75B - PH - 6 E MACARTHUR PLACE - NEXUS DEVELOP

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ZOA No. 2009-04, CUP No. 2009-08, Amend DA No. 05-02 and VA No. 2009-02 April 13, 2009 Page 6 To analyze the new parking reduction for the hotel project, a shared parking study was prepared by Fehr & Peers using the Urban Land Institute's (ULI) shared parking methodology. Shared parking is defined as a parking space that can be used to serve two or more individual land uses without conflict or encroachment. The result of that study concluded that at its peak demand and lowest supply, which is during the week between the hours of 8:00 a.m. and 9:00 a.m., the hotel will require 182 parking spaces while 183 parking spaces are provided. During evening and weekend hours when the peak demand is higher (197 spaces on weekends between 10:00 p.m. and 11:00 p.m.), the hotel will have access to the adjacent 500-space parking garage to satisfy the increased parking demand (Exhibit 10). In addition to the results of the shared parking study, parking impacts will also be minimized through the use of tandem valet parking spaces in a portion of the surface parking lot. The use of tandem valet spaces allows for the more efficient use of the parking lot by ensuring that there is minimal space wasted between vehicles. A condition of approval has been added to require this service be available on a 24-hour basis to hotel guests and continually managed by the hotel. Based on this analysis, staff is in support of the 46 space parking variance. Development Agreement Amendment The development agreement is a legal contract between the developer and the City that defines the terms and nature of development proposed for the project site. This agreement establishes development intensity, permitted uses and standards for the term of the agreement. In exchange for the City vesting approval of the proposed project, the development agreement requires certain improvements and public benefits (Exhibit 11). The previously approved Development Agreement did not consider hotels within the MacArthur Place South project area. In conjunction with the amendment to Specific Development No. 76 to conditionally allow hotels in this area, the approved development agreement must also be modified. While the component of the development agreement relating to permitted uses will be modified to allow hotel uses within Zone 2 of the Specific Development, none of the other requirements or conditions relating to required improvements or development standards will be modified. Conclusion On February 23rd a Planning Commission work study session was held to review the proposed hotel project. At this meeting issues related to the projects timeline, the viability of a hotel use within the project 75B-8