60A - 2ND READING NO. 2018-01 2525 MAIN

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REQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: JANUARY 21, 2020 TITLE: ORDINANCE SECOND READING: APPROVING DEVELOPMENT AGREEMENT NO. 2018-01 WITH AC 2525 MAIN, LLC AND AMENDMENT APPLICATION NO. 2018-10 TO ESTABLISH SPECIFIC DEVELOPMENT NO. 93 (SD-93) FOR 2525 NORTH MAIN STREET; OR DIRECT STAFF TO PREPARE AN INITIATIVE MEASURE FOR CITY COUNCIL CONSIDERATION AT THE NEXT REGULAR MEETING {STRATEGIC PLAN NO. 3,21 /s/Kristine CITY MANAGER CLERK OF COUNCIL USE ONLY: UTION ffeAWW ❑ As Recommended ❑ As Amended ❑ Ordinance on 111 Reading ❑ Ordinance on 2n° Reading ❑ Implementing Resolution ❑ Set Public Hearing For_ CONTINUED TO FILE NUMBER RECOMMENDED ACTION It is recommended that the City Council consider one of the following options: 1. Conduct second readings of the ordinances and adopt M 2. Discuss and direct staff to prepare an initiative measure for City Council consideration at the next regular meeting to submit the proposed zone change and development agreement to the voters of Santa Ana in accordance with California Elections Code Section 9222. DISCUSSION This proposed second readings of the ordinances was continued from the City Council regular meeting of December 17, 2019. At the December 17th meeting, a member of the public submitted two pages from a 51-page economic analysis and the City Council asked staff to review the submission and agendize the second readings at a subsequent meeting. On December 19, 2019, staff provided the City Council a written memorandum addressing the two -page submission. (Exhibit 1). The two -page submission was an excerpt from a Concord Group 51-page economic analysis commissioned by the applicant. The project identified in the analysis , also referred to as "2525 Main," was a project located in the City of Irvine within the Irvine Business Complex (IBC). The applicant submitted the Concord Study as part of its project application. 60A-1