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01/24/2011 Exhibit B generated by the project during the morning commute time, these changes would also be expected to result in a greater decrease in vehicle trips during the afternoon - evening commute time. Thus, overall, the modifications under Alternative 4 are expected to slightly reduce the severity of traffic impacts as compared to the project described in the EIR, although those impacts would be expected to remain significant and unavoidable. As noted above, the modifications under Alternative 5 would impose additional historic resources protections within the DPP area. (Draft EIR at pp. 19 -4 to 19 -5 and Final EIR at pp. 19 -4 to 19 -5A) Like Alternative 4, Alternative 5 would be expected to result in similar levels of environmental effects in all categories of impacts evaluated in the EIR. Of the three categories of significant effects identified in the EIR, Alternative 5 would not result in any change in the severity of the transportation or climate change effects. (Draft EIR, pp. 19 -16 to 19 -17 (Table 19.3) and pp. 19 -26 to 19 -28) With respect to the potentially significant historic resources effects, Alternative 5 would be expected to slightly reduce those effects due to the additional historic resources protections that would be imposed under that alternative, although those effects would be expected to remain significant and unavoidable. In addition, the City finds that the modified Downtown Precise Plan would better achieve the City's goals and objectives for the Project, than the Downtown Precise Plan described as the project in the EIR. Specifically, the increase in permitted new office uses and the corresponding reduction in permitted new retail uses would be expected to better promote investment in the downtown area, due to the current availability of existing retail space and the relative lack of downtown office space. By changing the mix of proposed new office and retail uses in this manner, the modified Downtown Precise Plan would be expected to more effectively encourage investment downtown and better produce a more vibrant and robust economy in Redwood City. In addition, the increased historic resource protections offered by the modified Downtown Precise Plan would be expected to better achieve the City's goals of encouraging and promoting the preservation of the City's historic resources, and creating a visually appealing and memorable Downtown through the restoration and re -use of historic buildings, while preserving the Downtown's historic character. In sum, because the modified Downtown Precise Plan would not increase the number or severity of any of the anticipated significant effects of the proposed project described in the EIR, would reduce the severity of certain environmental effects, and would better achieve the City's goals and objectives for the downtown than the plan described as the project in the EIR, the City declines to adopt the Downtown Precise Plan described as the project in the EIR, and instead adopts a modified version of the Downtown Precise Plan that incorporates the changes described as Alternatives 4 and 5 in the EIR (referred to in these Findings as the "Project "). U:\Resolutions\2011\Reso 15086 Exhibit B.doc 57 012011 Reso. # 15086 Muff #601