HomeMy WebLinkAboutCC RES 07-29 RESOLUTION NO. 07-29 A RESOLUTION OF THE CITY OF TUSTIN CITY COUNCIL FINDING THAT THE FINAL ENVIRONMENTAL IMPACT STATEMENT/FINAL ENVIRONMENTAL IMPACT REPORT FOR THE DISPOSAL AND REUSE OF MCAS TUSTIN ("FEIS/FEIR") AND ITS ADDENDUM IS ADEQUATE TO SERVE AS THE PROJECT EIS/EIR FOR THE FIRST AMENDMENT TO TUSTIN LEGACY DISPOSITION AND DEVELOPMENT AGREEMENT 06-001 (MASTER DEVELOPER) AND THAT ALL APPLICABLE MITIGATION MEASURES WILL BE INCORPORATED INTO THE PROJECT AS REQUIRED BY THE CALIFORNIA ENVIRONMENTAL QUALITY ACT I. The City Council of the City of Tustin does hereby resolve as follows: A. That the First Amendment to the Tustin Legacy Disposition and Development Agreement (DDA 06-01 (Master Developer is proposed by and between the City of Tustin, the Tustin Public Financing Authority and Tustin Legacy Community Partners, LLC. (the developer), a Delaware limited liability company. B. That the First Amendment to the Tustin Legacy Disposition and Development Agreement (DDA 06-01 (Master Developer is considered a "Project" pursuant to the terms of the California Environmental Quality Act; C. That on January 16, 2001, the City of Tustin certified the Program Final Environmental Impact Statement/Environmental Impact Report (FEIS/EIR) for the reuse and disposal of MCAS Tustin. On April 3, 2006, the City Council adopted Resolution No. 06-43 approving an Addendum to the Final Environmental Impact Statement/Environmental Impact Report for the Disposal and Reuse of MCAS Tustin. The FEIS/EIR and its Addendum is a program EIR under the California Environmental Quality Act ("CEQA"). The FEIS/FEIR and its Addendum considered the potential environmental impacts associated with development on the former Marine Corps Air Station, Tustin; D. The City prepared a comprehensive Environmental Checklist for the First Amendment to the Disposition and Development Agreement (DDA 06-01) (Master Developer) along with proposed amendments to the Specific Plan and a Development Agreement which is also being processed by the developer, attached as Exhibit A hereto. The Environmental Checklist concluded that the proposed project does not result in any new significant Resolution No. 07-29 Page 1 of 45 environmental impacts, substantial changes or a substantial increase in the severity of any previously identified significant impacts in the FEIS/EIR and Addendum. Moreover, no new information of substantial importance has surfaced since certification of the FEIS/EIR and Addendum. II. The City Council finds that the project is within the scope of the previously approved Program FEIS/FEIR and its Addendum and that pursuant to Title 14 California Code of Regulations Sections 15168 (c) and 15162, no new effects could occur and no new mitigation measures would be required. Accordingly, no new environmental document is required by CEQA. PASSED AND ADOPTED at a regular meeting of the Tustin City Council held on the 20th day of March, 2007. I/I<Z LOU BONE, Mayor STATE OF CALIFORNIA ) COUNTY OF ORANGE ) SS CITY OF TUSTIN ) I, Pamela Stoker, City Clerk and ex-officio Clerk of the City Council of the City of Tustin, California, do hereby certify that the whole number of the members of the City Council of the City of Tustin is five; that the above and foregoing Resolution No. 07-29 was duly passed and adopted at a regular meeting of the Tustin City Council, held on the 20th day of March, 2007, by the following vote: COUNCILMEMBER AYES: COUNCILMEMBER NOES: COUNCILMEMBER ABSTAINED: COUNCILMEMBER ABSENT: Bone. Amante. Davert. Kawashima. Palmer None None None (5) (0) (0) (0) PAMELA STOKER City Clerk Resolution No. 07-29 Page 2 of 45 .FIRSTAM~ENDMENlt TO T1JSTIN.LEG:ACY DI~P()SITliON. ANO'DE\tE'LOPM.ENT A.G:'Rli:E.i\1.ENT (M}\ST:ERD.EVJ3}:L().~~R) Tb.iSFIRST AMENDMENT TOTUSTlNLEf3AC'Y.DISPOSITIONAND DE'VE;LOPMBN'T..AGR'EEM.ENT {MASTER DIJVELOP'ER). ("Ame"ll dlnellt") is entered. 111toas of March. ______,.20CrZ (the<"Effeetive:nate")b)'tll1dbet,\'een th.eCITY OF 'TUSTIN (asln.ore fully d.efillea.m~~ction 1~4.1.oftl1eOrigmal.DDA(asdefmed below), "City") .an.a .rrusti..tlLegaey.Community ,Part.n.eis,L,LC, a .Delaware..lilllited liability co:mpa,n.y (asdefilletlin SectIon 1.4.~of the Origil1alD::DA, tfie".De,-'eloper"). Th.eCity and the Developer a.resollletime.$ referred to herein iIldiviclufl11yas a ".Party"al1.d collectively a:stl1e H.Plll"ties/' RE:C1IT,AI;;.$ A.. City and the Developer entered into that certain Tustin 'Legacy Dis.position and Development Agreen'lent...(Master ])eveloper) .d.atedas. of Majl. .3,2006 (the ~'Original DDA"}p'ursu.ant to 'wIllen, among otherthil1gs, theCity.agreedto sellal1dlor lease or sublease,al1.c1 tb,eDevelbperagreedtopurchasean.d/or lease or sublense, the Property (as de:flned 1l.1 the QrigiIlad.D.DA) and the Partl.esagreedtQ a. scope of devel()l~ll1.ellt o:fthe Property- Initially c~pitali.zedternlSl1ot defined b.erein snall'havetlle tespe.ctive 111eanil1gsassignedto :su.ch temlS iti the OriginalD.DA. B. The:Origi.nal. 'DDAwas .lllelnorialized in tllateeftainMelllOrallcllul1..of Tustin Legacy Dispositi.on, an.d"Develo.pm.entAgreenlellt, wh.ichwas record.ed May8,z006 as In.strw:nel1tNo.20Q6003"08658. of tIle Official Rec.ordsof Orange .Cou.nty{~"'Offlci.al 'Recotds"). C. City and the :n'evelQper each d.e s ire . to . amend the Original DDA and ad.opt tllis AUlendment assetforthbelow~TheOrigirl(tl DDAas al11el1cledby this Anlendl11ent is referred toh.ereinas tIle "Agreemellt~'. A.GREEM'EN'l' N'O'W, ~rHEREFO'RE, in COllsideration.of tn:e foregoiTlgR.ecitals, wIlie'hare herel,y..i:tloolIlorated.l11 tb.e()p:erativepl"o~visiollS of this' All1eJld.ITlellt.'by. this referen.ce and other. goodandvalua'ble consideratiQll tlle rec'eiptan.d. suftlciencyof \vhicb.i.shereb'y acktlowledged, the.Patties. further agree as follows: 1. .M.Qd.i.fieati,onO.f .Severa.l..Seetions..of tb.e.O:r.i2i:llal. DDA, ..as it. relates. to E'se.rowClosin:1 and Defaultnrovlsions. .T11e followl1J.gseetions ottheOriginal.I>D.A are hereby alllel'ldedas follows: (a) follows: Section 1. 13. 