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City Council -approved entitlement extension. Current challenges in the <br />capital markets for both debt and equity financing continue to impede <br />project development through 2024. <br />F. 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 />G. Upon the completion of the plan check process and securing of funding for <br />the project, the applicant intends to obtain all necessary building permits <br />for the project by submitting plans for building plan check and break <br />ground on the project to effectuate its entitlements within a timely manner. <br />H. The applicant filed the request and submitted filing fees for the third <br />extension on July 24, 2024. The extension request came before the City <br />Council on October 1, 2024. <br />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. 2020-04 is hereby extended for a period of <br />one (1) year from the second extension deadline of November 9, 2024 to November 9, <br />2025. This decision is based upon the evidence submitted, which includes, but is not <br />limited to, the Request for Council Action dated October 1, 2024, and exhibits attached <br />thereto, and any public testimony, all of which are incorporated herein by this reference. <br />Section 3. This Resolution shall take effect immediately upon its adoption <br />by the City Council, and the City Clerk shall attest to and certify the vote adopting this <br />Resolution. <br />ADOPTED this day of October, 2024. <br />Valerie Amezcua <br />Mayor <br />APPROVED AS TO FORM: <br />Sonia R. Carvalho <br />City Attorney ' <br />!y:Jonath�an <br />T. Martin z <br />Assistant City Attorney <br />Resolution No. 2024-XXX <br />Page 2 of 4 <br />