A. Development of the site designated as the One Beverly Hills Overlay Specific Plan on the City's Zoning Map shall be developed either pursuant to the One Beverly Hills Overlay Specific Plan or the previously approved 9900 Wilshire Specific Plan, Beverly Hilton Specific Plan and Low Density General Commercial land use designation as existed on the date the One Beverly Hills Overlay Specific Plan was approved by the City Council. Unless and until the Election provided for in subsection B is made, the One Beverly Hills Overlay Specific Plan shall not be implemented and development within the One Beverly Hills Overlay Specific Plan area shall not proceed pursuant to the regulations in the One Beverly Hills Overlay Specific Plan, and the One Beverly Hills Overlay Specific Plan area's existing zoning, inclusive of the 9900 Wilshire and Beverly Hilton specific plans, shall remain effective. If there is no Election prior to issuance of any grading permit or recordation of any additional final subdivision map for any property within the One Beverly Hills Overlay Specific Plan area, whether issued pursuant to the Beverly Hilton Specific Plan, 9900 Wilshire Specific Plan, or the One Beverly Hills Overlay Specific Plan, as described in subsection B of this section, then this article 15.9 shall be null and void and of no further effect and articles 15.7 and 15.8 of this chapter shall apply to the subject properties as provided therein.
B. Upon the "Election," as defined in Section 5.4 of the One Beverly Hills Overlay Specific Plan, including without limitation consent of the property owners and lenders, notice to the City and all other implementing actions required by and set forth in Section 5.3 and 5.4 of the One Beverly Hills Overlay Specific Plan, which shall occur prior to issuance of any grading permit or recordation of any additional final subdivision map for any property within the One Beverly Hills Overlay Specific Plan area, whether issued under the Beverly Hilton Specific Plan, 9900 Wilshire Specific Plan, or this Overlay Specific Plan, the One Beverly Hills Overlay Specific Plan shall take effect and become the governing specific plan for the One Beverly Hills Overlay Specific Plan area and the 9900 Wilshire Specific Plan and Beverly Hilton Specific Plan shall cease to provide development standards for the site, at which point article 15.7 and article 15.8 of this chapter shall no longer be effective, as provided by section 10-3-1573 of article 15.7 and section 10-3-1583 of article 15.8. (Ord. 21-O-2838, eff. 6-25-2021)