1 (b) ofth.e Original DDA isherebyal11el1dedand restated. as I 840J:65()()18(i.S :1 Resolution No. 07-29 Page 3 of 45 "(0:) IllCreasetf IJeposit If, for an.y:reaSOR . other than. a.'Material'Default ofTustil1~. the De'vel(lper {i}ooe:s l1Qtacql.lire tb.e 'Pllase lCOl1V€)'ZlllCe IJropenty on. thePllase..l .Closil1g. Date,. as..sncn. . Closing Date 111aybe .exte.llaed. inaccordanc.e \VitJ1Seetio:(13.2..1.. andSect.loll.'3.4.6, fhe.}.lerf(')fll1UnCe Deposit ..shall.be increased by $1 ,000 per da:y for tlleperiodco.trlll1etlC:lIl:!& 011 the.Pllase lCldS'i.llgDate, as such date Dlaybemooifiedand.eIldi:ng on tlledatevvl1€11. tb.e :Develo.per acquires tn.e.Ph.ase lCollveyanceProperty'.Th.e anlO~ul1t()fan)r illcrease ill tlle Perfo.mlatlceDel):osit 'pursuant 10. tbeprecedi.ng sentence s.hall not be applioable to tJle'plltcllilseprioe fot anyPllase." (b;) follows: Section.3.2.1.Qfth.eOriginal'D.'DA.i$ h.ereby.un1en.ded and restated as 3.2.1 Phase IC;}osingDate.. TIle "Phasel CIOSl11g .Date"; :shalI 111ea11 April 23, 2 ()Cf7 . except tllat such date 111aybe. extelld.ed l.tpon l11utualwritten, agree.m.ellt o:ftl1eparties." (q~ Section 3..2. oftb:eOrigillal D.DAis here'byaIllen.dedto add the fol1.o.\vin.g asa .new Seetion3~2.o: "3 .:2.6N'otwitnstandingallything to the contrarycolltainedin this Section: 3.2, in tbe event tb,at thePhaselClosillgDa:tedoes not tl.tl1ely OCCllr due to a failureol''l the.part ofthe.:Develo'per to satisfyeacl1. o.ftbeconditioll:S set fortll i.ll Secti.on. 3.2.5,ex:cept to tIle extent th.at the City llas, 111 its sole tilldabso}ute discret.ion,. \vaived. any of such con.ditiolls,andprovidedsl1cllfailure is n.otas a re.sult of a Material Default on. the part of the Devel()per~.thenfup()n \vritte,n notice to th.eCity ftle Developer .shall be elltitled to obtail1.up to two (2)sllccessive extel1sionsof th.ePh.ase 1 Closing Date,eacll such. extenSi0,11 to bell pe.riddn.ot to exceed..sL-x.. (6) .nl.onths; provided, however, that ..eac.bQftlle .fo 11oWll1gCOl1ditiollS precedel1t sllallb,avebeen, sati.sfied~ in thejudgrl1elltofth:e City,with respect to coach. su.c:h.. extel1SiOll: (a) Sucllfailure tosatisfysuchcOl1ditions iSJlotdue to the failureo:f the Developer to dili.gently and illgoodfaitbJl1alce reasonable an.d substantial progress totlnlelyootamthe satisfa.ction ofeacll ofstle11 conditiollS; alld. (b) TbeqDeveloper is :t1ototherwise in Material D efati It. " (d) S ectiQll 3..3 of the Original DDA is hereby anlellded t.o . ad.tl the following as anew S'ection3.3.6: "3.3.~. Notwithstal1ding.anythi11gtO...tlle contrary contain.ed ill. this. Section 3:.3,Ul the event that tb.ePl1ase 2Closmg Date does not timely occur due to a failure on the part.ofthe,Developerfosatisfy .eacll.o.ftl1e .con..d.itioll$ set faith. in. Sectiolt3..3..5(e)) exe~pt to th~e extCl1.ttllat.tlieCityhas, ill its sole.andaosolute discretioll, 'waivedany ofsl1ch conditions, and provided su.cb failure is not as a resllll()faMaterial Default on tllepartof tIle Developer, tbell,upon \vritten notice to tIle City. tIle. Developer sb,all he entitled to obtain up to. two (2) successive' ResohJfi~:N~1~29 Page 4 of 45 2 extensions ()f~l.le :Phase 2 Closin.g Date, eacll suell .extertSioll. to be. alleriod 1101.. to eiKceed.si:x(6)mc)'nths;provid..ed, .however, thateacllof tbe .fbllowin.gcQ,uditiQl1s precetient:shaUha:veb~e.ll satisfied, in.tnejudg1l.1el1tofthe City, 'with. respect to eac:h ...su.cl1extenS1:on.: (a,) Such failure to satisfy such COlldition$isn.()t clu.e to tbefailure of tIle Developer.to..diliBt3l1tly'al1d in good..fai.tll'mak.e..rea$onablealld .substantial progress to timel~ obtail1 thes~tisfactionof eachofs'ucll oO.nd.itions;and (b) T.he'Develo'p'er is llot otherwise ill Material Default. Notwithst.anding :any such extension, for purposes of calculating pursuant toSe"Ctioll..3.3.~3. any..in.crease itl the Pl1ase.2. Purcl1:a.se Price.as a..result of such a.elay, tile Pl16se2 Closi.ng.Dateshallbedeeuled to be $eptenlber 15'12009~" €e) .Sectl.ol1.J.4 o..fth.eOri.gilltll.DDA isbereoy allle,nded to add the following as..anew.Sectioll 3.4.6: "3.4.6 Notwithstandil1ganything to the cOl1trarycontaitled in this Section 3.4, in tbeevellttl1at thePliase3C16singDafedoe$ t1QttimelYQccur due toa failu.reonthe pal1 of the Developer to satisfy each. offlle conditions set forth in Seetion3:4.5{e), except to the extent tllat the City lIas, in itssole'and absolute discretion, waived any of sl.lcbconditiol1S, and provided s1..l.ch. failure is not a$ a res'ult QfaMaterialDefa.ultQ:tl tIle p'art ofth.c'Oeveloper, then, Upou\\iritten.t1otic.e to theCit.ytheDevel~per Slla.ll be entitled to obtaiII up to two (2). succ~ssive e~1:ell$iQn$()f tb.ePl1~se3 Closmgpate,. eac.l1stlch. e~tensiOll tobea period 110t to exceed six to' 11loutns;p1"ovi.ded, however,.. tllat.each..()f.the. followi.ng. COllditions precedent shall l1ave01,eell. satisfied, ill tbe judgnlen.taf tl1eCity,~lith respect to eachsucb. exteI1S10l'1: (a) Sno.D fa.ilure. to satisfy suell COlluitions is nQtdue to the failure of tl:1(~ Develo'per to diligently and in good fa.itllnlake,reasonable and S"ubstalitial progres.s..to. funely..()btam tb.e...satisfactiol1ofeacb.sllCll con.ditions; and (0) TIle Developer is not otherwise in. Mate-rialDefault Nonvithstandi.n:g an.)! sucll.exten.sion, fo.rpurpos.es..of calc'ula.tingpursltant to $'ection3 ..4.3an:y increase in the Phase 3 Purchase Prioeasa restdt of such delay, tIle :Pbase 3GloSlllg Date shall bedeenled otobe July .1, 2'011." 2. M'odification.ofAttacllment 1 O..entitledD~se...illti()n of Developer's Buc'kbone...lnfta.structure. Work. and.. Atta.c'hment 11. en.titledDesc:rlutionofLocal Infra.struCetd:re. Atta.cn.ment$ lOan'd 11 to th.e Origin.al DDAareherebyamel1lied as full()~~s: (a) ltenl No.8()onpa.ge 2ClfAttachlllent 10 to the OriginalDDA is llerebY1110dified tcr delete la11.guage Blld referel1ceto tlle' "Sports Fields at". t8403:6.560 t 86.S 3" Resolution No. 07-29 Page 5 of 45 (0) ItenlNo..126011page3 of Attacllnlent 10 to the Original DDA is berebymodifletl as follows: (1) tIle term "OtherPub.lic-Ownec.l. a.pen. Space Master Oe'leloper Are" isb~t;eby.d.eleted.an.d H Qtl1erl?t.lblic-Owo>edQpen Space-Tus.tin '.Legacy SportsParkU iSSllbstjtu:tedill itspla.ce,(ii) the itnp'rovernentsh.allbedeenledas. a.:Pbase2 -Itl1provell1ent instead..of'a Phase 1 improvement, and..