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06/07/2004 the Project, if financially sustainable at all, could not generate sufficient revenue to provide public access, waterfront features and other community - serving amenities which are also fundamental, identified Project objectives. Based on the foregoing and the discussion in Section 17.2 of the FEIR, the City finds that, on balance, the Project provides substantially greater public benefits than Alternative 2 and that Alternative 2 is not a feasible alternative to the Project. C. Buildout Under Existing General Plan And Zoning Entitlements — All Commercial (Alternative 3) Description: Alternative 3 assumes development of the Project site with the maximum commercial floor area permissible under current General Plan and zoning designations, resulting in development of up to approximately 1,250,000 square feet of commercial floor area, including 1,230,000 square feet of office area and 20,000 square feet of retail- restaurant floor area. Findings: As compared to the proposed Project, Alternative 3 would result in reduced, but still significant, environmental impacts in the areas of land use, visual impacts, biological resources, infrastructure and public services, soils and geology, public health and safety, noise, and cultural and historic resources. Like Alternative 2, Alternative 3 would actually result in slightly increased transportation and circulation environmental impacts. Environmental impacts in the areas of hydrology and water quality and air quality would be similar to those associated with the Project. With respect to population, housing and employment, Alternative 3, with no residential development at all, would contribute substantially to the existing citywide imbalance between residents and jobs, resulting in increased in- commuting. It would completely fail to achieve the basic housing - related objectives of the Project identified in the discussion of the No Project Alternative above and in the FEIR, and is therefore not a feasible alternative to the Project. D. Reduced Commercial, With Reduced Building Heights And Reduced Marina Fill (Alternative 4) Description: Alternative 4 assumes that the Project site would be developed as a mixed use residential - commercial complex similar to the proposed Project, with the same residential unit total (1,930 condominium residential units for sale) but with less commercial floor area, as a means of reducing building intensity and height and reducing the amount of marina fill. Alternative 4 would reduce the amount of commercial floor area from 312,000 square feet under the Initial Project to 162,000 square feet, including 12,000 square feet of convenience retail /restaurant space (less than the Project) and 150,000 square feet of office space (versus 300,000 square feet for the Initial Project). The reduced commercial floor area would permit an increase in the number of multi -story residential structures from 13 under the Initial Project to 15, an associated (8 %) reduction in the maximum residential structure height from 260 feet down to 240 feet and a reduction in marina fill from approximately 11.54 acres under the Initial Project or 10 acres under the proposed Project, to approximately 9 acres under Alternative 4. 1289 \02 \179278.2 37 Atty /Reso /Reso.1470 14590 060804 Muff # 304 Bin 26