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03/27/2007 Impact 9-20: Project Contribution to Cumulative Impacts at the Veterans Boulevard/Brewster Avenue Intersection Impact 9-21: Project Contribution to Cumulative Impacts at the Veterans Boulevard/Woodside Road Intersection Impact 9-22: Project Contribution to Cumulative Impacts on US 101 Impact 12-2: Long-Term Regional Emissions Increases These impacts cannot be avoided or substantially reduced by feasible changes or alterations to the Project, other than the changes or alterations adopted or provided for under this Resolution. 4. Overriding Considerations. This Council specifically adopts this Statement of Overriding Considerations, finding that this Project includes all feasible measures that would eliminate or substantially lessen the significant impacts of the Project on the environment, and that the remaining significant, unavoidable impacts of the Project are acceptable in light of the environmental, economic, social and other considerations set forth herein because the benefits of the Project outweigh the significant and adverse impacts of the Project. This Council finds that each of the overriding considerations set forth below constitutes a separate and independent ground for finding that the benefits of the Project outweigh its significant adverse environmental impacts and sets forth an overriding consideration warranting approval of the Project. This Council has considered the FEIR, the public record of proceedings on the proposed Project and other written materials presented to the City as well as oral and written testimony at all public hearings and meetings related to the Project, and does hereby determine that implementation of the Project as specifically provided in the Project documents would result in the substantial public benefits set forth below. This Council has weighed the benefits of the proposed Project against its unavoidable environmental risks and adverse environmental effects identified in the FEIR and hereby determines that those benefits, as outlined below, outweigh the risks and adverse environmental effects and, therefore, further determines that these risks and adverse environmental effects are acceptable. A. Providing New Housing. A stated objective of the Project is to provide housing concentrated in the Downtown. The Project, in concert with the City's Draft General Plan Housing Element, is intended to provide for the expansion of city housing choices by encouraging compact, transit-accessible, pedestrian- oriented housing and mixed use (commercial/housing) development Downtown at densities and heights greater than currently permitted. Under the Moderate Intensity project alternative, development in accordance with the proposed Precise Plan would provide a net increase of up to 2,500 new housing units, a significant and much-needed addition to the overall housing stock of the City, Atty/Reso/Reso.1683 4 14769 030707 Muff #613