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Item 3 - Exhibit 04 - Project DescriptionProject Description Market Hall is a mixed-use building located within Phase 1 of the North 40 Specific Plan. The building features 50 affordable apartments for seniors, 20,700 square feet of retail space, a 2,772 square foot community room, and 303 parking spaces. Parking is distributed across four floors, three above ground and one subterranean. Per code requirements, 124 parking spaces are required, which leaves an excess of 179 parking spaces. SummerHill is requesting to amend the Market Hall plans to eliminate the subterranean parking level. This still leaves 52 excess parking spaces beyond what is required per the specific plan parking requirements. As described in our project justification letter, these are excess parking spaces not required or needed by the project. Their removal, and the removal of the associated excavation, soil off haul and concrete pours, will benefit the community due to reduced construction activity, a faster horizon for the affordable housing, and reducing traffic during both construction and operation. 52 parking spaces beyond what is required by code will still be provided, and no negative impact on the surrounding community will occur based on this change. Market Hall - Parking Requirements Use Size(1) Ratio (2) Parking Req Original Parking Revised Parking Senior Housing 50 ½ space per unit 25 129 Level 0 Level 0 Senior Guest 50 ½ space per unit 25 63 Level 1 59 Level 1 Market Hall 18,729 1 space per 300 sqft 62 69 Level 2 70 Level 2 Bakery 2,032 1 space per 300 sqft 7 42 Level 3 47 Level 3 Comm. Room 2,772 1 space per 590 sqft 5 Total: Excess: Total: Excess: Total 23,583 124 303 179 176 52 1)Size based on latest building permit plans 2)Ratio per city code and specific plan – 1 space per 300 for retail, ½ space per unit for residential Transition District Parking Parking Area Original Parking New Parking Market Hall 303 176 Parking Area A 64 UNCHANGED Parking Area B 55 UNCHANGED Parking Area C 36 UNCHANGED Total 458 331 EXHIBIT 4 This Page Intentionally Left Blank