HomeMy WebLinkAbout2 DDA 2012-002 - TUSTIN LEGACY (ST ANTON PARTNERS)AGENDA REPORT
Agenda Item 2
Reviewed.
City Manager
Finance Director VWA
MEETING DATE: OCTOBER 30, 2012
TO: JEFFREY C. PARKER, CITY MANAGEW
V DEVELOPMENT
FROM: ELIZABETH A. BINSACK, COMMUNITY DIRECTOR
SUMMARY:
The Tustin City Council has approved the "Tustin Legacy Disposition Strategy for the Former
Master Developer Footprint" for Neighborhoods B, D, E, and G" and directed staff to begin
marketing of certain "Disposition Packages" at the property. Disposition Package IA-North is an
8.073 acre multifamily residential parcel and a 4.706 acre park parcel (12.779 acres gross) that
was advertised by staff through a Request for Proposals process that resulted in St. Anton
Partners being selected to develop the site. On June 19, 2012, an Exclusive Negotiation
Agreement (ENA) was executed with The Irvine Company for St. Anton Partners. On October 9,
2012, the Tustin Planning Commission adopted Resolution No. 4205 recommending that the
Tustin City Council approve Development Agreement (DA) 2012-002, Concept Plan (CP) 2012-
003, Design Review (DR) 2012-005, Density Transfer, Density Bonus, and Concessions or
Incentives authorized under Tustin City Code Section 9123 related to the development of 225
affordable apartment units in compliance with California Government Code Section 65915(1) at
Disposition Package IA-North, Tustin Legacy.
Staff and St. Anton (the Irvine Company's partner) are nearing completion of the required
Disposition and Development Agreement (DDA) 2012-001 intended to guide conveyance and
execution of the site's proposed development. Additional time is necessary to complete the
agreement and the associated documents (see attached letter).
RECOMMENDATION:
That the City Council continue the Rem to the regular City Council meeting of November 6,
2012.
Elizabeth A. Binsack
Director of Community Development
Attachment: Letter from the Irvine Company dated October 25, 2012
. ... .... . ..
IRVINE COMPANY COMMUNITY
Since 18641 DEVELOPMENT
Daniel H. Young
President
October 25, 2012
Mr. Jeff Parker
City Manager
City of Tustin
300 Centennial Way
Tustin, CA 92780
Thanks to you and your staff for the work to date on our proposal for the development of Disposition
Parcel 2A in Tustin Legacy. I understand that there are a few open issues which need resolution. In
light of that, I believe it best to forgo consideration of our proposed project by the City Council on
October 30'h. I am confident that we will conclude our negotiations on all issues and that the project
will be ready for consideration on November 6th.
Please feel free to contact me with any questions.
Sincerely,
Daniel . Youiog
President
550 Newport Center Drive, Newport Beach, CA 92660 p 949.720.2526 f 949.720.2575