75D - PH- MAIN PLACE TRANSFORMATION

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ER No. 2018-72, AA Transformation Project May 13, 2019 Page 10 No. 2018-04, DA No. 2018-02, & TPM No. 2018-01, — MainPlace Table 6: Development Agreement Malor Deal Points =Mein . Dsscii #tan Term and Extensions The initial term of the DA is 10 years. The term may be automatically extended to 15 years if the developer completes construction or redevelopment of certain components within the first 7 to 8 years, Including the central open space, the Nordstrom box building, large -format educational/entertainment use, parking, and site improvements, and hotel rooms, Non -Residential Completing non-residential components of the project, including construction or Development redevelopment of central open space, the Nordstrom box building, large -format Incentives educational/entertainment use, parking, and site improvements, and/or hotel rooms, will result in automatic extensions to the DA from 10 to up to 20 years. Completion of non-residential development components will also allow issuance of building permits for additional residential units on the site, ensuring a balance of revenue -generating uses for the City. City Access to Open The DA ensures that the City will be provided usage of the Central Plaza, Entry Spaces Plaza, or other mutually -accepted space at least 12 days each calendar year for events that are reasonably compatible with the project programming. The owner will also be required to provide at least 10 free events each year for the general public. Public Art The DA requires that public art be created, installed, and maintained on the project with a value equivalent to one-half of one percent (0.5%) of the total construction cost of the project. The public art component must also include at least two publicly -accessible water features on the project site. Positive Local Impacts The DA requires that the owner shall submit a plan for ongoing engagement and support of local philanthropic activities in Santa Ana relating to education, culture, and the arts, as well as local live -work preference for the rental or sale of residential units on the project site, and a local sourcing plan to hire and procure locally. California Environmental Qualify Act The MainPlace Transformation Project required preparation of studies relating to traffic, noise, air quality, greenhouse gas emissions, geologic and seismic hazards, hydrology and hydraulics, and sewer capacity. In addition, a health risk assessment, water supply assessment, water quality management plan, and fiscal impact and economic benefit analysis were prepared, All studies evaluate the changes of the proposed revisions as compared to the existing entitlements and were reviewed for content and accuracy by the City. The technical studies evidenced that an EIR Addendum to the previously -certified 1983 EIR is the appropriate CEQA document to evaluate and disclose the project's impacts. An addendum to a previously certified EIR is prepared when a lead agency is asked to approve modifications to an existing project for which an EIR has already been certified. An addendum evaluates the requested modifications and determines whether subsequent EIR review is required. 75D-26