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7.A. - Page 11 of 41 <br />of the General Plan Amendment Initiation. Additionally, the financial analysis would assess the value of <br />the additional proposed development in relation to the proposed community benefits. <br />Staff anticipates similar financial analyses will be conducted for the Transit District and the Central <br />Redwood City Plan. <br />ENVIRONMENTAL REVIEW <br />In 2010, an Environmental Impact Report (State Clearinghouse #2006052027) was prepared to assess <br />potential impacts resulting from the implementation of the DTPP. The DTPP established new land use, <br />development, and urban design regulations for the 183 -acre DTPP area, including the potential for up to <br />500,000 square feet of office space. The DTPP Environmental Impact Report (EIR) was certified by the City <br />Council on January 24, 2011. <br />Additional environmental review will be required for the project. This environmental review would <br />identify potentially significant unavoidable impacts (significant impacts that cannot be avoided by the <br />proposed project) and potentially cumulative impacts (significant impacts generated by past and future <br />projects in addition to the current proposal). To determine significance of traffic and transportation <br />impacts, the new Vehicle Miles Traveled (VMT) standard would be used consistent with State law. <br />Generally projects within one-half mile of a transit station are considered to have a less than significant <br />effect on traffic and transportation. <br />PUBLIC NOTICE <br />Public notification of the public hearing was achieved by posting the notice on the website, with the <br />agenda items being listed, at least 72 hours prior to the meeting, mailing notices to property owners and <br />tenants within 300 feet, emailing to a list of interested parties, and through City's social media and <br />electronic newsletters. <br />ALTERNATIVES <br />1. Direct staff to bring back additional information for future initiation consideration; or <br />2. Do not initiate a General Plan Amendment and Downtown Precise Plan Amendment. If this option is <br />selected, specify if the project may be substantially changed and returned for reconsideration. <br />Either of these alternatives may impact funding and the timeline associated with development of the <br />Transit District. <br />ATTACHMENTS <br />Attachment A - Resolution initiating proceedings to amend the General Plan and Downtown Precise Plan <br />Attachment B - Estimated timeline for the project and land use studies <br />Page 11 of 12 <br />City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.ore <br />205 <br />