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T51+ i� <br />Janaury 17, 2020 <br />VIA ELECTRONIC MAIL <br />Santa Ana City Council <br />Attn: Cleric of the Council (dgomcz@santa-ana.org) <br />20 Civic Center Plaza <br />P.O. Box 1988, M31 <br />Santa Ana, CA 92701 <br />Re: 2525 N, Main Street Multi -Family Project <br />(Addington Multifamily Residential Project) <br />Honorable Mayor Pulido and Members of the City Council: <br />Susan K. Hod <br />Manatt, Phelps & Phillips, LLP <br />Direct Dial: (714) 371.2528 <br />E-mall; shori@manatt.com <br />This letter is submitted on behalf of our client, AC 2525 Main, LLC ("Applicant"), the <br />Applicant for the Addington multifamily project at 2525 N. Main Street (the "Project"), in <br />response to comments made by Christine Denny-Helvig at the December 17, 2019, City Council <br />hearing for the 2nd reading of the Project ordinances. Ms. Helvig's comments implied that the <br />Applicant's original proposal to construct a 517 emit multi -family project was a sham as the <br />Applicant never intended to construct that project. Rather, she criticized the considerable <br />reduction in Project density offered by the Applicant by claiming that the Applicant intended to <br />only build 272 units. Her comments were as follows: <br />"In November 2017, you have the paperwork in front ofyou, at the request of the <br />developer an economic analysis was delivered by the Concord Group for the 2525 Main <br />Street property showing a 100% likelihood of delivering a projected 272 market rate <br />units in 2019, not 517, 272 units. " She went on to say "so let's look at what the <br />developer gave up from their original projection of 272 units, they gave up 16 units, They <br />didn't come down by half They came to the table with twice as many as they originally <br />projected. " <br />Her allegation that a 272 unit project was always the number the Applicant intended to <br />build, not the original proposed 517 units created considerable confusion and caused the City <br />Council to continue the 2nd Reading to January 21, 2020, for clarification, <br />The facts are considerably different. <br />095 Town Center Drive, 14th Floor, Costa Mesa, California 92626-1924 Telephone: 714.371.2500 Fax: 714.371.2550 <br />Albany I Boston I Chicago i Los Angeles I New York I Orange County I Palo Alto i Sacramento I San Francisco I Washington, D.C. <br />