(iii}.the..origitlal tefereneeto .a total cost. of$4,"322.,6fJj~.. with..:a, portion ofsuch..costs'.identitied...nl1d .distribtlted over threeyea.rs 1z>eglrmingin'2006. with. :eom'ple.tion. ...in2009, B.hall'hereafter ..de. deel11ed. to refer toa total cost of $4,322.,697, witlla:portion Qfsuch .costsidentiflea an.d distributed over tllreeyears b~gi1111:il1g in. '2009wit.l1colnpletioll ill 2011. (0) ItCIll'NQ J2.9onpage 3 o:fAttachll1eot 10 to the O.ri.gil1.~ll 'DDA is bereby 11'1odifi.en to delete .tll,e.referenee to "Bridge... Tusti1.l Ral1cll Over. Lineal ParklVeh.icularand~'. alldto 1110dify the reference to fhis in1provellle.nt to read "Pedestrian Brictge. ovet Tustill.RatlcllRoaaCQl111ecting Neighborl1ood. Park.allQ COlllllll111i.tyPark". De've1.oper. acknowlea.~es.. and . agrees. tha.t.City's.."villingness .t.o agree to..such ch(mg.e .is co.ntlllgent u}.1outhec{')nditions :id.entifiedin sUQsection (d) below'. (d) Item No. 14 on page.8 of Attachll1ent 11 is herebYlnodified to delete tl1.e refereIlce toth.ehnprove:utentden.l1ed as "Arc]lesU .Devel~per~lc:kIlo~lledges arId agrees th:atCity'swillingness: to. agree to such change sllaJlbe eOll:tingent upon Developer's .appl}1ng at .least the mil1.1111u:m. ..at110Ullt of.$9,j.15,OOO.. originally .progratn111ed. for tbeArches towards an upgra.de Qfthe design of the pedestrian bri.dge.sidentifie.d ill Attac,nmellJ tOto tl1eOrigitlal D.DAas Item Nos. '12:7,28, ancl12.9with arc!l features to beitlco.rporatedilltotl1C: bridge .design.aSa11 iconicfeatttre s'ubject todesi.g1i review approval atld COlllpliance with.a.1l Governmental Req'uirements of.the City. As a result of thiscontingency,.total c.ostsof all tlrteebtidges shallllotbe lesstnan $19,813~OOSa-nd .Developershallberesponsfble:. for any and all cost es.cala.tiol1S for said bridge illlprovenlents. (e) TIle tillling tor cellaill ,PllaSe2Tll.still Legacy'.Backbol1e ltlfrastnlctur~ and. Local JIl.frasttucture items idetltified ..onAttaclnnents 1 0 au"l 11 to. th.e O.riginalDDA shall be advanced to Phase 1. as shown .onSchedttlel to this Al11endlnent 3. Modification of Attacl1.ment 1.7. The Parties agree that Attaelullen.t 17 to the .Original:nD.A isherenyd.'eleteo..il1. its .entirety..an:d..an.ewAt:tachlnellt .1.7(rev. 1) , .itl the fcn:rnattacll:ed. 11ereto ..as. Scbed.ule.2. to. this Alllendll1el1t ..1.s..substituted in. its place. 4. Modi.fications to.Attacllnient28. 'TIle 'partiesagree tllatAt.taelllllerlt28 is l1~erebyanlen:ded.as follows: (a) Elh.ibit A of Attachl11.entA tp. the Or.iginalDDA elltitledtn.e ~.~:Refined Master Developnle:l1t Plan')..lS. ]jereby .:t:ltQd:ifi.ed a$ follows: (i) 'TIle open space idel1tifiedasaPllflse 1 Sports ParklDetentioll facility on the Refined M.aster'Develop:nlent,Plan and originally proposed at the.s.outb.east comer .ofRedl1ill.al1.d .Edin.ger ...isrelocated. soutl1east..'of.tbe .lineal. park: Resol utft1P13~P tfV.!i29 Page 6 of 45 4- opetJ...s.pace..and..Came~e..l~.:Pb.a.se..2...an,d. replaced...in .its fOfll.1er.Pbase 1 locatioll with. corpo.ratelbusn.lesSUSes.~ (Ii) TheCangre.gateCare facility<ldentified as: Senior Housing , . . OJl tIle Refined.Maste.rDevelopmellt.Flan and ori.gin~ally pJroposedat tllesoutlleast comer ofVaJenciaano. Tustin.RancnRoad inP'hase 1, snal1beorelocatedto .southwest of Legacy Road.atldtlle< NorthLoopRo~\clin :Pll.ase2and replaced in its f01l11erPhase 110catiQtl \vithresident.ialuses,subjecttQ any restrictions i~posedpurs\.tanttoSectioll 8.3.8 (e) of tb.e...Agreement. (b) LitlS2ofSection 1. .4(bj(i) of Attachnlel1t 28 to th.eOriginal 'D:O A is .hereby>amenuedand-restafed to feadas follows: ". .. as> acre.sportsfl.eld facility in. Neigl1borhoodE;a46-acre. ..H (c) Tllc'la.stsentenceofSection 1~4(b)(ii) o.fAttachmel1t 28 to the OtiginaJ..D.DA. is .h.ereby..de:1.eted:.. i.n .its entirety. (d) SectiQ'111.6(c)of A.ttach,ment28to tl1eOrigil1~n D.DA is llereby '-l111e:ndedand,restate(i'to read .initseptiretYRs follows: "(c)Pll"t-suanttQSectiol1.3.2.4 (e) of the Agreeul:ent)ithe City bfis approved a specificwrittel1 im.plelnentatioll strategy for th.e MasterBloek.eonsistentwith the .provisiollS..oftllis..Attaclnnent The total..de-veloplllent. program..f()f the COlll111Ul1i.ty Core will govern (as shown ill tlleapp:roved written 1111plementation strategya.s..though..set..forth in...i tsel1tiretyh.ereitl)....a.nd on. file.wi.t}.l tb.e RedevelQpment Ag.en.cy),.. except.. that. there. are a .fiutnber ofde$ign. issues .tbat will l1eedto be addressed with the luxury brO\vtlstones a.n,dluxuryflatsas id.entified in City correspo.tl.de,nce d.ated August 31, 2005. Anysl1.are 'parkillg retluction.s that \YQWd.bereviewed.. ~uldgrEUlted by the City pUtSua:tlt to. thepro'visiQns in the SpecificPlanrela.ted totheMasterB lock shall be based 011 the. parking d enl and. <J.11alysl.s .identified... .in.the "1'ustinLegacy.Co111tnumty...Core.. 'M.ixed..:'U'se Dev'elopmelltPllasesJandIISharedParkhlg Study, dated J(U1uary 2006, as amended. to reflect tlleadoptedwrittel1 itnplementation strategy." (e:> Sectlo'n 1;7 (d) of Attachnlent28. to tIle OriginalDDA is hereby amendedtcFaddane\v.sel1tence to the end of the section to readqas follows: "Devel.oper shall..alsocolnply with all cantin.gene)' con.ditions contained in Section 3 tbis.Atllendmentas it relates to the designxlpgrad.esofs'llCll bridges.'" (f) SectiQIll.9(a)ofAttachrtlent'28 to. the Qriginal ])DA is hereby alll1el1,aedtode:t.ete"Very" in th.eseoond to the last paragraph.. (g) E:xhibitDofAttaehmellt28 totb.e Origil1al DDA is hereby anlel1ded. tOl11odifytbe'acreageofth.eSports ,Field'froma.totalof 10.4 acres. to 9 acres and removal oftherefere.nce t.oa detention facility. 18403~656018(i. 5 5 Resolution No. 07-29 Page 7 of 45 (J1) Exhibit E of Attachmellt28 to .tbeOriginalDDA. is .hereby deleted i.n.ltsentiretyan.dane'w E;xltibitE{rev. 'lJ,in the formaltac'hedhtJ~retoasSclledule 31$ substitu.ted in its place. (1) E:xhibitForAttachment28t<J tIle Origillal:D.DA is llerebyd.eleted in.itsentiretyand...a. new .Exhibit.F(rev .1.) .., .m.the fonn a.tta.ched.lleretO(l$.. S.clIedule .4.18 Sltostituted in.i.ts ..place. 5. Miscellaneous. (a) Agreenlel.lt.R.atified. Except<as speciflcally.mnendedorlllodifieci l1erein,eaehand >every' term,: covenant and condition of the Ori~inaI DDAasanle,nded is .bereby ratified .and..s.b.allrell1.alll,..il1..ftll1..fo.rc.e and. effect. (b) Bi.lldillgAgreeln.