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Case ^7umber: 897 - 75 June 4, 1975 3. The numbers invoived are as follovrs; Rage Two T�e tota7 property including the area occupied by the pond is 485,590 square feet. The area occupied by t�e pond is 84,32� square feet. The reamining �and is therefore 401,270 square �eet. According to the ordinance the 720 one-bedroom uni�s require 2,000 square fee� per unit or a�otal of 240,fl00 square feet. i�e 82 t��o-bedroa� units r�quired 2,800 squar� feet per unit or 229,60Q square feet. 7he total required is 469,600 square feet. From this figure should be subtracted the den5ity credit allowed for underground park�ng at a rate 4f 3�0 square feet per underground space as stipulated �n the ordinance. There ar� 189 underground spaces ti�lhich produces a credit of 56,700 square feet. This produces a net r�quirement of 412,900 square feet. Subtracting the 401,270 square �eet (the area of the remaining land) f rom the required 412,9aa square feet produces a shortage of 11,630 square feet on ��e remaining land. This then is the variance requested. 4_ It is impar�ant �o note that the land occupied by the pond �a be transferred ta the City wi�l remain as permanent apen space contiguous to �he apartment build�ng as though it w�re s�iil a part o� the projec�. Th� advantage to the City is of course, the 7and wi71 be available �o �he public as permanent open space and as a permanen� ponding area. The totai praperties {i�cluding the ponding area), are far in excess of the density requirements. ln summary, the pu�pose af the variance is �o accomodate the �ransfer of title of the ponding area and park area �o the City and allow the a�ner �o legally rebuild the apartments sho�ld they �e destroyed in ihe future.