Laserfiche WebLink
EIR No. 2007-02; ZOA No. 2008-04; <br />DA No. 2004-04; CUP No. 2008-34; <br />VTTM No. 2008-04; and SPR No. 2008-05 <br />January 12, 2009 <br />Page 8 <br />Building Height <br />The maximum building height will be adjusted to mirror the tower project <br />as proposed, a maximum of 366 feet. This change would only allow this <br />height on Lot 1 of Vesting Tentative Tract Map No. 17242. All other <br />height restriction will remain in place. <br />Development Agreement <br />The development agreement is a legal contract between the developer and <br />the City defining the terms and nature of development. In 2004, a <br />development agreement was approved; the term of the agreement is eight and <br />one-half 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 amended agreement as proposed by staff are: <br />1. Term: The term of the development agreement will provide 10 years. <br />If by the seventh year permits have not been obtained, additional <br />fees will be applied including public art. <br />2. Inclusionary Housing Fee: An inclusionary housing fee of $3,000 per <br />dwelling unit or a minimum $1,059,000 is required. As 353 units are <br />proposed, this would generate $1,059,000. <br />3. In-Lieu Park Fee: The developer is required to pay the City an in- <br />lieu park fee of $7,841 per unit. This is expected to amount to a <br />fee of approximately $2.76 million. <br />4. Conditions, Covenants & Restrictions: The developer is required to <br />prepare and record CC&Rs to cover the residential units similar to <br />those CC&Rs required of the first phase as well as Nexus and First <br />and Cabrillo projects. These requirements limit the number of <br />residents in each unit and require owner occupancy. <br />Conditional Use Permit <br />A conditional use permit has been requested to allow the residential <br />condominium tower project. Should Zoning Ordinance Amendment No. 2008- <br />04 be approved, a conditional use permit will be required for any <br />75D-10 <br />