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1*:1:11-3Y1111V <br />LS 11.19.19 <br />ORDINANCE NO. NS-2979 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA APPROVING DEVELOPMENT <br />AGREEMENT NO. 2018-01 BETWEEN THE CITY OF <br />SANTA ANA AND AC 2525 MAIN, LLC FOR CERTAIN <br />REAL PROPERTY LOCATED AT 2525 NORTH MAIN <br />STREET WITHIN THE CITY OF SANTA ANA PURSUANT <br />TO CALIFORNIA GOVERNMENT CODE SECTION 65864, <br />ET SEQ. <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES ORDAIN AS FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />WHEREAS, the City of Santa Ana ("City") is authorized pursuant to Government <br />Code Sections 65864 through 65869.5 to enter into development agreements with <br />persons having legal or equitable interests in real property for the purpose of <br />establishing certainty for both City and owner in the development process; and <br />WHEREAS, the City has found that development agreements strengthen the <br />public planning process, encourage private participation in comprehensive planning by <br />providing a greater degree of certainty in that process, reduce the economic costs of <br />development, allow for the orderly planning of public improvements and services, <br />allocate costs to achieve maximum utilization of public and private resources in the <br />development process, and ensure that appropriate measures to enhance and protect <br />the environment are achieved; and <br />WHEREAS, the City enters into this Development Agreement pursuant to the <br />provisions of the Government Code and applicable City policies; and <br />WHEREAS, AC 2525 Main, LLC ("Applicant") seeks to develop the Addington <br />Multi -Family Residential Project ("proposed Project"), originally proposed as a 496-unit <br />multi -family project on a 5.93-acre site at 2525 North Main Street in Santa Ana, <br />California ("Project Site'); and <br />WHEREAS, during the entitlement and environmental review process, and in <br />response to comments and concerns raised by the public and the City's elected <br />officials, the Applicant has proposed modifications to the original proposal; and <br />WHEREAS, the Project as currently proposed now entails, among other things, <br />(1) demolition of the existing 81,172 square foot vacant two-story office building and <br />442-space surface parking lot on the Project Site; (2) redevelopment of the 5.93-acre <br />site with 444,534 square feet of total development, including 277,281 square feet of <br />residential buildings that would provide 256 for -rent multi -family residential units and a <br />Ordinance NS-2979 <br />Page 1 of 10 <br />#191680 <br />11 A-6 <br />