~.rtt.. Tllis A111en.dnlellt shall bebin.d.iIlg UpOll a11d inuretoth.e .bene.fit. ofthe.parties.llereto, th,eir legal representatives, successorS an.d pennitted assigns. (c) Go've.rn.i.n,gL~~.. This .1nsttulttellts]tallbe 111.te:rpretedwld construed in aecordancewiththelaws of the . State ofCalifol11ia. (d) Exhibits. TIle Exhibits. attached to this Atnel1.dmentare hereby incorporated by this referellce into tll1.sAm.end:ment as tl1.ou.gl1 fully set forth in. this Sec.ti.on._ [signature. page...foTlows] ResoIJffefR:N8~1~29 Page 8 of 45 6 IN.'WITNESS..'WHEREOF,. .Cit.y and tlle . Developer.'llave .execlitted this ,An1.€Ila:ment.asofthe..d.ate.fi.rst set..:forth above. ~'Cl'TY' CITYO'F 1~QsrrIN', CALIF'ORNIA < Dated: By: Willia111I-luston, City Man.ager or CJlristineShin.g.letQn, .Assistant Ci ty 'Mal1:aget "A.UTH.ORITY" TlJs.~rlN"PUBLIC,FlNANC,ING AUTHORITY Dated: By: WillimnIltlsto:n, Executive Director or Christine.ShingletoIl). Ass.istant City<M.anager ATTEST: By: Pal.'nela$toker C.ityCleik D.ated: APPROVEP...AS...TO.F(.>f{M Speoi.al..Counsel.fQr.tlle..City 8T.EEFEL~LEVITT&'WEISS A. P.R.OFES'SIONAL..CrORP:ORATION J3y:: Cla.ytOl1..11. ...Gat:itz 1.8403:6560186.5 7 Resolution No. 07-29 Page 9 of 45 '~D:EVELOPER" TU;S'~rIN 'LEGACY COM'M"UNI1~Y .PA,RTN.E.RS, l~LC, a Delaware .linlited liabilityeom.pany B.y: Sllea.Propelties,.LLC, a Delawarelimited..li.abil.:ity cOlnpful)', Mal1aging.Mernber By: Name: Its: ,By: Name: Its: Resol ut~t\lMij9tJ'.529 Page 10 of 45 8 By: Centex.Hon1es~ a Nevada ..gel1eraJ.partnership.; aM~mber By: Celttex,Real Estate Corpo.ratiol1,. a 'Nevada corporatiol1, M'elnagingGeneralPartller By: N:anle: Its: By: $heaHcnnes Linlited Parnlership, a...Califoll1.ia lirnitedpartnership, a Member .By: N.at11e: Its: By': Nan1.e: Its: 18403:656018'605 ~ Resolution No. 07-29 Page 11 of 45 SCHEDUL:E 1 Changes..to Timi.D:g.O'( Tustin..Legaey..Backbone..lnfrastructl.1"re 8I1d..Locallbf..astructure .in Attachme'nts 10& 11 Resoluff8A3~ij1'~9 Page 12 of 45 10 Disposition and De\#'elopment Agreement (Master O'eveloper Infrastruoture Improvements Moved from Phase 2 to Pha$$ 1 Local Infrastructure ImDrovements (Attachment 11 in the DOAl Jt.m R.a.cb. Cost Storm Drain $59,:288 $54.169 694 '809: S'anitary5ewe,t 3:27' a2fl 82.2 '824 :lYl5 Potable Water Recfaim'ed Water 723 '722 .864 Dry l;Jtititif)s TotlJI.lIifrastnu1ute Costs Iftl)'telfj'rOIIl Pllase. 2 to PllilSU 1: $12.152.661 Resolution No. 07-29 Page 13 of 45 SC'HEDU'LE.2 Attacbment 17 (rev. 1) ResoldM9A:~.t~-29 Page 14 of 45 1.1. ATTACHM$NT NO. 11 SC'BE'DULEOF.PERFORM.ANC'E "NOrrE: Refere'llcesbe,,"ein to "the Agreement" and u'O,D.Au mean the Tustin Legacy :Dispos.itio'n and .Development A-greement (Maste.r .Developer) whic,b this Attachment IS a part; references to HAttachments" lllean tIle. Attac'bluents to the .DDA unless otherwise specified~ Except as ot.herwise lIoted, all capitalized terms defmed within the DDA and tfu~' Attacnnle:nts shall retain the m~a:nlngs as defi.Iled lfi the D:ispositio:n and Development A,gre'em.en.t Refere:ncelQ this Attaobme:nt IS fOllD.d In Section 8.2 lof the 'DD.Aj ad.ditional refere,ncesto specific sections of the 'O.'OA .UIa}' also be noted as they nlay apply to any actio 11 or timing item. References. to the defin:ed terms City and. Tustin, in the SCllcdule ofPerfortlltttlcC) are itlterchangeabJe wllere app.ropotiate. Action Timing and A.BY Contingent A.pprovals 1) EXEClJT10N O:F AGR:EEMENT a) Develo}.ler.deli'lcrs executed ~DDA and Attaeh.mellts .a:nd documents .reqliired. [1 8] No later tb.an. 5 .Bllsines8 :Days prior to City Council action on the A.greement 1)) DeveloRer tteliv~x-sbinder()r certificate evidencing ins:urancereq'uiremel1t [1.8 10] Cone urre.n.tl Y' tlpOn delivery o.fDevelc,per e:xecuted DDA and Attachments to City. c) Developer deliverselltity doell.meats [1 ~.8.2] Concurrently upon delivery o:f:D.evelope:r executed.DDA and Attachm.ents to the City. d)C-ityexecutes :ODA Witllil1 :3 'Business .Days tbllowillg City Council approval ofD:DA alld .Attaehm.ents. e) '~EffectiveDate" of'O'DA :Oate after exec'ution by City ofD.DAand Developer~s paytnel1t to City of all City Trallsaction :Expenses t) Developer delivers 'Performance D.eposit [1. 13] Within 5 .Bllsiness .Days .following City Council ap'p:roval of DDA. alld Attaohments. - 1 of 28 ... Resolution No. 07-29 Page 15 of 45 g) Delivery of.Bxecuted.Agre'ement [1 1.0] 'No later than S"Business Days after the execution, of O:DA by Tustin" Tustin arld .Devel<).per shall eac.h deli'ver an executed original COllll.terpart of DDA to Escrow Holder. 2) 'DE;VEI)JO:P:ER ACQlJISITION AN'n S:U'BI~.EASING OF 'D:EVELOPER FEE AND D.EV'E.I..,O,P:ER lJEAS.E P.ARCE.LS a~A8E,l = ,. . u" . , ." i i) ;Ph~ 1 .. ne:velo:per~s Coitcfitio)]S Preceti_t OJ to Clo.seofEsel"ow 13~1.3t .' . " . ... . -(1)~t:~W:~:;~;~~~Qeument I ::C~~~=::f mm. . (2) Title Cmnpanyissues to Dmrelol)er Title. II'Ralatenban ),,'lbJiness .. Pofioy [3.l.3(bD:' ~ )J]' .. . ... . II/E>. '.. a. y....r.p....ft.or to:Clase o:f>. ..... II Hserc>w · ........ ....HH ...... ........... . .... ..11 . ..... .................. . .. ... ... == (3) g::a~t~if1s1:~(:rl.~OPies d'aU lIg:::::~~~~~ ... ............... ..~.. ........ ... ... . ... ]~sc:row~ . ..</. .... ..: . .. .. ...... .... .........:'~....:... ... Ii) Phaset- Cfty1$.Condid0I1S P~~.edeJlt to' : ~ ..;.;;..;;.. e.' .'.105. .eof..'8..... ".e..:r..':o. .u: ,. ...::....1[...3....1.:/ ~.:. '4.' .'.'..1<.... ...... .. ... .ii:.. :'. 'u... . . u'.. u ..' ......$ .~..-~V:l.,.~. ,.}. ~... ..... . .11.. . .. - - (ll Devel~del1v~~$ to EsctQW':a:ll do'Cutn'etl.tNo later t1tatll Bus~s dm~es [:S.!,~)l ::~~~rtotbeClo~6f .C2ftity oormrms that\DeV~loper is ill ........ .~G.lat~i::tfla.fil .Business: ==:~~ l~c~j.l~Of ~..::............s.a...::l...~ ~:.. r....'t.. ....0... ,p"l' .:....:.:.J..:.'.,.....O.~.......i....~:....:..:1.n.~.: It,..0:......::...:.:.......:...s:.,.... G....:.....,:...:l:..::r:...........ss.~.......s..ee.:....::..........:..:.......:::: O..:...lf...a.............;v::.:.::.:.::....s~...:................/. ..... ,("3). O.........:.......:....e.....'V.:::::..~lap.er.u.:..:i]..tl:..e~l..~li:e...~r....s~:/ to City:mdeime of~ YY U:llllj :.0... ___ · lJQ.J" -=Cmg (3y1.~4(d)] ~~::o:.the ~'Of .' 