75A - PH - EIR THE HERITAGE 2001 E DYER

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EIR No. 2015 -01, AA No. 2014 -04, GPA No. 2016 -03, DA No. 2015 -03 & VTTM No. 2015 -03 October 12, 2015 Page 7 As a result of these impacts that cannot be mitigated to a less than significant level, adoption of a Statement of Overriding Considerations is required prior to approving the project. A Statement of Overriding Considerations is the process through which decision makers balance the economic, legal, social, and technological or other benefits of the proposed project against its unavoidable environmental impacts. General Plan Amendment To allow the construction of a mixed -use development on this parcel, a General Plan amendment is required. Currently, the land use designation for this site is Professional and Administrative Office (PAO), which allows office development and ancillary commercial uses. This project will require an amendment to the Land Use Element to amend the General Plan Land Use designation of the site to District Center (DC) with a General Plan floor area ratio of 1.70 (Exhibit 12). The floor area ratio was derived by calculating the square footage of the development (excluding parking structures) along with the square footage of the existing structure that will remain. Staff has identified a concern with the inconsistency of the project with the existing Land Use Element of the General Plan, The Professional and Administrative Office land use designation of the site, along with approximately 300 acres of land located on the east side of the Newport -Costa Mesa (SR -55) Freeway, are primarily intended to provide an environment for office and business park development in an area of the City where office, research and development, and industrial uses are the predominant land uses. Maintaining these uses in the City is key to promoting and encouraging major employment centers at locations which have a low vacancy rate, are located in a stable industrial area, and contain little to no heavy industrial businesses that adversely impact other nearby businesses, Additionally, areas such as this section of the City provide a rich employment base for many residents of the City and those in the region who work in the area. The City has recently initiated the process to update its General Plan, which is the blueprint for future development. A key component of the update process is the identification of sites for future development, including but not limited to mixed -use development. Staff has identified the southeast section of the City, including the project site, as a potential area for mixed -use ( residential /commercial /industrial) development, with residential development contemplated at a maximum of 100 units per acre. This area will be studied in greater depth as the update process continues, with a final determination on the eventual land use designation expected in the next one to two years. If approved, the project could support several goals and policies of the recently adopted Housing Element. First, the project would be consistent with Goal 2, which encourages diversity of quality housing, affordability levels, and living experiences that accommodate Santa Ana's residents and workforce of all household types, income levels and age groups to foster an inclusive community. Second, the project would support Goal 4, to provide adequate rental and ownership housing 75A -11