (1) $8,000,000 <br />substation. Additionally, a <br />prior to or concurrent with the <br />$22,000,000 Community Benefit <br />issuance of the first demolition permit <br />Payment will be paid in a three- <br />in furtherance of the Project's first <br />payment schedule. <br />Specific Plan Phase; (2) $6,000,000 <br />prior to the issuance of the first <br />building permit in furtherance of the <br />Project's second Specific Plan Phase; <br />and (3) $8,000,000 prior to the <br />issuance of the first building permit in <br />furtherance of any component of the <br />Project's third Specific Plan Phase <br />except for building permits in <br />furtherance of the Project Open <br />Space. <br />Hotel Economic <br />Ensure in the DA that the hotel is <br />Consistent — The hotel(s) shall be <br />Benefits <br />operated by an internationally <br />operated under a recognized hotel <br />recognized flag or boutique operator, <br />flag or by a boutique hotel operator <br />with proven performance records, at a <br />with a demonstrated track record of <br />minimum four -star (out of 5) rating. <br />success operating similar hotels. The <br />developer will secure a four -star hotel <br />or above. <br />