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RESOLUTION NO. 2024-057 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING A ONE-YEAR EXTENSION OF <br />SITE PLAN REVIEW NO. 2020-04 FOR THE CENTRAL <br />POINTE MIXED -USE DEVELOPMENT TO BE LOCATED <br />AT 1801 EAST FOURTH STREET <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. On November 9, 2020, the Planning Commission unanimously approved Site <br />Plan Review (SPR) No. 2020-04 by adopting Resolution No. 2020-38 for the <br />Central Pointe mixed -use development, which consists of 644 residential units and <br />15,130 square feet of commercial space for the property located at 1801 East <br />Fourth Street. <br />B. Pursuant to Section 8.4 of the Metro East Mixed Use (MEMU) Overlay Zone <br />document, Site Plan Review approvals must be exercised within two years of <br />approval or become void after two years of inactivity unless the City Council by <br />resolution extends the date on which a MEMO Site Plan Review becomes void <br />for a period or periods not exceeding three years. <br />C. Taking into account the results of the global Covid-19 pandemic and its <br />effects on securing funding, labor, and construction materials, the City Council <br />approved the applicant's first request for a one-year entitlement extension on <br />July 19, 2022 (City Council Resolution No. 2022-062). The approval of the initial <br />request extended the subject project's entitlements until November 9, 2023. <br />D. On September 19, 2023, the City Council granted a second one-year <br />extension for the project's entitlement, extending it to November 9, 2024. This <br />extension was necessary as the applicant was unable to complete the plan check <br />process, obtain building permits, and begin construction before the November 9, <br />2023 deadline (City Council Resolution No. 2023-061). <br />E. Increased interest rates beginning the first quarter of 2022 and continuing <br />through 2023, and their impacts on construction loans and land development <br />costs, resulted in additional delays to the project's ability to complete the plan <br />check process, pull permits, and break ground on the project by the November 9, <br />2024 deadline that was established by the last City Council -approved entitlement <br />extension. Current challenges in the capital markets for both debt and equity <br />financing continue to impede project development through 2024. <br />Resolution No. 2024-057 <br />.j Page 1 of 3 <br />