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