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i <br /> PREDEVELOPMENT AGREEMENT- AGENCY PARCELS <br /> This Predevelopment Agreement ("Agreement") is entered into as of December <br /> 2009 (herein referred to as the "Effective Date") by and between Community <br /> Redevelopment Agency of the City of Santa Ana (the "Agency"), and The Related <br /> Companies of California, LLC, a California limited liability company and Griffin Realty <br /> Corporation, a California Corporation Qointly, the "Developer") on the terms and <br /> provisions set forth below and with reference to the following: <br /> RECITALS <br /> A. The Agency is studying redevelopment of a portion of its merged project area <br /> consisting of approximately 94 acres (the "District") in conjunction with studies being <br /> undertaken by the City of Santa Ana (the "City") for new transportation projects in and <br /> around the Santa Ana Regional Transportation Center (the "SARTC"). The District and <br /> SARTC are depicted in Exhibit A hereto which is incorporated herein by this reference; <br /> and, <br /> B. Within the western portion of the District, the Agency owns 48 parcels of land <br /> constituting approximately 6.76 acres depicted in Exhibit B hereto which is incorporated <br /> herein by this reference (the "Agency Parcels"), <br /> C. The Developer has submitted a proposal to the Agency to redevelop the <br /> Agency Parcels as well as to assist the Agency in strategic planning with respect to the <br /> District as a whole; and, <br /> D. The Developer and the Agency mutually seek to negotiate the terms and <br /> conditions of one or more agreements by which the Developer will obtain the right to <br /> acquire and develop the Agency Parcels and be designated as the master developer of <br /> other parcels within the District to be potentially acquired by the Agency and/or the <br /> Developer; and, <br /> E. The Agency and the Developer seek to enter into an agreement documenting <br /> the anticipated scope of development for the Agency Parcels which will provide for <br /> reimbursement by the Agency of certain predevelopment costs of the Developer in the <br /> event a final project for the Agency Parcels is not approved by the Agency. By separate <br /> agreement, the Agency and the Developer will determine the responsibilities of the <br /> parties regarding the strategic planning for the larger District development. <br /> NOW, THEREFORE, the Agency and the Developer hereby agree as follows: <br /> 1. Nature and Identity of the Developer <br /> The Developer is currently composed of The Related Companies of California, <br /> <br /> LLC and Griffin Realty Corporation. Subject to the terms of Section 14 hereof, this <br /> 1 <br /> 80A-17 <br /> <br />