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Chapter 4 Statement of Overriding Considerations housing, townhomes and row houses in furtherance of the provisions of the Housing Element and the Transit Zoning Code. 1. The Transit ZoiZitig Code provides for a planning and zoiiiiig framework to allow for the redevelopment of the Agency-owned properties, thereby eliminating blight and providing fox new property tax generation. The Agency-properties are, for the most part, vacant land in the ownership of a public agency and, as such, do not currently generate any property tax revenue. The Proposed will allow for the redevelopment of these properties and their return to economic use. The adoption of the Transit Zoning Code also allows for the future development of other vacant and underutilized properties currently in private or public ownership in other parts of the project area. One such example is the current County of Orange Operations Yard. The Operations Yard comprises approximately 9.5 acres of underutilized land as the County of Orange continues to consolidate their fleet and maintenance operations in other facilities. Adoption of the Transit Zoning Code provides for the zoning framework and environmental analysis necessary to allow these properties to transition into more economically productive uses and to potentially generate new property and sales tax revenues. Many areas within the Transit Zoxiuzg Code suffer from a lack of modern infrastructure and are in need of new street and sidewalk improvements. The additional tax revenues generated by new development within the Transit Zoning Code area will allow for reinvestment in public infrastructure and new investment that will stimulate the economy of this area. m. The Proposed Project furthers the Project Objectives set forth above, incorporated in full by this reference. 4_g Transit Zoning Code (SD 84) EIR Findings of Fact/Statement of Overriding Considerations