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FINANCIAL STATEMENT The project is an infill subdivision involving minor on-site improvements to be paid for by the property owner. The creation of the new lots and the establishment of the three new homes will generate property taxes and revenue to be used to provide services, such as police, fire, etc. BACKGROUND Jerry Raney submitted an application for a planned unit development (PUD), rezoning, and development plan to divide two existing lots, totaling approximately 22,500 square feet, into six lots. The project is subject to the Downtown Specific Plan and the Downtown Design Guidelines. The subject site is in a downtown neighborhood consisting of small single family residences and multi-family residences along Augustine Street. The project site is surrounded by a variety of single-family homes on small sized lots, multi-family developments, and office uses are located at the end of the street. The proposed project is located in close proximity to the Union Pacific Railroad to the northwest which provides both commuter train service and freight transport. The lots located on the opposite side of Augustine Street are zoned RM-4. The project area (4715 and 4693 Augustine Street) is shown in green in Figure 1.1. The two lots are 7,500 and 15,000 square feet in size and currently contain a total of three existing dwelling units which would be retained. Three trees, one of which is a Heritage tree, are located within the boundaries of the proposed project. Staff has provided analysis on the existing trees in the Discussion section of this report. Page 2 of 6 Figure 1.1: Location Map