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<br />ORDINANCE NO. NS-2700 <br /> <br />AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING A DEVELOPMENT AGREEMENT <br />BETWEEN THE CITY OF SANTA ANA AND STEADFAST <br />COURTYARDS, L.P. <br /> <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA ORDAINS AS FOLLOWS: <br /> <br />SECTION 1: The City Council hereby finds, determines and declares as follows: <br /> <br />A. The City is authorized pursuant to Government Code Sections 65864 <br />through 65869.5 to enter into development agreements with persons having legal or <br />equitable interests in real property for the purpose of establishing certainty for both City <br />and owner in the development process. <br /> <br />B. The City enters. into this Development Agreement pursuant to the <br />provisions of the Government Code and applicable City policies. <br /> <br />C. The Planning Commission has, following a duly noticed public hearing, on <br />September 12, 2005, recommended approval of this Development Agreement. <br /> <br />E. Entering into this Development Agreement would provide the City with <br />extraordinary and significant benefits that are of regional significance, relate to existing <br />deficiencies in public facilities, require the owners of the Cordoba for-sale condominium <br />project to contribute a greater percentage of benefits than would otherwise be required, <br />and represent benefits which would not otherwise be required as part of the <br />development process. <br /> <br />F. The City Council has held a noticed public hearing on this Ordinance, and <br />has considered all testimony presented thereto. <br /> <br />G. The City Council has, on October 3, 2005, approved a mitigated negative <br />declaration in conjunction with this Project and adopted a mitigation monitoring plan. <br /> <br />SECTION 2: The Development Agreement, a true and correct copy of which is <br />attached hereto as Exhibit 1, is hereby approved, and the City Manager and Clerk of the <br />Council are authorized to execute it on behalf of the City. The Clerk of the City is hereby <br />authorized and directed to cause this Development Agreement to be recorded with the <br />County Recorder's Office. <br /> <br />SECTION 3: This ordinance shall not be effective unless and until the ordinance <br />approving Amendment Application No. 2005-07 (SD-79) and the resolution approving <br />Environmental Review No. 2005-18, Tentative Tract Map No. 2005-08, and Site Plan <br /> <br />11 A-14 <br />