Agenda Packet_2024-09-17 - Laserfiche WebLink

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Related Bristol Specific Plan Entitlements & Development Agreement (3600 S. Bristol St.) and Staff Resolution Modifying Parking Districts in the Surrounding Area September 17, 2024 Page 21 4 5 1 6 Topic Ad Hoc Committee Recommendation Proposed by DA automatic extension provided grading permits have been issued and construction has commenced on (a) no less than 250,000 square feet of non-residential floor area (e.g., retail, grocer, restaurants), and (b) a hotel subject to financial feasibility. Timing (Phasing)Require commencement of construction for at least 175,000 sq. ft. of commercial building area for any residential permits in excess of 1,875 units. Phase 1 or 2 shall have a grocer of at least 35,000 sq. ft. Consistent – the DA stipulates that no building permits for residential units shall be issued in excess of 1,875 unless and until Owner commences construction activities for at least 175,000 square feet of commercial. Commercial in Phase 1 or Phase 2 shall include a grocer of no less than 35,000 square feet, which supports the community’s and City’s goals of maintaining a full grocer in the area. Community Benefits Concurrent with construction of Phase 1, Owner shall provide, if requested by the City, exclusive use of a 500- square foot space and 3 dedicated parking for use by the Police Department as an administrative substation. Additionally, a $22,000,000 Community Benefit Payment will be paid in a three- payment schedule. Consistent – Developer agrees to provide a Police Department substation, and the $22,000,000 Community Benefit Payment shall be paid to City by Owner pursuant to the following schedule: (1) $8,000,000 prior to or concurrent with the issuance of the first demolition permit in furtherance of the Project’s first Specific Plan Phase; (2) $6,000,000 prior to the issuance of the first building permit in furtherance of the Project’s second Specific Plan Phase; and (3) $8,000,000 prior to the issuance of the first building permit in furtherance of any component of the Project’s third Specific Plan Phase except for building permits in furtherance of the Project Open Space. Hotel Economic Benefits Ensure in the DA that the hotel is operated by an internationally recognized flag or boutique operator, with proven performance records, at a minimum four-star (out of 5) rating. Consistent – The hotel(s) shall be operated under a recognized hotel flag or by a boutique hotel operator with a demonstrated track record of success operating similar hotels. The developer will secure a four-star hotel or above. City Council 22 – 21 9/17/2024