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HomeMy WebLinkAbout01 DEVELOPMENT AGREEMENT 06-002 05-01-07MEETING DATE: MAY 1, 2007 TO: WILLIAM HUSTON, CITY MANAGER FROM: COMMUNITY DEVELOPMENT DEPARTMENT SUBJECT: DEVELOPMENT AGREEMENT 06-002 SUMMARY: Development Agreement (DA) 06-002 is proposed by Tustin Legacy Community Partners, LLC. (the developer), a Delaware limited liability company. The purpose of DA 06-002 is to give the developer certain assurance that in return for Developer's commitment to the comprehensive planning for the Property that is contained in the Disposition and Development Agreement (DDA) and the Specific Plan, the City will in turn remain committed to the DDA and the Specific Plan. (Applicant: Tustin Legacy Community Partners, LLC.) RECOMMENDATION: That the Council continue DA 06-002 to the June 5, 2007, City Council meeting. BACKGROUND AND DISCUSSION: Staff is recommending a continuance of DA 06-002 for two reasons: The signatory parties to the Agreement must be approved members of the Tustin Legacy Community Partnership; and, The Development Agreement will give the TLCP several assurances, one of which is that the City will not modify existing land use regulations in effect as of the effective date of the DA. The Council has not taken final action on Specific Plan Amendment/Zone Change 07-001 which would allow tandem parking in residential developments and compact spaces in non-residential developments and would specify their required dimensions. If the Council does not approve the Specific Plan Amendment/Zone Change, adoption of the DA would impede the Council's ability to modify these regulations in the future. Elizabeth A. Binsack Community Development Director