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Chapter 4 S[atement of Overrldln$ Conslderatlons <br />housing, townhomes and row houses in furtherance of the pro~•isions of the Housing Element and <br />the Transit Zoning Code. <br />1. The Transit Zoning Code prozides For a plantung and zoning framework to allow for: the <br />rede~>elopment of the Agency-owned properties, thereby eluciinating blight and prop>iding For nets <br />property tax generation. The Agency-properties are, For the most part, vacant land in the <br />ownership of a public agency and, as such, do not currently generate any property tax rep*enue. The <br />Proposed will allow For the redevelopment of these properties and their return to economic use. <br />"I'he adoption of the Transit Zoning Code also allows for the future development of other vacant <br />and underutilized properties currently in private or public ownership in other parts of the project <br />area. One such example is the current Count}> of Orange Operations Yard. The Operations Yard <br />comprises approximately 9.5 acres of underutilized land as the County of Orange continues to <br />consolidate their fleet and n~aicztenance operations in other facilities. tldoption of the Transit <br />Zoning Codc prop-ides for the zoning Fratne~c>ork and environmental ana!}=sis necessary to allow <br />these properties to transition into more ccononlically- productive uses and to potentially generate <br />necv property and sales tax rep-enues_ I~•fany areas within the Transit Zoning Codc suffer from a <br />lack of modern infrastructure and are in need of ne~~> street and side«>alk improvements. The <br />additional tax revenues generated b}• new development within the Transit Zoning Code area will <br />allow for reins>estment in public infrastructure and ne~c• investment that will stunulate the economy <br />of this area. <br />tn. The Proposed Project Furthers the Project Objectives set Forth abo~*e, incorporated in Full by this <br />reference. <br />Resolution No. 2010-024 <br />Page 94 of '130 <br />4-S Transit Zon(ng Code (SD 84) EIR Findings of Fact/Statement of Overriding Conslderatlons <br />