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RESOLUTION NO. 2011 -102 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />NEWPORT BEACH APPROVING TRANSFER OF <br />DEVELOPMENT RIGHTS NO. TD2011 -001 IN THE NORTH <br />NEWPORT CENTER PLANNED COMMUNITY (PA 2011 -159) <br />THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH HEREBY FINDS AS FOLLOWS: <br />SECTION 1. STATEMENT OF FACTS. <br />1. An application was filed by The Irvine Company LLC ( "Irvine Company "), with respect to <br />property located within the North Newport Center Planned Community requesting <br />approval of a transfer of development rights. <br />2. The applicant proposes the transfer of 288,975 square feet of general office to Block 500 <br />from San Joaquin Plaza (241,711 square feet) and Block 600 (47,264 square feet). The <br />applicant also proposes to relocate the 430 residential units from Block 500 to San <br />Joaquin Plaza. <br />3. The General Plan Land Use Category for the Block 500, Block 600, and San Joaquin <br />Plaza sub -areas is Mixed Use Horizontal (MU -1­13). <br />4. The subject properties are not located within the coastal zone. <br />5. General Plan Policy LU 6.14.3 permits development rights to be transferred within <br />Newport Center as long as the transfer is consistent with the intent of the General Plan <br />and will not result in any adverse traffic impacts. <br />6. The Newport Center Planned Community Development Plan includes procedures that <br />implement General Plan Policy LU6.14.3. <br />7. The North Newport Center Planned Community Development Plan transfer <br />implementation procedures provide that the City Council shall approve a transfer of <br />development rights if it finds that the transfer will result in no more PM peak hour trips <br />and no greater intensity of land use than the development allowed without the transfer. <br />8. A traffic analysis titled North Newport Center Office Trip Transfer No. 5 (Stantec <br />Consulting Services Inc., September 30, 2011) was prepared for the application for the <br />transfer of development rights in compliance with General Plan Policy LU 6.14.3 and <br />the North Newport Center Planned Community Development Plan. <br />9. The Zoning Implementation and Public Benefit Agreement (Development Agreement) <br />between the City and Irvine Company LLC dated January 18, 2008, granted the Irvine <br />Company development rights to 430 of the 450 residential units allocated in the <br />General Plan for MU -H3 properties in Newport Center Statistical Area L1. <br />