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CC - Item 4D - Second Reading and Adoption of Ordinance No. 1021 Rescinding the Approval of Zone Change 22-02 and Specific Plan Amendment 22-01ROSEMEAD CITY COUNCIL STAFF REPORT TO: THE HONORABLE MAYOR AND CITY COUNCIL FROM: BEN KIM, CITY MANAGER DATE: FEBRUARY 27, 2024 SUBJECT: SECOND READING AND ADOPTION OF ORDINANCE NO. 1021 RESCINDING THE APPROVAL OF ZONE CHANGE 22-02 AND SPECIFIC PLAN AMENDMENT 22-01 SUMMARY On February 13, 2024, the City Council approved for first reading Ordinance No. 1021, rescinding the approval of Zone Change 22-02 and Specific Plan Amendment 22-01 by reverting the zoning of 7849-7857 Garvey Avenue and 7900-7916 Virginia Street from Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) back to its original zone, which is Garvey Avenue Specific Plan (GSP) and Garvey Avenue Specific Plan, Residential/Commercial (GSP- R/C) and determine the action is exempt from CEQA. STAFF RECOMMENDATION That the City Council approve the second reading, by title only, and adopt Ordinance No. 1021, rescinding the approval of Zone Change 22-02 and Specific Plan Amendment 22-01 by reverting the Zoning Map and Figure 3.1 of the Garvey Avenue Specific Plan of the subject properties from Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) back to its original zone, which is Garvey Avenue Specific Plan (GSP) and Garvey Avenue Specific Plan, Residential/Commercial (GSP-R/C), located at 7849-7857 Garvey Avenue and 7900-7916 Virginia Street and determine the action is exempt from CEQA. ENVIRONMENTAL ANALYSIS Pursuant to California Environmental Quality Act ("CEQA") Section 15378 (a) a "project," under CEQA, means "the whole of an action, which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment." The whole of the action in this case is the adoption of an ordinance rescinding a prior ordinance for a zone change and specific plan amendment. Therefore, this action is not considered a "project' under CEQA and does not require environmental analysis as there is no potential for a direct or reasonably foreseeable indirect physical change on the environment. In addition, the action is exempt under CEQA guidelines 15061 (b)(3) (Common Sense Exemption) and 15061 (b)(4) (Project Rejected or Disapproved). AGENDA ITEM 4.1) City Council Meeting February 27, 2024 Page 2 of 2 FISCAL IMPACT —None PUBLIC NOTICE PROCESS This item has been noticed through the regular agenda notification process. Prepared by: Ericka Hernandez City Clerk Attachment A: Ordinance No. 1021 Attachment B: City Council Staff Report, Without Attachments, dated February 13, 2024 Attachment A Ordinance No. 1021 ORDINANCE NO. 1021 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ROSEMEAD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, RESCINDING THE APPROVAL OF ZONE CHANGE 22-02 AND SPECIFIC PLAN AMENDMENT 22-01 BY REVERTING THE ZONING MAP AND FIGURE 3.1 OF THE GARVEY AVENUE SPECIFIC PLAN OF THE SUBJECT PROPERTIES FROM GARVEY AVENUE SPECIFIC PLAN, INCENTIVIZED MIXED-USE (GSP-MU) BACK TO ITS ORIGINAL ZONE, WHICH IS GARVEY AVENUE SPECIFIC PLAN (GSP) AND GARVEY AVENUE SPECIFIC PLAN, RESIDENTIAL/COMMERCIAL (GSP-R/C), LOCATED AT 7849-7857 GARVEY AVENUE AND 7900-7916 VIRGINIA STREET AND DETERMINE THE ACTION IS EXEMPT FROM CEQA WHEREAS, on July 11, 2023, the City Council adopted Ordinance No. 1016, approving Zone Change 22-02 and Specific Plan Amendment 22-01 to amend the Zoning Map and Figure 3.1 of the Garvey Avenue Specific Plan by changing the zone of the subject properties from Garvey Avenue Specific Plan (GSP) and Garvey Avenue Specific Plan, Residential/Commercial (GSP-R/C)to Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) zone, for the development of a seven -story, mixed-use development with 35,105 square feet of nonresidential (commercial) use and 93 residential apartments, which includes 24 live/work units. WHEREAS, on January 5, 2024, the project applicant Green Park Property LLC ("Green Park") submitted a letter to the City, requesting that the City Council rescind the project approvals for the Strathmore Garvey Mixed -Use Project due to economic reasons making the project infeasible. According to their letter, which is included as Attachment "C" to the Ordinance, the federal interest rate hikes in combination with the unstable and unpredictable economic circumstances make the project financially infeasible at this time and have required the applicant to re-evaluate their financial stability in the short- and medium-term. WHEREAS, on February 1, 2024, seventy-six (76) notices were sent to property owners within a 300 -feet radius from the subject property, in addition to notices posted in six (6) public locations, on-site, published in the Rosemead Reader, and filed with the Los Angeles County Clerk, specifying the availability of the application, plus the