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SR - ORD-08-17 - SECOND READINGORDINANCE NO. 08 -17 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ORANGE APPROVING A DEVELOPMENT AGREEMENT FOR THE BRANCH WEST APARTMENT PROJECT LOCATED AT 1725 WEST KATELLA AVENUE DEVELOPMENT AGREEMENT NO. 0004-17 APPLICANT: BRANCH WEST WHEREAS, the Applicant filed an application with the City to construct a 94 -unit apartment complex on a 1.1 -acre parcel designated in the City of Orange General Plan Land Use Element as Urban Mixed Use (1.5 -3.0 FAR; 30 -60 du/acre) and the allowable residential development capacity under this designation yields 66 residential units; and WHEREAS, the Land Use Element of the City of Orange General Plan provides for the transfer of development rights between sites in the Urban Mixed Use district for purposes including the creation of additional housing units to serve the community; and WHEREAS, the project site is adjacent to a 0.72 -acre City water well that is also designated Urban Mixed Use in the General Plan, yet will remain in long -term use as a water extraction site that supplies water to the community, but would otherwise have development capacity for 42 dwelling units or 94,090 square feet of non - residential development; and WHEREAS, the Katella Corridor in the vicinity of the project site and its intersection with Struck Avenue is characterized by aging traffic signal hardware and operational components in need of replacement, roadway segments that lack sidewalks, and roadway medians in need of landscape and irrigation refurbishment; and WHEREAS, the transfer of development rights for 28 dwelling units to the project site from the City water well site enables the City to exact public benefits including intersection and signal improvements, sidewalk improvements, and aesthetic enhancements to the Katella corridor streetscape, an important gateway to the City from the boundary shared by the Cities of Orange and Anaheim that also experiences high volumes of pedestrian activity and Orange restaurant patronage associated with sporting and entertainment events that occur in the vicinity; and WHEREAS, the City of Orange General Plan Land Use Element envisions the Katella corridor becoming a pedestrian- oriented, mixed -use urban district, building upon the existing restaurant, entertainment, and business activity in the area, as well as capitalizing on the area's proximity to Angels Stadium, The Honda Center, and Anaheim Regional Intermodal Transportation Center; and WHEREAS, the City of Orange General Plan Urban Design Element recognizes the importance of establishing a positive community image at major gateways into the community