My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
75B - 2775 N. MAIN ST.
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2005
>
02/07/2005
>
75B - 2775 N. MAIN ST.
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
1/3/2012 4:59:09 PM
Creation date
2/2/2005 1:29:12 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Item #
75B
Date
2/7/2005
Destruction Year
2010
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
408
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />EIR No. 2004-01; ZOA No. 2004-06; <br />DA No. 2004-04; CUP No. 2004-28; <br />VTTM No. 2004-06; and SPR No. 2004-05 <br />October 25, 2004 <br />Page 7 <br /> <br />Development Agreement <br /> <br />The development agreement is a legal contract between the developer and <br />the City defining the terms and nature of development. The term of the <br />agreement is eight and one-half years. It establishes development <br />intensity, density, permitted uses and standards for the term of the <br />agreement. In exchange for the City vesting the standards and changing <br />allowable intensity, the development agreement requires certain public <br />benefits (Exhibit 7). The main points of the agreement as proposed by <br />staff are: <br /> <br />1. Term: The term of the development agreement is 8~ years. <br /> <br />2. <br /> <br />High Rise Residential: The developer is required to <br />building residential, for-sale, high rise tower(s) <br />developer does not proceed wi th such a proposal the <br />approvals in this development agreement are vested. <br /> <br />consider <br />If the <br />underlying <br /> <br />3 . <br /> <br />Public Art: Public art amounting to <br />is required. This is expected <br />requirement of $272,500. <br /> <br />.5% of construction valuation <br />to amount to a public art <br /> <br />4. <br /> <br />Inclusionary Housing Fee: An <br />dwelling unit is required. <br />generate $723,000. <br /> <br />inclusionary housing fee of $3,000 per <br />As 241 units are proposed, this would <br /> <br />5. Santiago Park Improvement Fee: The developer is required to pay the <br />City a special fee of $1.64 per usable square foot of commercial <br />and residential development to be used for capital improvements at <br />Santiago Park. This is expected to amount to a fee of <br />approximately $776,000. <br /> <br />6. In-Lieu Park Fee: The developer is required to pay the City an in- <br />lieu park fee of $35.50 per square foot of required parkland <br />dedication. This is expected to amount to a fee of approximately <br />$1.79 million. This fee would be offset, or reduced by the <br />Santiago Park Improvement Fee, resulting in a net in-lieu park fee <br />of $1.01 million. <br /> <br />7. Black Box Theater: The developer is required to construct a "black <br />box" theater. <br /> <br />758-24 <br />
The URL can be used to link to this page
Your browser does not support the video tag.