date, time, and location of the public hearing for the rescission of Zone Change 22-02 and Specific Plan Amendment 22-01, pursuant to California Government Code Section 65091(a)(3); and WHEREAS, as a follow up to its request to rescind the project approvals Green Park has agreed to continue to be bound by the Project's original Condition of Approval 9 and to defend, indemnify and hold harmless the City from any claim to challenge the City's decision made in response to Green Park's request to rescind the project approvals as stated in Attachment D to the Ordinance; and WHEREAS, the City Council held a duly noticed public hearing on February 13, 2024, to consider the rescission request for Zone Change 22-02 and Specific Plan Amendment 22-01; and WHEREAS, the City Council fully studied the rescission request for Zone Change 22-02 and Specific Plan Amendment 22-01, and considered all public comments; and WHEREAS, the City Council, having final approval authority over this request, has reviewed and considered all comments received. THE CITY COUNCIL OF THE CITY OF ROSEMEAD HEREBY ORDAINS AS FOLLOWS: SECTION 1. The Council finds that the above recitals are true and are specifically incorporated herein by this reference. SECTION 2. The City Council HEREBY DETERMINES that the rescission of Zone Change 22-02 and Specific Plan Amendment 22-01 is exempt from the California Environmental Quality Act (CEQA). Pursuant CEQA Section 15378 (a) a "project," under CEQA, means "the whole of an action, which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment." The whole of the action in this case is the adoption of an ordinance rescinding a prior ordinance for a zone change and specific plan amendment. Therefore, this action is not considered a "project' under CEQA and does not require environmental analysis as there is no potential for a direct or reasonably foreseeable indirect physical change on the environment. In addition, the action is exempt under CEQA guidelines 15061 (b)(3) (Common Sense Exemption) and 15061 (b)(4) (Project Rejected or Disapproved). SECTION 3. The City Council HEREBY RESCINDS Zone Change 22-02 and AMENDS the Zoning Map to revert the zone of 7849-7857 Garvey Avenue (APNs: 5287-038- 018, -019,-020 and -029) from Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) zone to Garvey Avenue Specific Plan (GSP) and 7900-7916 Virginia Street (APNs: 5287-038-030 and -033) from Garvey Avenue Specific Plan, Residential/Commercial (GSP-R/C) zone and as shown in Attachment A to the Ordinance. SECTION 4. The City Council HEREBY RESCINDS Specific Plan Amendment 22-01 and AMENDS Figure 3.1 of The Garvey Avenue Specific Plan to revert the zone of 7849-7857 Garvey Avenue (APNs: 5287-038-018, -019, -020 and -029) from Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) zone to Garvey Avenue Specific Plan (GSP) and 7900-7916 Virginia Street (APNs: 5287-038-030 and -033) from Garvey Avenue Specific Plan, Residential/Commercial (GSP-R/C) zone and as shown in Attachment B to the Ordinance. SECTION 5. Severability. The City Council hereby declares that, should any provision, section, subsection, paragraph, sentence, clause, phrase, or word of this Ordinance or any part thereof, be rendered or declared invalid or unconstitutional by any final court action in a court of competent jurisdiction or by reason of any preemptive legislation, such decision or action shall not affect the validity of the remaining section or portions of the Ordinance or part thereof. The City Council hereby declares that it would have independently adopted the remaining provisions, sections, subsections, paragraphs, sentences, clauses, phrases, or words of this Ordinance irrespective of the fact that any one or more provisions, sections, subsections, paragraphs, sentences, clauses, phrases, or words may be declared invalid or unconstitutional. SECTION 6. Publication. The City Clerk shall certify to the adoption of this Ordinance and shall publish a summary of this Ordinance and post a certified copy of the full Ordinance in 2 the office of the City Clerk at least five days prior to the adoption and within 15 days after adoption of the Ordinance, the City Clerk shall publish a summary of the Ordinance with the names of the Council Members voting for and against the Ordinance. This Ordinance shall take effect thirty (30) days after the date of its adoption. SECTION 7. Effective Date. This Ordinance shall take effect thirty (30) days after its adoption. PASSED, APPROVED, AND ADOPTED this th day of , 2024. ATTEST: Ericka Hernandez, City Clerk Attachments to Ordinance: Steven Ly, Mayor APPROVED AS TO FORM: Rachel H. Richman, City Attorney A. Amendments to the City's Zoning Map B. Amendments to Figure 3.1 Zoning of the Garvey Avenue Specific Plan C. Request for rescission from Green Park Property LLC D. Green Park Property, LLC Agreement