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DEVELOPMENT AGREEMENT NO. 2019- NN <br />This Development Agreement (hereinafter "Agreement') is entered into as of this _ day of <br />2019 by and between the City of Santa Ana, California (hereinafter "City"), and MAIN <br />PLACE SHOPPINGTOWN, LLC, a DELAWARE limited liability company (hereinafter "Owner"): <br />RECITALS <br />A. City is authorized to enter into binding development agreements with persons having legal or <br />equitable interests in real property for the development of such property, pursuant to Section <br />65864, et sec. of the Govermnent Code. <br />B. This Agreement constitutes a current exercise of City's police powers to provide predictability to <br />Owner in the development approval process by vesting the permitted uses, density, intensity of <br />use, and timing and phasing of development consistent with the Development Plan in exchange <br />for Owner's cominihnent to provide significant public benefits to City as set forth in Section 4 <br />below. <br />C. Owner has requested City to enter into a development agreement and proceedings have been <br />taken in accordance with the rules and regulations of City. <br />D. The best interests of the citizens of the City of Santa Ana and the public health, safety and <br />welfare will be served by entering into this Agreement. <br />E. The City Council hereby finds and determines that this Agreement is of major significance <br />because it will provide significant economic benefit to the City through additional jobs created <br />by the construction and operation of the Project, increased transient -occupancy and sales tax <br />revenue to the City, and general economic benefit. <br />F. The provision by Owner of the public benefits allows the City to realize significant economic, <br />recreational, open space, educational, social and public facilities bonefits. The public benefits <br />will advance the interests and meet the needs of Santa Ana residents and visitors to a <br />significantly greater extent than would development of the Property without this Agreement. <br />G. The physical effects, if any, of the Project and this Agreement have been analyzed pursuant to <br />California Enviromncital Quality Act as amended to date and as documented in the Final <br />Environmental Impact Report entitled "Fashion Square Commercial Center Subsequent Final <br />Enviromnental Impact Report" (State Clearinghouse House No L" and City of Santa Ana DP <br />No. L-_J ("FEIR"), the 1996 Addendum to the FEIR (State Clearinghouse House No. -'1 and <br />City of Santa Ana DP No. 1996-25), and the 2019 Addendum to the FFIR (State Clearinghouse <br />House No. 1 and City of Santa Ana DP No. 201847) ("2019 Addendum"). <br />H. This Agreement and the Project are consistent with the Santa Ana General Plan and any specific <br />plan applicable thereto. <br />I. All actions taken and approvals given by City have been duly taken or approved in accordance <br />with all applicable legal requirements for notice, public hearings, findings, votes, and other <br />procedural matters. <br />75D-660 <br />