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N ....................................................... ..................... >..............................,.......... .C~, l;.~1 ii .i i.... :..... .. . . .. ... . :.~I.~:.....il~..:~B~.llll~!t...;~j~_i~$j:ll.i....:~_1~~i~I..:...::.. <l...:.:.qi1_j4l11.....~I..: .::..~I.~..~Ii~~.:~~j:II~:.:I~.~.::~I~.i.IJj_les: :l'S;:.~~\I::;:e Resolution No. 07-29 Page 22 of 45 - 8 of 28 - ............... H ~t.~t6Jer~~. .'. .' ..... ....... .' '~..'~ .... ..... : ..><1 N6i: .D..em6.et.a~.~.~_m'./ M: le!<lDeE.~I., ~~~10 .IJ;i;~lrl. ~l~' ",,,,JIIJIi~.lmitmls are IIcCl~t:i:ng~l1.I..~.~~III~i~~ 11"~lr()~'.I.~:~jlliill>le ..............:IISeLl~Gt:.~g.D '1feilatifY'~. mtat1.i i)II;)~lls;Wn_jsu.;;'I' .. .~mll:<>'V~:nte-.~sa~e .tli>Deii 1(')lat.e.Clj....cQm~tet:iDt'l0f ................ ....~~~~IRg~....SEHiies......amd..:aBM............... ..ciS~fJies)aI;;am... ................... ~';ii)1 .~.ilit.~~~ .'lS ~tJll.~(;,l~~_:....I$~....lli~......~.il~.~. ...... ..it...._._.....~iI~l.l6aJ......2J.i~:.i.:...................................1 .fQ~jl~li~Jg....:$~\1.:~tal.....ltl. ..~i~l'. ~1:;eI..s..:li.iD.~i.. 17IsfJC)nslSi'l~t,~ ~illiu re~I(>_se.:~i.Drte. rlf=_~S .a~nn~I.....~M...:~lll~t:..1Sesrgfln$il;>"le ~ieij.,i:€e.~. .1 I. ~I:I :me'IID,_~...i'$lall.....:Cmml.lcle...:..~~'.. '.lil..........i..r&t!}......~:Il.m:Cl.at....ma~s. m~.(t)H;.J:,~-tQ..;!'i;i~:I'::l: f.i~.Simm'ttail,~tl;l:':l;, ".,. '. I.JjQIU~i.i...~as~mG~_~:....~IIfi$,..................... ..~ill~R~~......~.I.t~tl~stea...................... .... l~m_G~IG__~I~.._~: bil/j~I~UmeQ~$ :~:lit~~.i.Goli~u Ill!> ...... "me.Ii)"leialeneiesma~' ~B\l~ ~~tiQ~: . 2~1;1;;I;""" ;.I.....i:iel......a.lltC)~als...:.i(l;fJli:ffds.Glutte.......... ............. ';;,01;1;; ~.!eMtsm.I'i:...e:iN"a~ OIl'f.,.':0:11:" ,"" . f;;"'l;;'::::; _~I_.;IL!.m;Beas Im~;liJ~ ::1:: .... " :1111:1::: ;iill,_miiii'm~E:iN"lvyiiBtuBina.l ~~Js, ...' ....,. ililaslmllll 'Blell['~r.uit~IIW>:i.!...i...I.... ............ ......... .. ........ .......:i ..................................n ............. >Hi........2 ... "n/ ............. ......................... ........... ~~~I:mIJJ(1V1II:(:):fjBaellll:)(>ne Iinmas.eIIt!II'IBBs, ~it&il1. ~ m'(].BcmQar Darysi> i'III~!III.~~u~:~~(t<<Qci~~t1~.jld .... :~~wmg.s?Qtmll~~Qiam 1ISUI.l.~.::<I:Il1I~:ls~..:eQ.s.QtlQI1...peml~~s .:~~~.Ut117eS'011sl'Dle...a.Sen0.~ .1...... ~- :-~-- .~~~I~ISL_ --. :'~r;~ ::De1~el~g~r~IM~l~JSes.R.eg~es~:.fQr.R'lus . 'niliunQrmal.umji.!rtimes. :!(~l..I.!-,Jll:i~......I).il1....................................................... ............................... .tI1~l~i~~~~~ts.....~i~.:mll1i~~d .f4.... <l.,' :.t. '~,....."m." B. ._.: leanlo;lels', .' .,iiI.'h"'''''".,....".,,-... :r::.::"':'4"'-...,..J< ~ >< .......... ...... ~"Illiill1ll~ii~'ICim~e?awarISm€j.Bi't II.. .........i maeIBDD"..:~s.G~1mlt'QMemeJltSj;. fEO,tllJIlO'lrze.tD..lR[0Ceeai ............... ,> ... .. .;S.~ellmilii....~s.;.mm.....I_pn().~emeftm~ ~~~!,......r2.l....Q~....~......e.....~ill.'!s...................... :Q(>;Bliti<ln.Brtlettett.tite .............................................. ....:lUli'-$I.i>6..W011 Ptta$e.~.'..' ';,~'JL::TSl7\"A:'jS' . I:'~:;"." t.~:C:;;i. ?tl'OI"~ .I(l:r":~::~'~l..:el'()n. ~.D,,'"a.,......... ........ .l.tj:l.ess.lllle;l~ise:'W'"ai.,.el....as................... Ic).:..::i:~~ili~:~~J.;...imLit()jemeJf1ts............... ,1~ri.}\::Secfibn8~~iS........... ....... .......... ....... I · II... I I I ..... ..... . JC:il~~tial~!il.;~~IIII~:rF;astlu:~t.u:le 'PlitBS.:.Bt1 I:QQi.t~pl@f:j~. ... c.. .. . . . . . . .. - 9 'of 28 - Resolution No. 07-29 Page 23 of 45 ................11 mi~i:al.....slID.mit.t.als ..n(Z).......later It~lian: ............... M: .ugista~,2Qm'l>< ~m': 1I~_ii11nj~~allJ~ // lSI'D: .(}e~<>heltBl...... 2f1t'l'1> .ii " .... ., .... '",>> \/...> ........... ........... ....:.i.< . . ...>><<< ...J......:.:...i........I..I....I..I.I..IIBi~11 meIBI<':)~~ Stllmits.....C()mllltl....;10~alljijlljlll:i:II.J..:!li11M: M(J~enI6erijm, ~mllj] </ ...................... IIltiaslmGBtJ1~ ~1I.ansll dd.ltlGum_ts~ 11m: ieIFtlU~~~; rz<JjQ'Jl< .......i ..........:1// ........ .... ND: ~eeCiUli~3}.i; 200'7 : ...:iiii.i ... / . ::.:.:.:......:.....:... //// / .:..:.;;:~~II. /:: ../....< ........................;r.. .........;d> ~C)-mnIBle submilfils Ir~ ..... .....................>d< It' .......... ;c..(j:ft.aeln:l~ltn()1tltJitv><> >.... >< ;.;...;.. ...~..""m~.... .t>..~.q"'"l.,..t.t!'T.77?.~...fl>i< .~ElP~~~~l.....".I...~PF'llc:.ID.le... ....................... ....................... $ei.ter<tIB': .~elltali:~e.lJl.aet << Iilii~~I.;$~~::.../ ....... :L.'fm.d' ... .:nli,~em.':I. . :nls.~':HI. .....r.6. ...i'fQ''Oe..d... .TIt'\~ d." '.'d. d......: .r>. .;t.. .. r d: .l_~I*-e8,.Q~mp;l~ui~i.(f};t0 .........< >> ....>>< 1~.~.IIlI"lS~Bli:ls..~t1...811~: ....... ................ <<<u.<I'.r8;...S.tl.l.lies.:as.:are< <.............. >< .......... ........ Cl.lle.lild fe:bl. nle~SSat~ >..>>"i.. .i; 'o'v.' ....IIl~Oit.". . ......... '.> ... ////..i; .:.;;/i!:il';~'~~t~::: . ..../ ii/ jljliiil:!i'i!i"'!i:iIlBSiier anaei~meJJ:::Fej~~jll,"e_Besl.ch.ieSinRir~.ll()wiI1S sul)niillafl to Cit~i< aua'.Bi~~en~al?:lm~alsiflm.:lte WaXrY'..aler........................... resDlll.$iiillfJ~...Hd witnin .......... efjnslltMiDn..:0fI.~_~~ RarG~ls..0-fi ()tl1ur .re"iew.Me..fiamesC1eihed ....... /< ~:__~.!8jl:i1.ilQr l?msm,Ba~J~:II~i::f:Jliertes~l1Sib~'< .. ..." .... .. ......>msr.imllmllcQnm0m~ ~m.ft;I{[fj~)j~Bl1il~i. asellcies. ........ ....................<< .< ..', ...... ...... ..w ... .::lli~L .':I", .~.,"~.~~~iiIiIl.p~ ~itlDn::j~...en~;ma:. if: .~;.~~~it;iQ~....()t.....~_t.W~~Id.<);~$.....~~.......~:..IuQ:~Q ~t.lllQ"ing.....$~l1m.tt~~l~...~~.........~.................. ................... {:(L"I,~..~I~;~::':~~S~:..... 011G~ti~n..~u~ts.' ;.I;~oo;iQfiD..~~.I~"'*r ~Il~;.pil~~~all; :~tl~jQi~i.~n~.I~.~II.~: : rii~j'-pa:tQs_(l.siDl~agen<?y e'n:lc~iQ.>€it!~ ...........>> ........... .tIM;Ci'rI~a;I.~f);)lt~'~ amllr()~ll..:o.1f'...g~al....:BackDQne tt~.!"1ilj .. I .:: .':1~1: .;.. .1: ..... ..1.1'; ..... .; ............ .....~~~.i ........... .... ... \ (tit;)ei~er;&i6Iiits~~ijl.}1(}~::. m.as:.Gmte..e~.s:an.i.ttl0GUmertts. . . . ..... ...... . .... ..... . . . . ~1~~~'~~~~'isl~.