to be bound by the terms in Condition of Approval 9 and indemnify City from any claim challenging rescission, dated February 1, 2024 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) ss CITY OF ROSEMEAD ) I, Ericka Hernandez, City Clerk of the City of Rosemead, County of Los Angeles, State of California, hereby certify that Ordinance No. 1021 was first introduced at the regular meeting of February 13, 2024, by first reading. Said Ordinance was approved and adopted by the City Council of the City of Rosemead at a regular meeting held on the 27' day of February 2024, by the following vote: AYES: NOES: ABSENT: ABSTAIN: 11 Ericka Hernandez, City Clerk Attachment "A" CITY OF cm of SAN GABRIEL TEMPLE CITY i All ji Wl a Y CM OF EL MONTE E � u.ea.. • e - � ; � ; i CITY OF SOUTH EL MONTE MONTE EY PARK 1 \ 1CITY OF 1� /cgFAna+A<rARK 5 CITY OF mmmM LW NOT TO SCPIE s"w N-ly R¢sl], tial - CI -MV Cmmwcal/1Muah GASP C: Qd w Avenue R-2 lhl M01RegE .l M..u- - Spe[ Man, Mes tal R-3 MMrvm MUIEge ReyEentlal �. RO FM�YN DeebMlrtY�I Cprvnertal p U day �C-I Ib3tiMMCO Can at PS Chen Spxe 'n `--�C4 Manes _ C-3 WSam COTTav[W fAw: earvey A. Spam Q _ CY Pmoma Ca al pa� G -MuGm Avznuz 0.C-MVW Rest ..V ® Co n,.l M..M urt C Central Bmress Ustrkt _ 5pe[Iflc Mo. 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Incentvaed MMed-Uaa 0 400 800 1200fM 3 Attachment C Green Park Property LLC 120 E. Valley Blvd, San Gabriel, Ca 91776 Tel: 626-307-0062 January 3, 2024 Mr. Stan Wong Interim Director of Community Development City of Rosemead 8838 East Valley Boulevard Rosemead, CA 91770 Re: Request for Recission of Green Park, LLC's Project Approvals for the Strathmore Garvey Mixed Use Project (7849-7857 Garvey Avenue & 7900- 7916 Virginia Street) Dear Mr. Wong: On June 27, 2023, the City Council of the City of Rosemead ("City Council") approved Green Park Property, LLC's ("Green Park") proposed Strathmore Garvey Mixed Use Project ("Project"). Specifically, the City Council approved a Zone Change and Specific Plan Amendment for the project. Unfortunately, due to a changing economic landscape making construction and operation of the project financially infeasible, Green Park has recently determined that it cannot move forward with the Project. As such, Green Park respectfully requests that the Rosemead City Council rescind its approval of the Project and related entitlements, so that Green Park may allocate its resources elsewhere and potentially find an alternative use for the parcel that would be more economically -viable. The Federal Reserve's recent string of federal interest rate hikes, combined with the United States' (and, in particular, California's) persistently unstable and unpredictable economic circumstances have required that Green Park undertake a reevaluation of its asset risk profile, in order to assure the company's financial stability in the short- and medium-term. These regional, national, and international economic conditions have made Green Park's financial landscape increasingly challenging. In addition, other ongoing projects have tightened Green Park's cash flow, and have required Green Park to reconsider its resource allocation.By reevaluating Green Park's priorities and redirecting resources to more viable ventures, Green Park aims to navigate these economic uncertainties and position itself for future success. 402646529.3 As such, we are formally requesting that the Community Development Department place rescission of the Project'scurrent approvals on the next available City Council agenda. This decision is a proactive response to the current complex economic environment, and seeks to safeguard Green Park's financial stability and ensure the responsible allocation of our resources. Green Park sincerely appreciates the City of Rosemead and all of its officers and employees for their assistance during our approval process. We look forward to future opportunities to invest in this community, when conditions allow us to do so. Please let us know if you have any questions or concerns that we may help address. Thank you for your consideration of this matter. Sincerely, Ngo Managing Green Park Property LLC. 402646529.3 Attachment D Green Park Property LLC 120 E. Valley Blvd, San Gabriel, Ca 91776 Tel: 626-307-0062 February 1, 2024 Mr. Stan Wong Interim Director of Community Development City of Rosemead 8838 East Valley Boulevard Rosemead, CA 91770 Re: Indemnification Agreement re Strathmore Garvey Mixed Use Project Dear Mr. Wong: Pursuant to the City's request, this letter memorializes that Green Park Property LLC agrees to continue to be bound by the Indemnification Condition associated with the approval of the Strathmore Garvey Mixed Use Project ("Project") regardless of the recission of the associated approvals. Green Park Property LLC also agrees to indemnify the City in any claims related to the