Reasons for Exemption
The University has determined the proposed acquisition and leaseback of the Property is exempt under California Environmental Quality Act (CEQA) Guidelines Section 15301, Existing Facilities because there are no proposed changes or intensity of use to the Property. On a separate and independent basis, the acquisition and leaseback of the Property is also exempt pursuant to CEQA Guidelines Section 15061(b)(3) because there would be a change in ownership in the property with no change in use, and therefore, it can be seen with certainty that there is no possibility the acquisition by itself would have a significant effect on the environment. The action does not commit the University to any future redevelopment. Any future action on the property would be subject to additional CEQA documentation and approval, and is not a subject of the proposed transaction. In addition, no exception to the exemptions pursuant to CEQA Guidelines Section 15300.2 apply. The acquisition of the Property is also consistent with CEQA Guidelines Section 15004(b)(2) (2) because the University has not formally made a decision to proceed with the use of the site or otherwise taken any action that forecloses alternatives or mitigation measures that would ordinarily be part of CEQA review.