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RESOLUTION NO. 2021-2 <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF NEWPORT BEACH, CALIFORNIA, ADOPTING <br />ADDENDUM NO. ER2020-003 TO THE 2006 GENERAL <br />PLAN UPDATE PROGRAM ENVIRONMENTAL IMPACT <br />REPORT AND THE 2008-2014 CITY OF NEWPORT <br />BEACH HOUSING ELEMENT UPDATE INITIAL <br />STUDY/NEGATIVE DECLARATION FOR THE <br />RESIDENCES AT 4400 VON KARMAN PROJECT <br />LOCATED AT 4400 VON KARMAN AVENUE (PA2020- <br />061) <br />WHEREAS, an application was filed by TPG (KCN) Acquisition, LLC. ("Applicant"), <br />with respect to property located at 4400 Von Karman Avenue, generally bounded by Birch <br />Street and Von Karman Avenue, legally described in Exhibit "A", which is attached hereto <br />and incorporated herein by reference ("Property"); <br />WHEREAS, the Applicant is requesting approval for the development of 312 <br />apartment units atop an 825 -space parking structure, a separate 284 -space free standing <br />parking structure, an approximately one -acre public park, and reconfiguration of existing <br />surface parking lots serving existing office buildings ("Project") which requires the following <br />approvals from the City: <br />• Planned Community Development Plan Amendment (PD2020-001) ("PCDP <br />Amendment") - An amendment to Planned Community Development Plan <br />#15 (Koll Center Newport Planned Community) for the creation of a <br />residential overlay zone and a park overlay zone to allow for residential use <br />and a public park within the Koll Center Newport Professional and Business <br />Office Site B ("Office Site B"); <br />• Major Site Development Review (SD2020-006) ("SD") - A site development <br />review in accordance with the amended Koll Center Newport Planned <br />Community and Section 20.52.080 (Site Development Reviews) of the <br />Newport Beach Municipal Code ("NBMC") for the construction of the Project; <br />• Traffic Study (TS2020-001) ("TS") - A traffic study pursuant to Chapter 15.40 <br />(Traffic Phasing Ordinance) of the NBMC, which is required for projects that <br />generate in excess of 300 new average daily trip; <br />• Lot Line Adjustment (LA2020-002) ("LA") - To adjust the lot lines of two (2) <br />underlying parcels that comprise the Project; <br />