Laserfiche WebLink
DEVELOPMENT IMPACT FEE DEFERRAL AGREEMENT <br />1. PARTIES AND EFFECTIVE DATE. <br />This Development Impact Fee Deferral Agreement ("Agreement") is entered into on this <br />day of , 20_, by and between the City of Santa Ana, a charter city and <br />municipal corporation of the State of California ("City"), and fINSERT ENTITY) ("Owner"). <br />City and Owner are sometimes individually referred to herein as "Party" and collectively as <br />"Parties." <br />2. RECITALS. <br />2.1 Owner is the owner of that certain real property in the City of Santa Ana, <br />California, which is more particularly described inithibit "A' attached hereto and incorporated <br />herein by this reference ("Property"). Ownerursued under the City's Adaptive Reuse <br />Ordinance to convert an outdated ® square foot, story office building to XR.market-rate <br />residential rental units on the Property. Owner has received City approval and is the process of <br />obtaining the building permits; <br />2.2 Prior to issuance of any building permits, the City currently requires the payment <br />of various development impact fees for all market -rate residential projects to help address the <br />impacts of new development; <br />2.3 On November, 2018, Owner submitted a written request outlining financial <br />challenges and hardships the project is facing due to the seismic retrofitting requirements for the <br />Property and is requesting for the City Council to allow for the deferral of certain development <br />impact fees for the Property; and, <br />2.4 City and Owner desire to execute this Agreement to defer certain development <br />impact fees applicable to the Property and either place a lien on the Property or provide an <br />irrevocable letter of credit from the Owner to secure payment of these fees, pursuant to the terns <br />and conditions set forth herein. <br />3. TERMS. <br />3.1 Deferral of Development Impact Fees. <br />3.1.1 Deferral of Development Impact Fee. City and Owner agree that the <br />development impact fees ( "Subject Fee(s)") and amount as shown in zhibit_"B', for Property <br />will be deferred until prior to the final inspection or issuance of a certificate of occupancy for <br />any new residential units on the Property, or one (1) year from the date of issuance of the <br />building permits for the Property, whichever comes first ("Deferral Period"). City and Owner <br />acknowledge and agree that the City Council may, in its sole and absolute discretion and during <br />a regular, regular adjourned, or special meeting of the City Council, extend the deadline for <br />payment of the Subject Fees to any period greater than twelve (12) months without obtaining the <br />approval of Owner or an amendment or modification of this Agreement. Any extension granted <br />by the City Council pursuant to this Section 3. 1.1 shall automatically be deemed to be part of the <br />Deferral Period for purposes of this Agreement. <br />2 <br />25E-6 -- ---- -- <br />