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9.B. - Page 14 <br /> submitted within the next two months, as well as a small office expansion that may be <br /> proposed in the near future. If all these planning applications were approved, there <br /> would insufficient room left under the MAD limitations to issue building permits for all of <br /> the projects. <br /> The DTPP requires that City staff report back to the Council when the 80% threshold is <br /> reached for MAD development in any category. The only development category that is <br /> in jeopardy of being exceeded is office; residential, retail and lodging have a <br /> considerable amount of development capacity remaining. While the MAD has not <br /> technically been reached for office development (since it is a building permit cap), staff <br /> believes it is best to bring this back early to the Council for a general update and <br /> potential direction. That is the purpose of this report: 1) to provide a general <br /> development update as required by the DTPP, 2) to seek clarity regarding how the City <br /> "reserves" MAD allowances for projects that are currently in the planning stage and 3) to <br /> outline options for DTPP amendments to modify/adjust MAD allowances. <br /> ANALYSIS <br /> Maximum Allowable Development Overview <br /> The Downtown Precise Plan (Section 2.0.4.) specifies the MAD for several categories of <br /> development: <br /> • Residential Development: 2,500 net new dwelling units <br /> • Office Development: 500,000 net new square feet of gross floor area <br /> • Retail: 100,000 net new square feet <br /> • Lodging (hotel): 200 net new guest rooms <br /> A project is deemed "entitled" and has construction rights when a building permit is <br /> secured. Conversely, no building permit can be issued for a project that would be in <br /> excess of the MAD limitations. In order for a project that is in excess of MAD limitations <br /> to proceed, a DTPP amendment must be approved by the Council. <br /> Recent Development Activity <br /> The private development market has reacted swiftly since the adoption of the DTPP. A <br /> total of nine (9) development projects have obtained planning entitlements and building <br /> permits in accordance with the DTPP. Six (6) other projects have recently been <br /> submitted. The following chart summarizes project details and status. In order to provide <br /> a simple overview of the type of development being submitted, this chart only provides <br /> gross square footage and housing unit counts. A more detailed chart that provides <br /> square footage removed as a result of these projects, is attached to this report. <br /> Page 2 of 9 <br />