~J..ii . .i.......tj8sl.ef.J.lre <i< ii< ......... Resolution No. 07-29 Page 24 of 45 - 10 of 28 - - 1.1 of 28 - Resolution No. 07-29 Page 25 of 45 . ...... ... .... .....> ..................... . :. I> . . . ..... . . . ..... i!i!i;~~~. ii ..... Jf~~wit:ll~!rQJZ;e~~l.ng Jii!;i:;i! ..i ..illIi.iO~.t~j!qCl.Qtltt~~ tditei...~ja~l(t~I..~::lvJ 'GC>lTEec~i011sana..eencJiti()ns H) .t}.~~..~illo\ial.....o.I.~lle...jfet1tatl;v-e .D ffra~;.J':III:!liils; .;. >i; _II'; ..... i€ii!.<ilei1iii.1I1(t~~..oa.ttS~s;meBe~tdiug. Qi1iil!i.tthm'1.~'~C1m~jma~'ij..'" ............. ......... i.. ~€)Bs_tcD()h~ fCl:~lomill.!::i.s8ll,.~n.GB..();!B.> >>) 1l.ui]l.aijt1fI.:."e..i~s:....rQJ1'........ ................ ,~~~~~'t1lel11~s:....tn.. ..~~~~:i~aQ.I~. ~.e.j.\ilijei!!lllil:iiii.> l~e101>mr:n~sims'i: '.i ) .. ..:. .f~~........;~f:).pl&qll!.....6.1:.~~ijs.eti<:JU.....(t1D....:~lli.eal ....... .ti.~:i'..1 A<2:.;~ : HT:" .Dut .~~.r.:~mm:~<>Memitt,sJ W:lrtili1!..:....alimie~U~'..::.s:llal~.: Itl~D.~~ll.:...(Zt:).l1SfVL10Iiort....().f Immro;\(-mentis",,,,,:ittiin ~~ m.ont.IiI~I)D:~~lal.g pem1l.it)H ) i$'$lJ;ltl.1e~.H . : ........... .\i~i... ....j~~!~..~lmlletlUD.~.U..::ii..$~J;l~~IW~i~il&1seB Il.I~4~!~:~iJ.~.I.... 1).$la;l~l1e~:~Jll.;plel(jI:..ft&!litet: . . . . .., . . '.' m.:au:l!i.!~~!~B:l~: . . . . ........... il: ...................~'I[::.IIJIl$~:.....I......~.....2Ift:Q.tl.P:I;I~.:!j!iljii:i.IJji.!:::B':J7Qi:i$:el.[j[.[.:.[.:.:.:.:.:.:.:.' Im~_~b_bll~OI..rl_.n.. 170 ~ .,............ilr..l..tlIIJI.I~.)I1~aiilii .\;u\ Jt_imil@jijf&;.I<>:t&d~le '.. . ...:'tl)~:Silll....:~.ill_~n; ~11.eii~~.'...:~li..:I~~ei.~ '~IJ~_S...i.iJI.its...'.SJ.)...I...::I~Blt.....'.'...... .tllan: .un~i~.~i:t~.:.1'~0~:al'.Q!I:~lle. "'<~lfQl'.3~1.1~'!.i.mfj',si.~!... : ,It)li"-~.~II: Se~:e~tl\t>~..u;ari1tl ati1.et1I[t1~i'f~~ Resolution No. 07-29 Page 26 of 45 - 12 of 2.8 .. - . (2) City considers alld either rejects, requests changes to, or approves f\ftordable l~Iousin.g Purchaser Selection and (~ri teria Plan. (a) .Builder(s) shall COlllplete any 111oditications or corrections to the J\ffordable 'f-lousing .Purchaser Selection and Criteria f>lan as C:ity rnay "[{eq lles t. (Il) City considers approval oftbe f\ffordable Elol.lsing Purcllaser Selection and (~riteria Plan lor V cliicaI Builder(s) project. ~""n_"~"~ ~~-........~____..............v~n........nn.nYnnnnn-.'nnnvn"""..u'.....""""",,,.........n....nn................nn..""......n........................nnn.........n.n.n.n...........n..nn..n..nn...................~.. ~~~~.._.............._............._........._-_.................. .. ...~.... xvi) RentalProjectsl J [-'_.... .. ..{ lr~:~Hi:~%~~~t~ -~~~~;:~~~~~~-t:<~~~t~~~:~~:-~ (2)'Ncighborhood 'D l\partlncnts - Developer shall cOlJlplete construction of apartnlents. 'vVithi11 15 Calendar I)ays following subnlittal to (~ity. With.in 15 Calendar [)ays follo\ving submittal to C~ity, vVithin 15 (~~alendar [lays follo\vi ng subnlittal to Ci ty. No later thun Deceltlber 31 ~ 2010 No later than Decelllber 31, 2011 - 13 () f 28 - Resolution No. 07-29 Page 27 of 45 Resolution No. 07-29 Page 28 of 45 - 14 of 28 - - 15 of 28 - Resolution No. 07-29 Page 29 of 45 Resolution No. 07-29 Page 30 of 45 -16of 28- - 17 0 f 28 - Resolution No. 07-29 Page 31 of 45 Resolution No. 07-29 Page 32 of 45 - 18 of 28 - -190f28- Resolution No. 07-29 Page 33 of 45 Resolution No. 07-29 Page 34 of 45 - 20 of 28 - (3) Dc'velopet Sllbluits to. City any ..SubordinatiotlGOnsent requested on City ..' , :tQtlll. [3.4.4(b)]'. .' '. . .'. ,..:.,....,.. .... '. . .'. ,'.... ....... ,:'.' ":.. . > .... i' ., .......... iii) 'J>llase3,-(Jity'~~~nditiollS l~reccdent to Close,..ofItscrQ~ [3.4.5] : "':,,., . '.. .:' , .. ..' .... . ,. .. . ..... '. < '... ". ....,.. ',.'. :'. .:. :..:,..:....... '....... .:' . ..' (1) CitYC.()li'filTl1sDeveloperhas satisfied an Gelleral COl1d.itions, or City inwriti.ng waivessuchcOl1ditions [3.4.5(a) & 3.1.4] . ..... .... '.', ..... '. ".... . . --,- (2) De-vclopcrdelivers to Escro\v all doCnhlCll.t N'olater than 1 'Business ..... deliveries required [3.4.5(b) & 3.1.4] Day prior to Close of i" ....,..., ..' . Escrow. . ' . '.' :: . . . (5) 'cjty confirms St.ibstantiaJProgress towards No later than 10 Business Completion of Phase 1 and Phase 2. Days prior to Close of .' [:3.4.~(e)~11d[3.4<<5(t)]] . :E,scrow. '. :- .' ,. ..... .' . . .' . .' .... . . {3) Pevelop~r Delivers Ehase 3 Closing '. '.Ptt)'tl1e!lt[3.4* 5 (h)] . . ", '. '," ,. . . . '. .' .' .. .' . ' . . ,< . .. (4)OA...,.,.,<.t,......Y .....,Hc.O~.,...,...]!'l"'...s.~id..........,e..... 1".8,(jPP1#oval of Subordhlation '. :.:. :......,.- ...........~.." '. ..'...... : '.. [:3,,'4~5 (q)]<.d .... '. ..... . '. .:',. . ..... .'. . .,: '. . . '.,":. .. '. . . . .' '. [3.4.1] .. ..... .: . . ....... '. . . ...... . ..' . u~ . . . . . . . .. . ... '. .' . . '.' '.,.. . .:. . . . .' . . . . . .. . . . . . .'..... .' . .... '.' . ..' ...... . . :.: .'. . . : , . . '. .,.' '., '. ... . : . . ....... . . . . . '. . .... .' . .... . . .v) ~bll~e :l.-;:Yerttc~1 Builder(s) and Sector 'c' Map,~, ElltitlelllenJ~ & (::onstruction of, Improvements... . . ." . . .. :..:...... . . - 21 of 28 - N~() later thatl 30 Business .Da.ys J?rior to Close of 'Ese-row. . ". . . > :.:.: .N'() later than 5 'Business :Dajlsmrior to the Close of i Esc]:o\v. -,- ~-_.:'.. No.t later than 1 Business ..... Day prior to the:Phasc 3 ..:' .Clos~'of.Escrow. . '. . . .' )N:(llater than 5 Business l)a}'~prior to Close of Escrow > .'. '.' .. . . Jlllyl, 2.011.or earlier per . ])J)ASection 3.4.1 providedthat escro\v shall J10f closelllltilDevelo.per c6mpl~tio.t1of all required COllditlQ'Osprecedent to escrQwclosing in theDDA ~nd compliance with SectioI13.4.3 of tl1eDDA, except . that sucl1date.ma y ~lsq b~ .extended perPDA Sectiol13 ~4.1 ... .. .' . .. . ..... . 'd .... . '.. '. .'. . ... ...... . Resolution No. 07-29 Page 35 of 45 I ". ." (1) VerticaIBuilcte:r(s) subrnits cornplete Pt.clirninaryPlans Withir145 Calelldar Days following thccollveyance froll1 IJe'Vcloper to"Vettical Sui Ider€s). .J ,_..'~m,"_m'm;'u U '.__.uuu_.u<..__,~..., ._uu-;',u'uumuuw~,<.,uu'mw';~<u,u.wuuu.u..,..u__u_u.,.. . . ........ . ........ .. . '.. , . (2) VerticaL:Builder(s)sub.ul.itsco rnplete Tentative VestingTract Map and Design .