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<br />. <br /> <br />DEVELOPMENT AGREEMENT BETWEEN <br />THE CITY OF SANTA ANA uel <br />ONE BROADWAY PLAZA. LLC. <br />1280 N. MAIN, u.c, and <br />845 BROADWAY, LLC <br /> <br />This DBVBLOPMBNT AGREEMENT ("Agreement'') is entered into between <br />THE CITY OF SANTA ANA, a charter city and municipal corporation duly authorized under the <br />Coustitutìon and laws of the State of CaJifomia ("CitY') on the one hand. andONB <br />BRQADW A Y PLAZA, LLC, 1200 N. MAIN u.c, ànd 84S BROADWAY LLC, each ofwhicb <br />is a California Limited Liability Company (collectively referred to herein as ~~ or <br />"Property OYmer"), on the other hand. <br /> <br />1. <br /> <br />RECITALS. The Agreement is entered into with reference to tbe following <br /> <br />facts: <br /> <br />. <br /> <br />1.1 Agreemeat. Tbepurpoae oftbis agreement was to 1àcilitato the <br />development of the 37 story, 518,000 8q\18æ foot. Class A ofticebuilding and usociatedparking <br />structure and ancillary commercial development contcmp1ated by the City's Specific Design <br />Zoning Designation SD-7S, Bnvironmeøta1Impact Report No. 99-01, General Plan Amoodment <br />No. 2004--01 and Zoning Ordinance Amendment No. 2004-02 (the "Pre-Bxisting Approval <br />Entitlements"). <br /> <br />1.2 Code AathorizatioD. City is authorized pumant to Government Code <br />Sections 65864 through 65869.5 to enter into Dcwe10pment Agreements with persons having <br />lega1 or equitable interests in real property for the purpose of establis1ûng certainty for both City <br />and Owner in the development process. City e.ntm into the Agreement pursuant to the <br />provisions of the Government. Code and applicable City policies. The parties acknowledge: <br /> <br />(1) This Agreement is intended to assure adequate public facilities at <br />the time of development. <br /> <br />(2) This Agreement is intended to ~ development in accordance <br />with City's Geoera1P18ny applicable SpecifiçPlans and Specific Development District No. 75. <br /> <br />(3) This Agreement will permit achievement of goals and objectives as <br />retleded in the City's General Plan, all applicable SpcçìficPlans and Specific Development <br />District No. 7S. <br /> <br />(4) Owner is required by existing City regulations to provide <br />mitigation for certain impacts and pay certain regulatoty fees as conditions of approvals through <br />the regulatory process. <br /> <br />. <br /> <br />(ff <br />(É5) <br /> <br />Ordinance No. NS-2656 <br />Page 5 of 45 <br />