VDC AT THE MET, LLC, A CALIFORNIA LIMITED LIABILITY COMPANY

Home Browse Search

COOPERATIVE AGREEMENT FOR OFF-SITE WROVBMBNTS THIS Agreement is entered Into this day of-, 2405, by and between the SANDPOINT13 N13IGHBORHOOD ASSOCIATION, INC., a California, non-profit publio henefit and federal 501(e)(3) corporation ("Sandpointo"), the NEXUS DEVELOPMENT CORPORATION/CBNTRAL DWISTON, INC. A California corporation raid'f ie Grand Plan 2, LLC, a California Limited Liability Company (collectively referred to herein as "Nexus"), COASTAL RIM PROPERTIES, INC., a California corporation CVenovn Commons"), the COMMUNITY REDEWLOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body corpordte and politic (ihe "Agency"), and the CI'T'Y OF SANTA ANA, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California (tile "City"). K'ITN) SSBTH A. . Nexus has proposed constructing at Hutton Center a five level residential condominium project, Wo 23-residential level condominium high-rise and one 24-residential level condominium.(for a total not to exceed 835 condominium wilts), together with ancillary retail tiot to exceed 14,000 square feet (the "Nexus Project"). B. Geneva Commons has proposed constructing at the northeast comer ofMackthur Boulevard and Imperial Promenade an approximately 278-u nit condominium project consisting of an 18-residential level high rise project and an eight-story building, together with ancillary retail (tho "Geneva Commons Project"), C. Sandpointe Is a non-profit corporation that sorves as a conduit between the Sandpointo Neighborhood ("Nelgliborhood") and outside community and politioal Interests, Sandpointe Neighborhood is a residential neighborhood of singlo family and some nnulti-family homes in the southeast portion of Santa Ana. The SandpointeNoighborhood consists of approximatoly 800 residences. Sandpointe does not have the authority to bind any individual resident of the SandpoinieNeighbor}rood. D. The Agency is a community redevolopnmeit agency, as that term is defined in California Health & Safety Code § 33100. In 1982, the Ageney created the South Main Redevelopment Project Area ("Project Area"), and Nexus and Genova Commons aro located within the Project Area. I;. Sandpointe has identified certain physical Improvements needed In the area of the Neighborhood that am necessitated by or would in some way offset the unpaot of the two development projects. Nexus and Geneva, Connnons desire to contdbuto towards tho cost and/or construction of those improvements to the Sandpointe neighborhood in addition to and to EXHIBIT D Ordinance No. NS-2680 t Page 30 of 61