City Council

4.\nSECOND READING AND ADOPTION OF ORDINANCE NO. 1573 - THE\nDEVELOPMENT OF 145 RESIDENTIAL UNITS AT THE SOUTHEAST\nCORNER OF 17TH STREET AND PROSPECT AVENUE (CYPRESS\nGROVE PROJECT) Adoption of Ordinance No. 1573 approves Zone\nChange 2025-0001 to rezone the Cypress Grove project site from Planned\nCommunity Business Park to Planned Community Residential and adopt a\nnew development plan to establish permitted residential uses and\ndevelopment\nstandards\nfor\nthe\nconstruction\nof\n145\nresidential\ncondominiums on approximately 8.5 acres.\nRecommendation: That the City Council have second reading by title only\nand adoption of Ordinance No. 1573. ORDINANCE NO. 1573 AN\nORDINANCE OF THE CITY COUNCIL OF THE CITY OF TUSTIN,\nCALIFORNIA APPROVING ZONE CHANGE 2025- 0001 TO AMEND THE\nCITY’S ZONING MAP TO APPLY THE PLANNED COMMUNITY\nRESIDENTIAL\nZONING\nDESIGNATION TO AN\n8.5-ACRE\nSITE\n(ASSESSOR PARCEL NUMBERS (APNS) 401-401-12, -13, -14, -15, -16,\nAND -17) TO ACCOMMODATE THE CONSTRUCTION OF A 145-UNIT\nRESIDENTIAL CONDOMINIUM PROJECT Fiscal Impact: There is no\nfiscal impact associated with this item however, the applicant has provided\na Fiscal Impact Analysis that considered ongoing general fund revenues to\nthe City from property tax and sales tax, showing an estimated net positive\nbenefit of about $191,000 in the first year.\nAGENDA REPORT