Well, I mean we have about the same on both items.

On both items of the I I I know uh uh let me let me see how on the speakers on 332.

I think that we have a number of people that um have to we have a major convention in town that they are attending.

And what I'd like to do, because we only have one speaker in opposition on that item is go to that item next and then come back to 330.

So we're gonna go to 332 uh and we'll take the staff report, a brief staff report.

This is the proposed redevelopment of the Kearney Mesa General Dynamics Site Plan, the new Century Center plan.

This is a plan that has been worked on for a long time by city staff, by council members, to bring forward the reuse of this property so that it will be a true addition to the community.

Uh we appreciate the cooperation of General Dynamics.

I will say that from the beginning it was very important to me to have uh light industrial property, which we very badly need in this city as part of the plan, and I do see that it has been incorporated because I could not support the plan without it.

Uh we do have one speaker in opposition, so what I am going to do uh is uh have the staff report, and then I'm going to go to the speaker in opposition, and then we'll go back to those in favor.

Okay, could I have the staff report?

Yes, Mike Westlake.

Project director.

Thank you, Mayor Golding.

City Council members.

Uh my name is Mike Westlake from the Development Service Department.

I'm the project manager on the New Century Center project.

Uh the proposed new Century Center Master Development Concept Plan includes establishing market-oriented office light industrial around a central market square.

The uh western approximately 85 acres of the site located along the frontage of SR 163 is being redesignated from industrial and business parks general commercial and rezoned from M1B to CA to accommodate retail and entertainment uses.

This portion of the project will accommodate a mixture of retail, entertainment, and mixed commercial land use is totaling 1.4 million square feet.

The eastern approximately 159 acres of the project site will for the most part retain its existing industrial and business park land use designation and M1B zoning.

This component of the project is planned for a campus-style industrial and business park area, incorporating a compatible mix of office research and development, light manufacturing, and industrial uses totaling just over three million square feet, which exceeds the amount of square footage that was in the original General Dynamics Manufacturing Plant.

The new Century Center project was initiated by the Planning Commission in December of 1995, and active and frequent public review of this project has occurred ever since.

The applicant has been meeting monthly with the Kearney Mesa Community Planning Group and many other interested organizations over the life of this project.

After more than 50 meetings with the community over the last three years, the Kearney Mesa Planning Group voted to approve the new Century Center project.

All of the conditions recommending by the planning group have been satisfied.

The planning commission also reviewed this project in great detail.

Five separate planning commission meetings were held, including the initiation hearing, three workshops, and the final planning commission hearing last month.

On October 23rd, the planning commission voted unanimously to approve the New Century Center project.

In addition to the New Century Center project itself, the city manager has successfully negotiated a development agreement with General Dynamics Properties to provide significant and extraordinary public benefits to the communities of Kearney Mesa, Sarah Mesa, and the city as a whole.

And I would now like to introduce Marcel Escobar Eck, who will provide you a summary of the terms and the extraordinary benefits provided through the development agreement.

The city manager's office successfully concluded negotiations with General Dynamics Properties Incorporated on a 15-year development agreement.

The 15 year the development agreement provides for significant and extraordinary benefit to the City of San Diego in a number of ways.

The development agreement will be providing $500,000 towards the construction of the Sarah Mesa Library.

It will also be providing $500,000 towards exclusive Kearney Mesa enhancement fund.

$250,000 will be provided towards the I-15 Auxiliary Lane between Murphy Canyon Road and Friars Road.

There is a contingency in the development agreement that if a funding source is found for the I-15 auxiliary lane through other means, then that money will be split half towards the Kearney Mesa Enhancement Fund and half towards the Sarah Mesa Library.

Permanent preservation of approximately 1,400 acres of the General Dynamics property in the Sycamore Canyon area will be preserved through this development agreement.

Of the 1,100 acres that are on the northern portion of Sycamore Canyon, they uh General Dynamics will be able to sell credit mitigation credits to third parties, and 40% of any potential revenue that comes up in that area will be tagged towards the Mission Trails Regional Park Fund.

Marcel, would you please explain that to me?

Because this is the first time I've heard about it.

I'm not real happy about this.

This what you just said.

I want to hear that again.

The um could you go to the slide that has the Sycamore Canyon?

The property.

This is the Sycamore Canyon site that General Dynamics owns out in this area.

Site J is approximately 1,100 acres, and the area with the pink portion around it is approximately 248 acres.

The 248 acres will be dedicated to the City of San Diego upon execution of the development agreement.

The 1100 acres, which is Site J will be preserved through the Conservation Agreement, which is attachment J of the Development Agreement.

They will also have the ability to get mitigation credits on Site J.

Those mitigation credits will be available to General Dynamics Properties Incorporated to self-mitigate for the impacts of the property that's located outside of the MSCP preserve right here, as well as for their Kearney Mesa site.

It's uncertain whether or not they will get any mitigation credits above and beyond what they need to self-mitigate.

If they do get any mitigation credits above and beyond what they need to self-mitigate, then they will have the potential to make those available to third parties by sale.

If they successfully sell off any mitigation credits, the city of San Diego would get 40 percent of that revenue.

Was there no site uh more appropriate uh with more nexus than this?

Something that uh could have been in the sixth districts since that's where the impact is, and we know the traffic impact is going to be formidable.

Um the 40 percent that the city would possibly get is is a potential.

It may be nothing, and it may be a significant amount because we have not determined what number of mitigation credits are available on site J.

We really don't know what that 40 percent equates to.