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3. Make the PUD findings for the proposed development plan as staled in the March 27, 2013, Planning Commission staff report (pages 27-30 in Attachment 9); 4. Find that the exceptions to the Housing Site Development Standards and Design Guidelines as stated in the March 27, 2013, Planning Commission staff report (page 12 in Attachment 9) are appropriate; 5. Adopt a resolution approving the Affordable Housing Agreement for the project (Attachment 2); 6. Introduce the draft ordinance approving the Development Agreement for the project (Attachment 3); 7. Introduce the draft ordinance approving Case PUD-85-08-1D-4M, PUD major modification and development plan, subject to the Conditions of Approval, Exhibit "A" (Attachment 1); and 8. Adopt a resolution approving the Growth Management Agreement for the project (Attachment 4). FINANCIAL STATEMENT The project would be expected to generate revenues to cover its costs of service. Increases in property and sales taxes would be used to provide services, such as police, fire, etc., for the increased demand generated by the apartments and retail uses. The applicant would have to pay development impact fees (e.g., in-lieu park dedication fee, public facilities fee, traffic fees, water/sewer connection fees, etc.) that are used to pay for the cost of new City facilities and infrastructure necessitated by development. BACKGROUND The approximately 8.4-acre southern portion of the 60.9-acre California Center property was one of the nine sites rezoned in January 2012 for high-density multifamily development in order to meet the City's share of the regional housing need. On September 4, 2012, the City Council adopted the Housing Site Development Standards and Design Guidelines (hereafter referred to as "Standards") to guide development on the nine sites. The 8.4-acre southern portion of the site is identified as Site #8 in the Standards. Site #8 is required to provide a density of at least 35 dwelling units per acre (294 units) with no more than 40 dwelling units per acre (336 units). Up to 10,000 sq. ft. of retail is also permitted on this site with no minimum required (although the Standards encourage retail to provide residents with non-vehicular access to goods and services). This project was reviewed by the Planning Commission at a workshop held on October 10, 2012, and at a regular meeting held on March 27, 2013. The Affordable Housing Agreement was reviewed by the Housing Commission at meetings held on February 21, and March 21, 2013. For a detailed description of the discussion at these meetings, Page 2 of 12