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Slide 47 Related Bristol Specific Plan <br />Item No. 22 <br />Planning and Building Agency <br />September 17, 2024 <br />Key Terms (Continued) <br />•Open Space –13.1 acres of publicly accessible open space to satisfy the City’s <br />park provision and fee requirements. <br />–The open space will be constructed in a timely manner in accordance with the project’s <br />phasing, with “springing” easements recorded commensurate with phases to ensure <br />public access through the life of the Specific Plan and any ongoing residential land uses. <br />–The Supplemental EIR prepared for the project identifies that the project will result in a <br />demand for 27.7 acres of open space, which is 14.6 acres more than the 13.1 acres <br />provided on site. <br />–The project will remain consistent with the General Plan pursuant to Table OS-3 (Open <br />Space Element Implementation) of the General Plan, Action Nos. 1.7 and 1.10. Action No. <br />1.7, which recognizes the challenges and difficulty in creating new open space and <br />parklands in a built-out environment and provides for a reduction in on-site open space <br />by giving credits for park land for public use as an incentive toward developer creation of <br />open space areas that are accessible to the public. <br />–Action No. 1.10 encourages collaboration with property owners to provide public access <br />and programming on private open space. <br />–The Agreement clarifies and provides the applicant the ability for early development of <br />the open space proposed in Phase III as part of an earlier Phase (i.e. Phase II) without <br />triggering the payment of the final $8 million community benefit payment.This provision <br />is a positive investment and further commits the applicant to completing the project.