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<br />Amendment Application No. 2005-07 <br />Tentative Tract Map No. 2005-08 <br />Development Agreement No. 2005-03 <br />Site Plan Review No. 2005-03 <br />September 12, 2005 <br />Page 4 <br /> <br />Analysis of the Issues <br /> <br />Amendment Application <br /> <br />The City's Specific Development District was authorized and established <br />for the purpose of protecting and enhancing the value, appearance and <br />orderly development of property. In order to facilitate the mixed use <br />proposal and allow flexibility in the development standards, the proposed <br />zone change to Specific Development No. 79 would be most appropriate. The <br />Specific Development would allow the mixed uses to be accommodated in a <br />comprehensive setting. <br /> <br />The proposal supports the General Plan policies of encouraging commercial <br />and residential development along arterial streets, supporting <br />developments that are harmonious with existing development in the area, <br />provides the community economic and service benefits, and provides quality <br />housing. The development proposal will further establish the area by <br />supporting regional attractions such as the Bowers Museum, Kidseum and <br />Saint Josephs Ballet. The positive image reflected by a high quality <br />development will strengthen the areas commercial uses, encourage further <br />development and provide additional housing and services to the City. <br /> <br />Development Agreement <br /> <br />The development agreement is a contract between the developer and the City <br />defining the terms and nature of development. The term of the agreement <br />is eight years. It establishes development intensity, density, permitted <br />uses and standards for the term of the agreement. In exchange for the <br />City vesting the standards and changing allowable intensity, the <br />development agreement requires certain public benefits (Exhibit 6). The <br />main points of the agreement as proposed by staff are: <br /> <br />1. Term: The term of the development agreement is eight years. <br /> <br />2. Public Art: Public art amounting to .5 percent of construction <br />valuation is required. This is expected to amount to a public art <br />requirement of approximately $272,000. <br /> <br />3. Inclusionary Housing Fee: An inclusionary housing fee of $3,000 per <br />unit will be required. <br /> <br />75A-6 <br />