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(a) Purpose. New construction that increases the density of the downtown area, and the C-3-O(SD) district in particular, will require the City to invest in substantial new infrastructure and services. By increasing height limits, relieving density and floor area ratio limitations, reducing requirements for acquisition of Transferrable Development Rights, and making other regulatory changes to the C-3-O(SD) district, the Transit Center District Plan, confers substantial benefits on properties in the district. In order to exceed base densities in the district, the City will require sufficient funding to supplement other applicable impact fees for infrastructure, improvements and services as described in the Transit Center District Implementation Document, including but not limited to the Downtown Extension of rail into the Transit Center, street improvements, and acquisition and development of open spaces.
(b) Requirement. Any development on any lot in the C-3-O(SD) district that meets the applicability criteria of subsection (c) below shall participate in the Transit Center District Mello Roos Community Facilities District ("CFD") and successfully annex the lot or lots of the subject development into said CFD prior to the issuance of the first Temporary Certificate of Occupancy for the development.
(c) Applicability. A development on any lot in the C-3-O(SD) District meeting any one of the following criteria shall be subject to the requirements of this Section 424.8.
(1) The proposed project causes the development on the subject lot to exceed a floor area ratio of 9:1; or
(2) The proposed project would create a structure that exceeds the height limit that was applicable to the subject lot prior to the effective date of this Ordinance.
(d) Notwithstanding Subsection (c) above, net additions of less than 20,000 gross square feet to existing buildings shall be exempt from the requirements of this Section, unless said addition results in a lot that exceeds a floor area ratio of 18:1.
(Added by Ord. 182-12 , File No. 120665, App. 8/8/2012, Eff. 9/7/2012)