27.38.140 DOWNTOWN ECONOMIC DEVELOPMENT.

To encourage development of large, vacant, underutilized parcels as designated in the Downtown Plan, exceptions from land use standards contained in this title may be granted upon approval of a downtown economic development permit by the City Council for properties in the Central Business District (CBD). Approval of such an application shall be based on the following findings:

(a) The project is consistent with the goal statements of the Downtown Plan;

(b) The project is of an excellent design quality and is consistent with the Downtown Retail Core and Downtown Historic District Design Guidelines;

(c) The project is a significant development which presents a substantial economic development opportunity for the City and attempts to maximize use of the site;

(d) The project has a minimum building floor area ratio of 1.0 (not including surface and structured parking) or includes a substantial public improvement such as a public parking garage, open space plaza, public marketplace or other public facility; and

(e) Any unmitigated significant impacts are outweighed by the project's economic, social or other benefits.

In no case, however, shall the project exceed the maximum height and bulk standard and building intensity standard as set forth in Chapter 27.40, Building Height and Bulk Overlay District and the Building Height and Intensity Plan of the General Plan.