PREPARED BY: ELIZABETH LOPEZ DATE OF MEETING: 07/15/2024
SUBJECT:
TITLE
CONSIDER ADOPTING RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION OF AN ASSIGNMENT, ASSUMPTION AND MODIFICATION AGREEMENT WITH GIANT DEVELOPMENT, L.P., AND GIANT DEVELOPMENT II, LP, PROVIDING FOR THE RESTRUCTURING OF A LOAN MADE BY THE FORMER REDEVELOPMENT AGENCY TO ENABLE THE MAJOR REHABILITATION OF THE GIANT ROAD APARTMENTS
CEQA: A Mitigated Negative Declaration was prepared for the Giant Roads Apartment Project in November 2003 and circulated for review and comment. Comments were received and incorporated into a Mitigation and Monitoring Report subsequently adopted by the City Council. The Project applicant at that time complied with the Mitigation and Monitoring Report by preparing various environmental studies demonstrating that no significant impact would result from the Project. An addendum to the Mitigated Negative Declaration was then prepared, demonstrating that the Project would not result in significant environmental impacts. By City Council Resolution No. 2004-053, adopted on April 5, 2004, the City Council approved the addendum to the Mitigated Negative Declaration, acknowledged that the applicant had complied with the requirements of the Mitigation and Monitoring Report and found that there was no substantial evidence that the Project, as mitigated, would have a significant effect on the environment. The Project was completed and a certificate of occupancy was issued in August 2006. The proposed rehabilitation of the Project does not involve substantial changes or new information that would require the preparation of a subsequent environmental document in accordance with Section 15162 of the State CEQA Guidelines (14 Cal. Code Regs. ? 15000 et seq.).
Label
CITY MANAGER RECOMMENDATION
Recommendation
Adopt Resolution
BODY
COMPLIANCE STATEMENT
Diversify and improve the quality of housing stock is an adopted policy items contained in the FY 2023-25 City Coun...
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