Agenda - City of Santa Monica

enefits including additional affordable housing units exceeding AHPP
requirements, a v ariety of contributions to support area improvements,
construction of a LEED Gold certified building including solar panels and EV
charging stub-outs, and a local hiring provision.
4. The proposed Development Agreement will not be detrimental to the health,
safety and general welfare, in that the agreement would allow for the
redevelopment of existing, underutilized parcels with a use that is compliant with
the new Land an d Use Circulation Element vision for the area. The proposed
project will be located in an urbanized area and is consistent with other similar
improvements in the area, and does not have the potential to disrupt the urban
environment or cause health or safety problems. The proposed project provides
53 new residential units and will feature a neighborhood serving commercial use,
and would provide community benefits including additional affordable housing
units exceeding AHPP requirements, a v ariety of contributions to support area
improvements, construction of a LEED Gold certified building including solar
panels and EV charging stub-outs, and a local hiring provision.
5. The proposed Development Agreement will not adversely affect the orderly
development of the property, in that the Development Agreement is contingent
upon the review and approval of a specific site plan consistent with recognized
urban design principles that reflect the goals and policies of the City of Santa
Monica which were established through a long range planning process and are
reflected in the recently adopted update of the Land Use and Circulation Element
of the City’s General Plan.
6. The proposed Development Agreement will have a positive fiscal impact on the
City, in that the ground floor commercial uses are subject to City business license
taxes. The City will incur no cost associated with the implementation of the
applicant’s Transportation Demand Management plan and the associated
community benefit of reduced vehicle trips and parking demand in the area.
Furthermore, if the fee or monetary contribution options required in SMMC
Sections 9.04.10.20 and 9.72 for cultural arts and child care respectively are
exercised, the payment of fees related to cultural arts (approximately $93,016)
and child care (approximately $37,502.45) will be r equired to obtain project
approval. M oreover, the project would provide a transportation infrastructure
contribution of $125,493, a Colorado Esplanade contribution of $125,000, an
Open Space contribution of $225,000, an Historic Preservation Contribution of
$25,000, and a B ig Blue Bus contribution of $25,000. For these reasons, the
project will have a positive fiscal impact on the City.
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