MAIN PLACE SHOPPINGTOWN, LLC (2)

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DEVELOPMENT AGREEMENT NO. 2019- NN This Development Agreement (hereinafter "Agreement") is entered into as of this _ day of , 2019 by and between the City of Santa Ana, California (hereinafter "City"), and MAIN PLACE SHOPPINGTOWN, LLC, a DELAWARE limited liability company (hereinafter "Owner"): RECITALS A. City is authorized to enter into binding development agreements with persons having legal or equitable interests in real property for the development of such property, pursuant to Section 65864, et 5N. of the Government Code. B. This Agreement constitutes a current exercise of City's police powers to provide predictability to Owner in the development approval process by vesting the permitted uses, density, intensity of use, and timing and phasing of development consistent with the Development Plan in exchange for Owner's commitment to provide significant public benefits to City as set forth in Section 4 below. C. Owner has requested City to enter into a development agreement and proceedings have been taken in accordance with the rules and regulations of City. D. The best interests of the citizens of the City of Santa Ana and the public health, safety and welfare will be served by entering into this Agreement. E. The City Council hereby finds and determines that this Agreement is of major significance because it will provide significant economic benefit to the City through additional jobs created by the construction and operation of the Project, increased transient -occupancy and sales tax revenue to the City, and general economic benefit. F. The provision by Owner of the public benefits allows the City to realize significant economic, recreational, open space, educational, social and public facilities benefits. The public benefits will advance the interests and meet the needs of Santa Ana residents and visitors to a significantly greater extent than would development of the Property without this Agreement. G. The physical effects, if any, of the Project and this Agreement have been analyzed pursuant to California Environmental Quality Act as amended to date and as documented in the Final Environmental Impact Report entitled "Fashion Square Commercial Center Subsequent Final Environmental Impact Report" (State Clearinghouse House No. 1983021103) ("BEIR"), the 1996 Addendum to the FEIR (Environmental Review No. 96-033 and City of Santa Ana DP No. 1996- 25), and the 2019 Addendum to the FEIR (Environmental Review No. 2018-72 and City of Santa Ana DP No. 2018-17) ("2019 Addendum"). H. This Agreement and the Project are consistent with the Santa Ana General Plan and any specific plan applicable thereto. All actions taken and approvals given by City have been duly taken or approved in accordance with all applicable legal requirements for notice, public hearings, findings, votes, and other procedural matters. 4- 55394.00053\31891805.16