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<br />8.4 TIME LIMITS <br /> <br />MEMU Site Plan Review sholl automatically become void <br />offer fwo 121 years from the effective dote of such approval <br />when the owner fails to instifute an action 10 erect, build, <br />alter, move or maintain the use of the property as specified <br />in the terms and conditions of the MEMU Site Plan Review. <br />City Council may, by resolution, extend the dote on which <br />o MEMU Site Plan Review becomes void far 0 period or <br />periods not exceeding three 131 years in total beyond the dote <br />it would otherwise become void. <br /> <br />Acceptable action sholl be considered to be actual <br />construction, alteration, repairs and use of the structures and <br />land. Preparation of plans, financial negotiations, or change <br />of property owners are not considered sufficient evidence of <br />action. <br /> <br />8.5 DEVELOPMENT CAPACITY MONITORING <br />AND ENVIRONMENTAL REVIEW <br /> <br />In arder to maintain conformity with the provisions of the <br />environmental analysis completed far this project under the <br />California Environmental Quality Act ICEQA). development <br />capacity within the MEMU Overlay Zone shall be limited <br />10 1.27 million gross square feet of commercial Iretoil and <br />service) and 3.41 million gross square feet of office space. <br />This corresponds to 0 potential net increase of 963,000 <br />square feet of commercial, and 690,000 square feet of <br />office space, and the potential for 5,551 residences above <br />existing development. When new development within Ihe <br />MEMU Overlay Zone reaches 80 percent of the allowable <br />increased capacity, no development shall be entitled until <br />an environmental review, including a traffic study, has been <br />completed pursuant to CEQA. These development capacity <br />NtriggersN are as follows: <br /> <br />a. Commerciol-770,400 square feet <br /> <br />b. Office-552,000 square feet <br /> <br />c. Residential-4,440 units <br /> <br /> <br />Ordinance No. NS-2740 <br />Page 42 of 86 <br />