The URL can be used to link to this page

Home My WebLink About12 - Uptown Newport Development Agreement Amendment Located at 4311-4321 Jamboree Road (PA2015-015) - PowerPointApril 28, 2015 City Council Public Hearing April z8, 2015 eduction Uptown Newport is a25-acre planned community with up to 1.244 residential units, two 1 -acre public parks, and 11,500 square feet of reta i I Applicant requests an amendment of the Development Agreement Public Benefit Fees —Section 3.1. In -lieu of Parkland Dedication Fees (Park Fees) — 3.2.1 04/28/2015 Community Development Department- Planning Division o4/z8/2011 OA CO, r 11 / y PC l 1i a° vwo \`----- ----- p �O P o � /uows�•an o, 0 A O I I I2FW�FO ?71 ' S _ R ,�t. M1iiI Subject Site _ uptown Newport 3 Building 4 "I Building 3 Ph ©se 7 -A Phase Building i Building 2 Phase 1 Masi (Picerne Group) (Picerne Group) Number of units: 684 564 Developable Area (ac): 8.74 9.72 Park Area (ac): 1.03 1.02 l� .. ._.. .... Retail {sf}: 11,500 0 J A TO B R E E R E A D Right of Way Area (ac ): 3.24 1.30 - —� Total Area (ac): 13.01 12.04 �j itlllillRlll! j .7fllTlilTr�• Community Development Department- Planning Division Phase i Building z at Jamboree & Secondary Entry a, 4 1, lig. , L - AL1 %. F' r66r'' Phase 1 Building 3 At Private Street Phase :L Building 4 at Phase :L Park • �, +7I � e4 MR m. public Benefit Fees 0 ir Existing Fee $32,500 per residential unit 1,244 units = $40,430,000 Payment due at issuance of building permits on a per -unit basis An annual Consumer Price Index escalator - begins 01 /01/15 07/13/2012 Community Development Department- Planning Division n public M Benefit Fees ■ Proposed Changes: Payment prior from permit issuance to certificate of occupancy on a per -unit basis Estimated 18 to 24 -month delay in fee payment Payment delay offset by annual adjustment: 04/28/2015 $32,695 (as of 01/01/15) $33,267 (o1 /o1 /16 estimate) $33849 (01/01/17 estimate) Community Development Department- Planning Division 10 Existing Terms: 0 Payment due for all units at issuance of 1st building permit for any unit in a final subdivision map 04/28/2015 Total Parkland Required: 13.62 acres Dedication Value Before Credits : $34,050,000 (at 2,500,00 /acre ) Eligible credits include: • Parkland dedication and improvements • Private recreational facilities • Private recreational facilities open to the Public Community Development Department- Planning Division 1 .1 park Fees Existing Terms: 0 Payment due for all units at issuance of 1st building permit for any unit in a final subdivision map 04/28/2015 Total Parkland Required: 13.62 acres Dedication Value Before Credits : $34,050,000 (at 2,500,00 /acre ) Eligible credits include: • Parkland dedication and improvements • Private recreational facilities • Private recreational facilities open to the Public Community Development Department- Planning Division 1 .1 Proposed Changes: Payment due at issuance of building 04/28/2015 permits on a per -unit basis Proposed Offset is an Annual Interest Rate applied to deferred payments 4 % for Phase 1 5% for Phase 2 Community Development Department- Planning Division 12 park Fees Proposed Changes: Payment due at issuance of building 04/28/2015 permits on a per -unit basis Proposed Offset is an Annual Interest Rate applied to deferred payments 4 % for Phase 1 5% for Phase 2 Community Development Department- Planning Division 12 Planning Commission recommends approval Proposed Changes will not significantly affect the DA's overall terms City will be appropriately compensated for the proposed change in payment schedule for both the public benefit fee and park fee 04/28/2015 Community Development Department- Planning Division 1 For more information contact: Rosalinh Ung 949 -644 -3208 rung@newpi:)rtbeachca.gov www.newportbeachca.gov - �.