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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") on the one hand, <br />and MAIN PLACE SHOPPINGTOWN, LLC, a DELAWARE limited liability company, CMF MP <br />SOUTH LLC, a DELAWARE limited liability company, and US CENTENNIAL MALLS JV, LLC, a <br />DELAWARE limited liability company (hereinafter, collectively, "Owner"), on the other hand: <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 65864, <br />et seq. of the Government 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 use, <br />and timing and phasing of development consistent with the Development Plan in exchange for <br />Owner's commitment to provide significant public benefits to City as set forth in Section 4 below. <br />C. Owner has requested City to enter into a development agreement and proceedings have been taken <br />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 welfare <br />will be served by entering into this Agreement. <br />E. The City Council hereby finds and determines that this Agreement is of major significance because <br />it will provide significant economic benefit to the City through additional jobs created by the <br />construction and operation of the Project, increased transient -occupancy and sales tax revenue to <br />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 benefits. The public benefits will <br />advance the interests and meet the needs of Santa Ana residents and visitors to a significantly <br />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 Environmental Quality Act as amended to date and as documented in the Final <br />Environmental Impact Report entitled "Fashion Square Commercial Center Subsequent Final <br />Environmental Impact Report" (State Clearinghouse House No. and City of Santa Ana DP <br />No. _) ("FEIR"), the 1996 Addendum to the FEIR (State Clearinghouse House No. _ and <br />City of Santa Ana DP No. 1996-25), and the 2019 Addendum to the FEIR (State Clearinghouse <br />House No. and City of Santa Ana DP No. 2018-17) ("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 />All actions taken and approvals given by City have been duly taken or approved in accordance with <br />all applicable legal requirements for notice, public hearings, findings, votes, and other procedural <br />matters. <br />-1- <br />55394.00053\31891805.16 <br />