11 - Laserfiche WebLink

Table 1: Total Allowable Square Footage Total Square Feet Allowed Pre-1993 5,257,941 Post-1993 4,631,059 Total 9,889,000 Since its inception, 8,034,146 square feet of development has been built in Hacienda using the current methodologies for calculating the draw down on the development cap. In addition, 732,327 square feet of development has been approved (entitled) but not constructed. Table 2 summarizes the current status of development against the approved cap. As shown, with the existing cap at 9,889,000 square feet, the current methodology would allow approximately 1,122,527 square feet of development to be constructed (527,659 square feet on the original Pre-1993 sites; and 584,868 square feet based on traffic trips produced converted into square footage on the 31 Post-1993 sites). Table 2: Remaining Square Feet Based on Existing Methodology Total Total Approved Total Remaining Total Square Constructed Not Constructed Square Feet Feet Allowed Square Feet Square Feet Pre-1993 5,257,941 4,719,606 10,676 527,659 Post-1993 4,631,059 3,314,540 721,651 594,868 Total 9,889,000 8,034,146 732,327 1,122,527 Continuing to track development in Hacienda under two separate sets of rules for different sites limits the flexibility of where future development occurs in Hacienda and involves a cumbersome tracking system. Staff has worked with the Hacienda Owners Association to develop a method of calculating the development cap and a development's change to the overall square footage regardless of the Pre/Post-1993 property designation. Moving forward, it is proposed that the Pre- and Post-1993 sub-caps be eliminated and that all development square footage (existing and future) will be applied toward the overall cap equally, irrespective of the type of development constructed (and continuing to exclude residential development on the previously identified residential lots) or whether it draws from the Pre/Post-1993 allocation. This will allow for an easier and clearer evaluation of proposed development in relation to the cap in the future. Using the new proposed methodology, the new remaining amount to be built is shown below in Table 3. Although the new proposed methodology would eliminate the existing sub-cap, the Pre- and Post-1993 groups are shown below in order to be easily compared to the data in Table 2. Page 6 of 12