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<br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />~ <br />~ <br /> <br />CITY COUNCIL MEETING DATE: <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />APRIL 17, 2006 <br />TITLE: <br /> <br />APPROVED <br /> <br />o As Recommended <br />o As Amended <br />o Ordinance on 1 st Reading <br />o Ordinance on 2nd Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />APPROPRIATION ADJUSTMENT AND <br />AMENDMENT TO VARIOUS <br />AGREEMENTS AND LAND EXCHANGES <br />RELATING TO BOWERS MUSEUM <br />EXPANSION AND STEADFAST <br /> <br /> <br />COURT(ll!.{1~ <br /> <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />1. Approve an appropriation adjustment to recognize $750,000 from <br />Steadfast Courtyards, L.P. to pay a portion of the cost of the Bowers <br />Museum's new north parking lot. <br /> <br />2. Approve an amendment to the Land Exchange Agreement between the City <br />of Santa Ana and Steadfast Courtyards, L.P. <br /> <br />3. Approve First Amendment to the Ground Lease and Second Amendment of <br />the Amended and Restated Operating Agreement between the City of Santa <br />Ana and the Charles W. Bowers Museum Corporation. <br /> <br />DISCUSSION <br /> <br />In September 2005, the City Council and Redevelopment Agency approved and <br />authorized several actions to facilitate the 30,000 square feet expansion <br />of the Bowers Museum. As part of the expansion, the City effectuated a <br />land exchange with Steadfast, the residential developer who owns the <br />property immediately north of the Museum. Under the exchange, Steadfast <br />will develop a luxury condominium proj ect on the Museum's existing 20th <br />Street parking lot, and the museum will be expanded upon the former <br />Steadfast parcel. <br /> <br />Amendments to the Land Exchange Agreement, the Amended and Restated <br />Operating Agreement, and Ground Lease are needed in order to fulfill the <br />land exchange and development of the Bowers Museum expansion and <br />Steadfast's Cordoba proj ect. Changes to the agreements call for the <br />following actions to occur: <br /> <br />20A-1 <br />