75A - PH - EIR THE HERITAGE 2001 E DYER

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EIR No. 2015 -01, AA No. 2014 -04, GPA No. 2015 -03, DA No. 2015 -03 & VTTM No. 2015 -03 October 12, 2015 Page 10 Vestino Tentative Tract Ma The applicant is proposing to subdivide the 18.84 —acre parcel into six lots: Three residential parcels, one office parcel, and two common area parcels. Based on a review of the tentative map by the Planning Division and Public Works Agency, the project has been designed to be in compliance with the applicable development standards found in Chapters 34 (Subdivision) and 41 (Zoning) of the Santa Ana Municipal Code and with the proposed SD -88 zoning document. However, in order to ensure Lot 4 (office parcel) complies with the City's various ordinances and has street frontage, a condition of approval has been included that requires Lot A (private street) to be designed to the City's private street standards. Approval of the tract map will be consistent with the goals and policies identified in the City's General Plan. Policy No. 1.3 of the General Plan Land Use Element encourages high - density residential development within the City's District Centers. Further, Policy No. 1.4 promotes the maintenance and fostering of a variety of residential land uses in the City (Exhibit 16), Additional Information The proposed project would convert a mostly vacant industrial development into a new mixed -use site and additional revenue to the City. A fiscal analysis prepared by Stanley R. Hoffman and Associates noted that a project net annual surplus to the General Fund after build out of the project could be approximately $943,000 and annual sales tax revenue of almost $53,000. The study also noted that only 10 percent of the estimated retail taxable purchases would be captured in the City because the project is located near the City boundary, no city retail facilities are nearby, and several large shopping centers are located in the cities of Tustin and Irvine. Airport Land Use Commission In accordance with State law, the initiation of a General Plan amendment, along with the project's proximity to the John Wayne Airport, requires the project to be submitted to the Airport Land Use Commission (ALUC) for a determination of consistency with the Airport Environs Land Use Plan (AELUP) for John Wayne Airport. To comply with this mandate, the City referred the project to the ALUC in September 2015, with an expected hearing date in October. Staff does not anticipate any issues from the ALUC. However, in the event the ALUC determines that the project is inconsistent with the AELUP, the City Council would need to overrule the ALUC determination and approve the project. This would require a two- thirds vote in support of the project and the adoption certain findings of fact. In an effort to address any ALUC concerns, the project will install "Notices of Proximity to the Airport' throughout the property as well as incorporate a similar notice within each lease that is completed. 75A -14