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Resolution No. 2021-3 <br />Page 2 of 26 <br />• Traffic Study (TS2020-001) ("TS"), which is attached hereto as Exhibit "C" and <br />incorporated herein by reference - A traffic study pursuant to Chapter 15.40 <br />(Traffic Phasing Ordinance) of the NEMC, which is required for projects that <br />generate in excess of 300 new average daily trips; <br />• Lot Line Adjustment (LA2020-002) ("LA") - To adjust the lot lines of two (2) <br />underlying parcels that comprise the Project; <br />• Affordable Housing Implementation Plan (AH2020-003) ("AHIP"), which is <br />attached hereto as Exhibit "D" and incorporated herein by reference - A <br />program specifying how the Project meets the City's affordable housing <br />requirements, in exchange for a request of 20 percent increase in density and <br />meets the criteria for a development concession related to the mix of <br />affordable unit types pursuant to Chapter 20.32 (Density Bonus) and <br />Government Code Section 65915 et seq.; <br />• Development Agreement (DA2020-002) ("DA") - An agreement between the <br />Applicant and the City, which would provide vested rights to develop the <br />Project, while also providing negotiated public benefits; and <br />• Addendum No. ER2020-003 to the 2006 General Plan Update Program <br />Environmental Impact Reports and the 2008-2014 City of Newport Beach <br />Housing Element Update Initial Study/Negative Declaration ("Addendum") - <br />Pursuant to the California Environmental Quality Act ("CEQA"), the <br />Addendum will address reasonably foreseeable environmental impacts <br />resulting from the Project; <br />WHEREAS, the Property is designated MU -H2 (Mixed -Use Horizontal 2) by the City <br />of Newport Beach General Plan ("General Plan") Land Use Element and located within the <br />Airport Business Area, and the Airport Business Area Integrated Conceptual Development <br />Plan ("ICDP") which allocates a maximum of 260 residential units to be developed on the <br />Property; <br />WHEREAS, the Property is currently located within the PC -15 (Koll Center <br />Newport Planned Community Office Site B) Zoning District; <br />WHEREAS, the Project is not located in the coastal zone; therefore, amending the <br />Local Coastal Program or a coastal development permit is not required; <br />