recission of the approvals, on the same terms as were established by the Indemnification Condition of the original approvals. Sincerely, Gerard Ngo Managing Green Park Property LLC 402696529.3 Attachment B City Council Staff Report Only Dated February 23, 2024 ROSEMEAD CITY COUNCIL STAFF REPORT TO: THE HONORABLE MAYOR AND CITY COUNCIL FROM: BEN KIM, CITY MANAGER DATE: FEBRUARY 13, 2024 SUBJECT: PUBLIC HEARING TO RESCIND THE CITY COUNCIL'S APPROVAL ON ZONE CHANGE 22-02 AND SPECIFIC PLAN AMENDMENT 22-01 - 7849-7857 GARVEY AVENUE AND 7900-7916 VIRGINIA STREET AS REQUESTED BY THE APPLICANT GREEN PARK PROPERTY LLC AND DETERMINE THE ACTION IS EXEMPT FROM CEQA SUMMARY On July 11, 2023, the City Council adopted Zone Change 22-02 and Specific Plan Amendment 22-01, which changed the zone of the subject properties from Garvey Avenue Specific Plan (GSP) and Garvey Avenue Specific Plan, Residential/Commercial (GSP-R/C) to Garvey Avenue Specific Plan, Incentivized Mixed -Use (GSP-MU) zone, for the development of a new residential/commercial mixed-use development. On January 5, 2024, the applicant, Green Park Property LLC, submitted a letter to the City, requesting that the City Council rescind the approval of Zone Change 22-02 and Specific Plan Amendment 22-01. ENVIRONMENTAL ANALYSIS Pursuant to California Environmental Quality Act ("CEQA") Section 15378 (a) a "project," under CEQA, means "the whole of an action, which has a potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment." The whole of the action in this case is the adoption of an ordinance rescinding a prior ordinance for a zone change and specific plan amendment. Therefore, this action is not considered a "project' under CEQA and does not require environmental analysis as there is no potential for a direct or reasonably foreseeable indirect physical change on the environment. In addition, the action is exempt under CEQA guidelines 15061 (b)(3) (Common Sense Exemption) and 15061 (b)(4) (Project Rejected or Disapproved). DISCUSSION On July 11, 2023, the City Council adopted Ordinance No. 1016 (see Attachment "A") for the Strathmore Garvey Mixed -Use Project which approved the rezoning of the project site from GSP AGENDA ITEM 4.A City Council Meeting February 13, 2024 Page 2 of 3 and GSP-R/C to GSP-MU for the construction of a new mixed-use development. The project consisted of a seven -story, mixed-use development with 35,105 square feet of nonresidential use and 93 residential apartments (including 24 live/work units), 208 parking spaces, new landscaping, and private and common open space. On January 5, 2024, Green Park Property LLC submitted a letter to the City requesting that the City Council rescind the project approvals for the Strathmore Garvey Mixed -Use Project due to economic reasons making the project infeasible. According to their letter, which is attached as Attachment "C", the Federal interest rate hikes in combination with the unstable and unpredictable economic circumstances make the project financially infeasible at this time and have required the applicant to re-evaluate their financial stability in the short- and medium-term. Green Park Property LLC has also agreed to be bound by Condition of Approval 9 even if the Project approvals are rescinded by the Council as well as to indemnify the City for actions related to the rescission. (See Attachment "D") The rescission of the project would revert the zone of the properties from GSP-MU back to its original zone, which are GSP and GSP-R/C. The GSP is a commercial zoning district, which allows a diverse range of retail, service, and office businesses. The GSP-R/C zoning district allows for residential or commercial development. STAFF RECOMMENDATION That the City Council: 1. Conduct a public hearing and receive public testimony; 2. Determine the item is exempt from CEQA as stated in the staff report; and City Council Meeting February 13, 2024 Page 3 of 3 3. Introduce the first reading, by title only, Ordinance No. 1021 (Attachment `B"), approving the rescission of Zone Change 22-02 and Specific Plan Amendment 22-01. FISCAL IMPACT — None STRATEGIC PLAN IMPACT — None PUBLIC NOTICE PROCESS This item has been noticed through the regular agenda notification process, which includes a 300' radius public hearing notice to seventy-six (76) property owners, publication in the newspaper on February 1, 2024, postings of the notice at the six (6) public locations, and on the subject site. Prepared by: Cf V Annie Lao Associate Planner Reviewed by: _14� Lily Vkenzuela Planning and Economic Development Manager Submitted by: I wk Stan Wong Interim Director of Community Development Attachment A: Ordinance 1016 Attachment B: Ordinance 1021 Attachment C: Green Park Property LLC's Letter of Rescission Request Attachment D: Green Park Property LLC's agreement to be bound by Condition of Approval 9