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Consideration of Planning and Land Use Entitlements for Vivante Senior Housing, <br />Located at 850 and 856 San Clemente Drive (PA2018-185) <br />August 13, 2019 <br />Page 2 <br />iii. Waive full reading, direct the City Clerk to read by title only, introduce Ordinance <br />No. 2019-13, An Ordinance of the City Council of the City of Newport Beach, <br />California, Adopting Planned Community Development Plan No. PC2018-001 <br />Amending the San Joaquin Plaza Planned Community (PC -19) Located at 850 and <br />856 San Clemente Drive (PA2018-185), and pass on to a second reading on <br />September 10, 2019 (Attachment C); <br />iv. Waive full reading, direct the City Clerk to read by title only, introduce Ordinance <br />No. 2019-14, An Ordinance of the City Council of the City of Newport Beach, <br />California, Approving Development Agreement No. DA2018-005 for the Vivante <br />Senior Housing Project Located at 850 and 856 San Clemente Drive (PA2018- <br />185), and pass on to a second reading on September 10, 2019 (Attachment D); <br />and <br />v. Adopt Resolution No. 2019-76, A Resolution of the City Council of the City of <br />Newport Beach, California, Approving Major Site Development Review <br />No. SD2018-003, Conditional Use Permit No. UP2018-019, and Lot Merger <br />No. LM2018-004, and Revocation of Use Permit No. UP2005-017-017 and <br />Modification Permit No. MD2004-059 for the Vivante Senior Housing Project <br />Located at 850 and 856 San Clemente Drive (PA2018-185) (Attachment E). <br />FUNDING REQUIREMENTS: <br />There is no budget impact related to this application. The applicant is required to <br />reimburse the City for all costs associated with the review of the application. <br />Implementation of the project should generate a small increase in revenue to the City due <br />primarily to increased property taxes. In order to quantify the project's long-term fiscal <br />implications on City resources, staff engaged a consultant to prepare a fiscal impact <br />assessment in accordance with General Plan Implementation Policies 12.1 and 12.2 <br />(Attachment F). The analysis used the City's fiscal impact model prepared for the 2006 <br />General Plan (updated since) that calculates the average cost of public services required <br />by new development based on the assumption that new development affects City <br />services in the same way that existing development does. <br />The City's consultant concluded that the proposed project would result in an estimated <br />annual revenue to the City of approximately $41,569 while the existing museum land use <br />has an annual cost to the City of about $14,963. The result is a net annual increase of <br />approximately $56,562 to the City eliminating the cost of the museum land use. This <br />positive benefit is in contrast to the existing public use of the site, which does not generate <br />property tax for the City. The analysis identifies property taxes as the primary revenue <br />source related to the project. It should be noted that the proposed project is anticipated <br />to require additional emergency medical services beyond the current demand for the <br />museum and administrative office buildings and this additional cost is considered in the <br />fiscal analysis. <br />16-2 <br />