HomeMy WebLinkAboutBROOKFIELD ENA PRESENTATION - 2.5.19NEIGHBORHOOD D SOUTH –BROOKFIELD ENA
DEVELOPER –BROOKFIELD HOMES
■Homebuilder with nationwide experience including Tustin Legacy
■Shortlisted for-sale developer for Tustin Legacy in 2012
■Built Huntley (77 homes) in the Greenwood Community at Tustin Legacy
■The City’s Disposition Strategy allows rolling take-downs based on performance:
–“The City, particularly on the residential Disposition Packages, will also reserve the
flexibility to offer subsequent rolling take-downs or Disposition Packages to builders
based on performance.”
–“Opportunities for individual developers who demonstrate success on initial
development opportunities within the Project to be provided with rolling take down
options on future phases or segments should also be considered . . .”
EXCLUSIVE NEGOTIATING AGREEMENT (ENA)
■9 Month Term of Negotiation resulting in DDA
■One 60 day Extension at City Manager’s discretion
■Developer to demonstrate Financial Capacity and Capability to complete project
■Negotiate terms and conditions of development including Scope of Development and Schedule of
Performance
■Negotiate base Purchase Price and terms of Profit Participation
■City to establish “Tax B” Maximum Tax Burden Schedule applicable to project
■Developer to pay $150,000 Good Faith Deposit to cover staff/consultant costs; replenished
throughout the Negotiating Period to cover all City Transaction Expenses
■Approximately 400 for-sale homes on roughly 28.7 gross acres consisting of:
–Single Family Detached homes
–Townhomes
–Flats
■Developer to perform Due Diligence and process Entitlements during Negotiations