~e\riew'.':~p.pliCtltioll,(trly.other' ell ti tlenlent app lioatio.ll req uested,asapp Ii cable,'\vith cotnpleterelated dra\vingsand docnnlcnts to City. City reviews.collcurre.litly reVIews I: in. its 'Ciovernnlclltal Capacity and Proprietary Gap~city. j .... . .....:........ .... :: .... . : . .... ..:..... . . .' (3) lJpotla::dct.~rmil1ationthattheDeveloper Withitt21 Calendar .Days .hru3sullt11itte(lacon't.plete~pplicati()n and tol10 \ving subtni ttal' to . City completion of any e~vironmental of modification 01' documentation~ and written approvals from correction requests the ..Na.vyaflerconsultati().n. OI1LIF OC Pa"J:Ge~s~. Cit;{in .'.its'. Governmental....C apaci ty takesactioflon a Tentati ve' Vesting Tract Map, Co n.c ellf.Plan: & <Desig.n l{eview.. ......... . . . .. '.' ......... .... :. . '" .:. .' .' . '..:. . .'. '. (4) Vertical Builder(s) submits Final Tract Within 90 Calendar Days of Mt acp. with ;~~ated drawings and documents ,City Council approvals. . .0. _I.tY~(..".'.,..,.""."., ................ . '. ...... ...... .... .... ........ . .. ... .__ -........ . .~:.., ....m..., .......... _ M' ._ _ _.. .__.............. . _ _ ..__ . (5fCity considers appro var'o f Final Tract. . Vertical Builder(s) shaH be Map(s) ! responsible tor completing . all City, Count~. and other '. ...... . ..... .... .... ...... .... .. . . . related ageflcY(les) corrections and conditions of ilPproval of the Tentative . Tract Map to the . . . satisfactio.n of the City in its I .. ..' '. .., '.. ....... '" solcoeliscretiQn:." ". '.' . . .... .' .... . . . .......... .... . ~:......... . .....-,--- '.' ..... ................... ..... ". . .... '. . .. ......... ......... ..... ... . . . ..... (6) Veliical Builder(s) causes the Recording of.' 'Within 15 Cale;dar~ . the Final Tract Map(s) . following approval of the Final Tract Map(s) by City. : .: :' .' . .;'.' ..' .:'. ..... ;. .::. ..... . ..... ... . '. u." u u ........... ... · . .... . . ."" u . . · "' .U .' :'. . . . ." . . . ..... . . .' . '..: .' ...... '" .. '.' i . I .: . .... . ! Resolution No. 07-29 Page 36 of 45 . . Within 21Cale.ndar Days following subtnittal to. City I OflTIodification or correctio,n requests . '.. . . . . ....... - 22 of 28 - . (7) VerticaCB1Hlder subnlits COl11plete precIse · gradirig,and vertical and .horizontal improvement plans for plan check ...... including all necessary submittals and documentation required for plan check. '. . . ..... . .... .' .'. (8)Vert.ical :Builder(s) cotnmences construction. ..... Within 30 Calendar l)ays of df'fentative 'Tract Map > approval. ... ..... ........... . . rwiihin 30 Calendar days jfollo\ving issuance of . buildillg pernlits for Inlproven1ents on a:pplicable Vertical Builder '. deve]opulent. sites. . .'. .' ... .......... . ...... (9j'^'"Colllpletion ofconstrll'cti'~n -of the '"'~ Vertical Builder(s) shall . · '11 ,.1 . . ." ... .. I ..... . rn!)rOVCluents .. . comI) ete constructIon at . .... '. '. ..' ..' .... ...... . "llnproven1ents\vith24 . . . .... . ............ '.. . fil0 ntlls of buildhlg pernlit ... issuance. . ..' '. . ". '. .. . ..' .'. ...... . . . -' '. . .... . .. .... . vi) 'Pbnse 3 .. COlrip~~tioJ] oflVlininlUltl ,Phase .. Phase 3 Minilnunl Phase ....c .......~ '.. ..' .'. ". . 1.14.4.1(3)"1 H........... . ... sllall.be cOlnpleted no later . '..H'" than July I, 2019. ...> . .... . . '. ..... .... .. Gd~~SB~;;;,,<' ., ..... .... 'ii '.:.el~.~~.~:' ~::'.jM:~I~le~'8 "6.~lItlitio.D.S 'BreQ_:U~DI :::... .::'! ~tl. .~IIl~:~' '~llll~~:r:~~~lr:: [$~~~~:J ., '" .' . .... .' ... . . . . . .' . . . . . ..' '. '. . '. . . .'. . . . .... . ." . . ..... . . . . .. . ".:",~ .....:..:. . :: ~~. ~'. " .' ;...... ... '. ..... .:" ::,1:-::, ; '. ",: . " . ::: . ,: ~. :'.r:.,~~ii'~~tle ':'~'._.eItI":::I.I~eeli me :~'.~li~...".~I~rmnellt, ~tate .......lll..:.ml;:m]'i~fQ.lie :" '.?' '. :"':~~~~.at.~ai.:"!ii~'i:me ~i'tM.....~~ '.J~~~l~I~~!::.j~tl~:!.i!$~~~.t~fti~ ~i ~.I~a) :.:~~.lIull.ejmetil~ ,.'. . . II ,1111~110111).lII:;iB81te41 f~ 1~tl.St1 i~ Il~)t:a : 111.~_i~;8:::.:i1IRI::[~I~:':.:RillmiE::.~~i:lmrli:1 '~aD ,;;=;7~'j.:meieI0Ier~d irs ml~d.... ..... .. ;:.af\~~..PIr~;;=::=~ ...:I~.;';;=:~j '.' "; :';":' , " '^.,illtll::!.mlt~~i.illI(JIJi:ltllml(ln~:, ' ' :" :', " ....II~m~~.::.::::t::::ii!;:::i::::;,:.:.:.:.: ';:;:.:':" .. . . :ft';::'!!,I:::i::;::' , , ,,:,,:':':''',':':,:, x ' " ,. .,... ., .. ,. .". .,. . ...... d..." .. ::~:::..:/;.s:.: ::::r.:: }i...:. ::'.~':f.;;::':':'...';-:~:.:)<J~; :,": ~f:. . ." ... ... ,,,...., ".: ::>.>: "':.~.::. ~ \~.::;:;.:.~:::.: {~;i,::~;: ;::::::;;~'T!~:.:::.:::.:;:(:: .;::;.;:.~.'.:;:. "':"'::::~::::/!:'; .~~: . ~ .::: ~':. ..' .' ,. .. . ..'~ ,.... . .. . :;:.:. .:: ::'/'\:i),,' {.:.. ".' :.: '. . .).~ :'::::(,j ::::\ :"'l..:: .:.:(' .. . . . :~:la~~;I.~SS: '.:;:::::I~~mi~\I'~.?';::;:~:::;:::::'~::"k":;,::' .'::':" . . .'. . .,. . .' .~ .... - 23 of 28 - Resolution No. 07-29 Page 37 of 45 Resolution No. 07-29 Page 38 of 45 - 24 of 28 - i) City notices Developer of acquisition IJeases parcels subject to lJII~~()(~ [3.9.11 ii) I)cvcloper's Conditions Precedent to each Subse(IUent Closing (3.9..2i (1) Developer confirnls that City has satisfied all G'eneral C:onditions, or L)eveloper in \vriting \vaives such concli tions. Ir=-'~""'''''~_,"'d~ "i"ii~)'''cit;;~;~'''C~-~~'~;'~i'i'ti-~~lls .Precedent to eaell Subset)uent Closillg (3.943) (1) Developer confirrns (~ity has satisfied all (reneral Conditions, or City in writing wai ves sllch conditions (2) Developer delivers to -Escro\v Closing C:osts iv) Subsequellt Closing - Closing Date [3..9..1) 4) PAI~rrICll)4L\"rION (f\l{rrIClJE 7] Developer to Blake [7.2.1] ,Paynlent to (~ity - 25 of 28 - No later than 30 C~alendar Days atter the (~ity has received a quitclainl deed frOtl1 the r~~ederal CJO'\lcrnrnent conveying to the ('ity the fee interest. ~No later than 5 Business Days prior to the <=lose of Escro\v. __._____m l__m______m ....... No later than 5 Business Days prior to the C:losc of 'Escro\v. --~._._.;;::;;=="""=",,.,,;;;:I No later than 1 Business Day prior to Close of Escro\v. C~ity to establish C:losing [)ate upon notl.tication to l)eveloper in accord \vith Section 3.9 0 f this i\greC111cnt. 60 days after the later, the Developer sells the last Parcel i nPhase 1 to a VcrticaI13uilder(s) or