Item 26 - Public Hearing Regarding Bristol Project

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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) and Staff Resolution Modifying Parking Districts in the Surrounding Area October 1, 2024 Page 35 $73 million, leading to an "Excess of Value over Costs" ratio of about 36%, making the facility financially feasible on the project site. The EIA, FIA, LRV, and CBA analyses, as well as the Market Study and respective peer reviews, are provided as Exhibit 10 to this report. RESOLUTION AMENDING PERMIT PARKING DISTRICTS Separate from the Related Bristol Specific Plan Project but concurrently as an implementation of the General Plan Update (2022), it is recommended that the City Council adopt a resolution amending Resolution No. 91-088, Resolution No. 93-076, and Resolution No. 2000-062 (Exhibit 17) regarding Permit Parking District petitions. Pursuant to Article XI (commencing with Section 36-480) of Chapter 36 of the SAMC, the City Council is authorized to adopt resolutions establishing permit parking districts in which parking restrictions apply to all vehicles except those vehicles that have been issued parking permits pursuant to such Article. By Resolution Nos. 91-088, 93-076, and 2000-062, the City Council established the South Coast, the Sandpointe, and the South Metro Permit Parking Districts (Exhibit 18). Residents in these Parking Districts may petition to impose permit parking restrictions if desired by the property owners within each District. On April 19, 2022, the City Council adopted the General Plan Update. The new General Plan went into effect on May 26, 2022. The new General Plan allows for significant mixed -use redevelopment within the South Bristol Street Focus Area. As part of the General Plan implementation process and subsequent development project applications, City staff have conducted extensive outreach in the neighborhoods in and around the South Bristol Focus Area to solicit resident concerns and feedback regarding the proposed redevelopment in the area. Residents have expressed concerns that proposed development projects in the South Bristol Street Focus Area may impact available parking on neighborhood streets and have requested that the City modify existing procedures to facilitate expanded utilization and participation in the City's permit parking program. While extensive environmental review and traffic studies completed for the General Plan Update and for the Related Bristol Project evidenced that development of projects consistent with the General Plan development thresholds will not have direct impacts on parking to the surrounding residential neighborhoods, nonetheless, enhancing the ability of the various Permit Parking Districts adjacent to the South Bristol Focus Area to expand utilization and participation in the permit parking program would ease community concerns and could improve the effectiveness of the existing permit parking program.