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Station District Predevelopment Agreements <br /> December 7, 2009 <br /> Page 2 <br /> developer for the Station District and authorized the Executive Director <br /> to negotiate and enter into a Predevelopment Agreement for planning and <br /> development purposes. The Station District is a 94-acre area anchored <br /> by the Santa Ana Regional Transportation Center and numerous parcels the <br /> Agency/City have acquired over the past 10 years along the Santa Ana <br /> Boulevard corridor (see Exhibit 1). This corridor is a key connection <br /> from the I - 5 f reeway into the Downtown, and wil l also serve as a major <br /> transportation link for the planned Go Local Fixed Guideway System. <br /> Upon selection, the Developer began working with staff to negotiate the <br /> terms of the predevelopment agreement(s), while moving forward with the <br /> initial community outreach effort, which entailed gathering input on the <br /> development of the 48 Agency-owned parcels (approximately 6.76 acres) as <br /> well as the larger Station District enhancement strategy. Given the <br /> differing time frames and particulars associated with these two areas of <br /> focus, separate predevelopment agreements are proposed for the 48 <br /> parcels and the Station District as a whole. <br /> The Agency Parcels Predevelopment Agreement calls for the parties to <br /> negotiate (for up to two years), the terms and conditions of one or more <br /> agreements in which the Developer will obtain the right to acquire and <br /> develop the Agency parcels. The project is to take into consideration <br /> the affordable housing goals of the City and Agency, community input, <br /> design and economic feasibility. The development is anticipated to be <br /> predominantly multi-family residential rental units with a blending of <br /> single family for sale product. Provisions for open space and/or <br /> community-serving facilities, as well as retail/service and/or live-work <br /> components will also be considered. The concept plan is underway, and <br /> anticipated to be presented for community input in January. <br /> During the term of the Agreement, a scope and schedule of development, <br /> detailed project pro forma and financing plan will be negotiated. The <br /> developer will also be responsible for submitting and processing <br /> applications for all necessary entitlements for the development. The <br /> Developer will be advancing all third-party consultant costs (except <br /> CEQA or NEPA costs which are the responsibility of the Agency) for the <br /> outreach, site planning and development services. The Agency will have <br /> an obligation to reimburse the third-party costs associated with the <br /> <br /> Agency-owned parcels to a maximum of $200,000 if the Agency fails to <br /> approve a Disposition and Development Agreement. <br /> It is anticipated the entitlements for the 48 parcels will be finalized <br /> <br /> by June 2010 in order to meet the affordable housing tax credit <br /> application deadline. The strategy for the larger district area will be <br /> developed concurrently; however, given the more extensive land area and <br /> 80A-2 <br /> <br />