July 1, 2011 Resolution No. 07-29 Page 39 of 45 Ii) I)eveIoper to luake SecondPaYll'lcnt to City [7.2.2] iii) Developer to Blake Third 'Paynlent to City [7.2.3J iv) ,Developer to n1ake FOluth PaYll1ent to (~ity [7.2.4] 5) CERTIFICATE OF_ COMPLIANCr~ (ARTICLE 91 l_ i) Certificates of Conlpliance (1) Developer subnlits request for issuance 0 fa C:ertiflcate of COlnpliance by (~ity [9.3.1] (2) tThe (~ity approves or disapproves the request for issuance of a Certificate of C~()nlpliance Resolution No. 07-29 Page 40 of 45 - 26 of 28 - 60 days after thcFirst I)etenninationDate \vhich lS 24 1110nths after the First Deternlinati on Date 60 days aller the Second Deternlination Date which IS 48 1110nths after the First. Oeternlination I)ate 60 days after the date that tile Developer has rccci ved all revenues OI{ at the option of the (~ity, a date specified by the City \vhich date shall be no later than [)ccenlber 30, 2016. lJpon c01l1pletion of all Inlprovenlents required by the DDA [Section 9.3] and satisf~lction of all l~onditions Precedent set forth inODA for the applicableParcel(s) or Phase of'Developnlent; provided that no C~ertificate of C:oIl1pliance shall be issued for any portion of the I Project until COlnpletion of the Miniululll Project. J \Vithin 1 0 (~alcndar Days follo\ving SUbll1ission of request for Certi fie-ate 0 f C~ompliancc and satisf1tction of all conditions precedent set forth In DDA ii) Final Certificate of.Complian'ce as to entl.re Project 19..3.3] (1) De'le.lol'er..su17nnits.request .fOf issuance. of the Fl.nalCertificateof Complianc'e for entire.~Pr<>Ject U)l City (2) T.heCityapJlt"ovesor c:lisapPfo:ves the 'r.ecIUe$t.fo:r.Oi$sl.lmceoffheFinalCertifi:cate ofC.olt1puance .for entire prqject (3) Tl1eCit~shttI.Lca.use the 'Recording the Fi.nal C~rti.fi,cat.tl ofCom.plianceagaJnstall Parcels 6) APPRAlSAL.PROC.ESS 'WIT.H RESPECT TO SALES Ol~" PllClPERJI~Y [7.9] i) Stlb.miss.io.n of Notice of Sale by Develo;per [7.9U2] ii) The City. s.ball respo:nds to Developer'.s Notice of Sale [7.9.2J ...21 of! 2.8 >- Upon completio'n of all Improvements .required by (h,c DDA and. satisfactioll of all Conditions Precedent set -tbrth inDDA Within 30 Calendar Days f\tJI1Qwing.$ubmissio:n. of reque$t for. (;ertifi c ate 'of COtnpliance, for entire Project and satisfactioll of all conditio'.os precedent set tblth. in DDA Within 10 calendar days :folloWing issuance of 'Fi.nal Certificate QfiCornp11an.ce by' Ci.ty. Not less than :lO days pri.or tQ tb.e' contemplated close of escrow for the sale of any portion of the Property, the Developer shall deliver a Notice of Sale to City. Withi.n 30 da.ys the City shal1respondlo Developer indicating whether it agrees thatSales Price re}lresellts the Fair Market Vallle of tIle Property. Resolution No. 07-29 Page 41 of 45 1.101) A'ppraisal.Notice response O)t City [7.9.3J .... City :notitiesOl)eveloper o.fselection of (,lualifiedAppraiser [7.9.4] v) 'Deve}QpernQtifi.cs' City ofdisp'ute of First AppraJ.$al[1.9.4] vi) Final and Binding' Fair Market 'Value. of 'Pro:perty [7.9.4] Resolution No. 07-29 Page 42 .of 45 ... 28 of 28 ... If City- determines that the Fair 'Market Valt.teof th.e Pro.petty to be sold is greater than. tile Sales 'Price; theC.i.ty .may 'notify the .Developer, wherCtlpon Property will be ~ppraised in .accord with Section 7.9.4 Qualifled:Appraiser cOI1ducts~App:(aisaL If 'Developer does 11otobject to the Fair .MarketVah.le as determiu.ed ..by th.eFirst Appraisal tnc'n this value shall be th:e Fair Market Value. If Developer. disputes. First Appraisal~theDeveloper notifies the City in 10 BusinessDays 'I'ne City atld Deve:lo'pe1" select a second. 'Qualified Appraiser to cond'uo~. a second. Ap prai sat .Fair Ivfat.ket 'Value of the Property will be th.e a.verage of the two A:ppraisals SCH.E.D:U'.L:E3 Ex:bi'bitE(rev. 1) · to:Attu'?ument28 18403:6560186.5 1.2 Resolution No. 07-29 Page 43 of 45 SCHEDULE 4 E~bjbitF(rev. I} toJ\ttachment28 ResoluMm:~.Iff'f-29 Page 44 of 45 13 PhSS82.Closing. Reqyirernents Re$idetlti.~l Com.pletiol1s Estjm~ted.#.l.JnitsCompleted Substantial.Ptogress.o;oRequired Tc)'t~l. Required. Residential..Unils..Cbrnpleted 0/0 ..of. Tola.I..by..Phase Residential Starts Estiolated# Units Started $u bstantlalProgress%Required Total Reqqired ResidentialUnit$ Completed Non .Re$identiaJ..CQlf1pJetlons EsthllCited.SF Coropletions.(1) SUbstantial Progress 0/0 Required Required SFforSubstantialPtogress 0/0 of Totat. by Phase Master .SJock Non . ResirJentiaJ . Completions EsUrnatedSF Completions Suo$tantlal..Progress % Required Required :SPofQr$ubstantiaIProgres$ NonResidential Starts Estim<Jted $FStarts (t) Substantia.I..Ptbgress .~~. .Requlred Requited SF for Substantial Progress 010 of Total by Phase Master Block. Non. Residential Starts Estimated .SF Starts SubstantiaIProgr~s's OJi) R~qulred ReqUired SF forS.upstantial Progress Phase 1 RequlrementsforSubstantial Progress Related to Closing Requirements by Phase 866 750/0 650 580/0 1.518 750/0 1, 139 972,114 750/0 729,086 39% 433.1931 750/0 325.,043 1 ~258~133 75000/0 943,600 51% 668,331 750/0 501,248 Phase 3010s1ng Requirements Residential Completions Estimated #lJnitsCbmpleted Substantial. Progress: o/~Required Total Reqy ired Residentiall..J nitsCompJeted Residential Starts Estimated # Unl'tsCQmpleted SLJ bstantia]Progresso/()Requi~ed Tot~l Required~~sidentjaJ Units: Completed Non Residential.Completions Estimated. SFCompletic)ns (1J Substantial.. P rogress> > 9/0 · Required Required SF for. S.ubstantial..Progress %. of Total by Phase Master.Block.Non .ResidentlalCotnpletions Estim.atedSFCompletions subst~nt(al Progress % · Require(j Required SFfbf Substantial Progress NonResidential Starts Estimated SF >Starts (1) Substanlial..Progress 0/0 Required Required SF for Substantial Progress % of Total byPhas& MasterS/oak Non ResidentlaJStarts EsUnlated SF Starts Substantial. Progress % Required R.equired SF for Substantial Progress Phase 1 t.560 900/0 1,404 1,560 950A, 11482 1 t493; 133 75o/b 1,119,849 600/0 903J~31 750/0 677)498 1)l54 .813 75% 1 ,391,109 750/0 1.465,011 75% 948,758 (1) Includes Master Block Phase 2 429 750/0. 322 545 750/0 409 907.206 750/0 680,4Q4 230/0 NA 1~477,930 750/0 1.t08,448 380/0 NA Resolution No. 07-29 Page 45 of 45