25B - AGMT - AMEND 1992 AGMT WITH CITY OF IRVINE

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: MARCH 21, 2011 TITLE: AMENDMENT TO 1992 AGREEMENT WITH THE CITY OF IRVINE REGARDING THE IRVINE BUSINESS CENTER DE ELOPMENT 61TY MANAGER RECOMMENDED ACTION CLERK OF COUNCIL USE ONLY: APPROVED ? As Recommended ? As Amended ? Ordinance on 151 Reading ? Ordinance on 2nd Reading ? Implementing Resolution ? Set Public Hearing For CONTINUED TO FILE NUMBER Authorize the City Manager and Clerk of the Council to execute the attached amendment to the 1992 agreement for implementing the Roadway & Interchange Mitigation Program with the City of Irvine for the Irvine Business Center (IBC) development, subject to nonsubstantive changes approved by the City Manager and City Attorney. DISCUSSION On July 13, 2010, the City of Irvine certified the environmental impact report for the Irvine Business Center Vision Plan (IBC). The project includes an increase in residential units from 9401 units to a potential maximum of 16,191 units, including density bonus, and a reduction of 2,715,062 square feet of non-residential development. The traffic study prepared as part of the project environmental impact report indicates that the Alton Avenue Overpass at State Route (SR) 55 is unnecessary under the build-out of the IBC. However, Santa Ana staff believes the overcrossing is needed to relieve traffic along MacArthur Boulevard and Dyer Road, and is vital to the redevelopment of the area encompassed by SR 55, Columbine Avenue, Main Street, and Dyer Road. Further, all previous traffic studies concluded the need for the Alton Avenue Overpass to relieve traffic congestion along MacArthur Boulevard. The traffic study identified fair share contributions for mitigations at the following locations within the City of Santa Ana: • Bristol Street at Segerstrom Avenue Intersection • Main Street at Dyer Road Intersection • Grand Avenue at Warner Intersection • MacArthur Boulevard Widening from Main Street to State Route 55 25B-1