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10 <br /> <br />· Existing balance: $434,538 <br />· 550 Allerton: $1,550,000 <br />· 815 Hamilton (net retained by City): $350,000 <br />$2,334,538 (subtotal) <br />· Proposed 601 Marshall: $2,950,000 <br />$5,284,538 (total) <br /> <br />In summary, the City has a multi-pronged approach to traffic and parking management <br />strategies in downtown Redwood City. The combination of new shared public parking, <br />required TDM planning, physical right-of-way improvements geared toward pedestrian <br />and bicycle safety and the collection of in-lieu fees to fund the creation of new public <br />parking facilities, along with scheduled Caltrain commuter upgrades work together to <br />achieve the transportation and parking goals of the DTPP. <br /> <br />ALTERNATIVES <br />As noted in the September 28, 2015 City Council staff report, the Council has broad <br />discretion to approve a project that would best fit the site and location, and implement <br />the vision of the DTPP. The Council may choose to make further design or operational <br />modifications to the development proposal. <br /> <br />FISCAL IMPACT <br />Review of the proposed project is subject to the City’s Cost Recovery System, <br />therefore, direct costs during the entitlement process associated with staff and <br />consultant time are covered by an applicant deposit. Should the appeals be denied and <br />the project approved, the Applicant will be required to pay all associated development <br />impact fees, as applicable and established by ordinance. <br /> <br />ENVIRONMENTAL REVIEW <br />In 2010, an Environmental Impact Report (State Clearinghouse #2006052027) was <br />prepared to assess potential impacts resulting from the implementation of the DTPP. <br />The DTPP established new land use, development, and urban design regulations for <br />the 183-acre DTPP area, including the potential for up to 500,000 square feet of new <br />office space. The DTPP Environmental Impact Report (EIR) was certified by the City <br />Council on January 24, 2011. <br /> <br />An Initial Study Checklist was prepared to determine whether any new effects not <br />identified in the DTPP EIR may be created by the approval and construction of the <br />proposed 601 Marshall Street project. The Initial Study Checklist confirmed that the <br />proposed project would not result in any new environmental impacts that were not <br />considered in the DTPP Program EIR, nor would it result in any substantial increase in <br />the severity of impacts identified in the EIR. On September 21, 2015, the Initial Study <br />Checklist was revised (including to reference updated technical reports) for review and <br />consideration by the City Council. <br /> <br />7.C. - Page 10