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RESOLUTION NO. 79-137 <br /> <br /> existing developer. Any further reduction would preclude <br /> development by the only developer currently interested in <br /> developing the subject site, and thus cause the substantial <br /> risk of creating the situation set forth in paragraph 9 <br /> above. <br /> <br />C. Statement of Overriding Considerations <br /> <br /> The adverse environmental effects of the proposed <br />project, even after the modifications and mitigation, are <br />not totally insignificant. But neither can they fairly be <br />characterized as very severe, especially when compared to <br />other potent~.al development of the subject site. The <br />concerns of the neighboring residential community have been <br />carefully considered by the City. While these concerns are <br />no doubt sincere, they are judged to reflect an exaggerated <br />conception of negative consequences. The City does not <br />concur in the assumptions which underlie allegations that <br />the project will induce a blighting of the residential <br />community. <br /> <br /> There is no basis for the assumption that the <br />approval of this project will inevitably lead to high rise <br />development westward o~ the subject site. (Reference <br />paragraph Al, above.) <br /> <br /> The visual impact and temporary shadowing <br />consequences of a high-rise building are judged to be only <br />moderately adverse effects, which will have slight impact, <br />if any, on the continuing desirability of existing single <br />family dwellings for residential purposes. The primary <br />attribute of such dwellings will continue to be as a supply <br />of moderately-priced single family housing, providing <br />residents with more spacious housing and yard areas per <br />given purchase price than can be obtained in areas further <br />removed from the annoyances of the urban center. <br /> <br />The concern expressed by some opponents of the <br />project, to the effect that the project will induce a higher <br /> <br /> <br />