REPORT TO COUNCIL
SUBJECT
Title
Action on Adoption of Ordinance No. 1985 Approving a Development Agreement between the City of Santa Clara and Benton and El Camino, LP for the Property located at 575 Benton Street, Santa Clara
Report
BACKGROUND
Proposed Ordinance No. 1985 was passed for the purpose of publication on July 17, 2018. Pursuant to City Charter Sections 808 and 812, proposed Ordinance No. 1985 was published on July 25, 2018 and copies were posted in at least three public places.
DISCUSSION
On July 17, 2018, the City Council considered a development proposal for a mixed-use project to be constructed on a 5.75-acre project site at the northwestern corner of Benton Street and El Camino Real by Benton and El Camino, LP, an affiliate of Prometheus Development (the "Developer"). The proposed project would consist of up to 355 apartment units including 8 live-work units, 650 parking spaces, 19,985 square feet of retail space, and a 0.14-acre public plaza. At the close of the public hearing, the Council voted to adopt Resolutions approving an addendum to an Environmental Impact Report; a General Plan Amendment to change the land use designation from Santa Clara Station High Density Residential to Santa Clara Station Very High Density Residential; and a rezoning from Light Industrial (ML), Single-Family (R1-6L), Duplex (R2-7L) and Thoroughfare Commercial (CT) to Planned Development (PD).
In addition, on July 17, 2018, the City Council introduced Ordinance No. 1985, which would approve a Development Agreement ("DA") between the City of Santa Clara and the Developer. The DA gives the Developer the right to proceed with the project for a ten-year period, plus a one-time extension of five years, and the Developer agrees to make 10% of the dwellings affordable, provide approximately $5.57 Million in parkland dedication fees, maintain a public plaza for a period of 40 years, and preserve two existing historic homes on the site. Final approval of the ordinance wil...
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