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DEVELOPMENT AGREEMENT NO.2025-01 <br /> This Development Agreement("Agreement")is entered into as of this E day of <br /> 2025 by and between the City of Santa Ana, California("City")on the one hand, and South Coast Plaza, a <br /> California general partnership("Owner"or"SCP"), on the other hand. City and Owner may be referred <br /> to in this Agreement individually as a"party"or collective as the"parties." <br /> RECITALS <br /> A. City is authorized to enter into binding development agreements with persons having legal or <br /> equitable interests in real property for the development of such property, pursuant to Section <br /> 65864, et seq. of the Government Code. <br /> B. This Agreement constitutes a current exercise ofCity's police powers to provide predictability to <br /> SCP in the development approval process by vesting the permitted uses, density, intensity of use, <br /> timing and phasing of development,and applicable ordinances consistent with the Development <br /> Plan in exchange for SCP's commitment to provide significant public benefits to City as set forth <br /> in Section 4 below. <br /> C. SCP has requested that City enter into this Agreement and proceedings have been taken in <br /> accordance with applicable State law and the rules and regulations of the City in furtherance <br /> thereof. <br /> D. The best interests of the citizens of the City of Santa Ana and the public health, safety and <br /> welfare will be served by entering into this Agreement. <br /> E. The City Council hereby finds and determines that this Agreement is of major significance <br /> because it will provide significant economic benefit to the City through additional jobs created by <br /> the construction and operation of the Project,property and sales tax revenue to the City, <br /> infrastructure improvements, neighborhood revitalization, and general economic benefit. <br /> F. The provision by SCP of the public benefits as set forth in Section 4 below allows the City to <br /> realize significant economic,recreational,open space, educational, social, and other public <br /> benefits to City. These public benefits will advance the interests and meet the needs of Santa Ana <br /> residents and visitors to a significantly greater extent than would development of the Property <br /> without this Agreement. <br /> G. The physical effects, if any, of the Project and this Agreement have been analyzed pursuant to the <br /> California Environmental Quality Act as amended to date and as documented in the Final <br /> Environmental Impact Report entitled"Village Santa Ana Specific Plan Final Supplemental <br /> Environmental Impact Report(State Clearinghouse No.XXXXX) and City of Santa Ana DP No. <br /> ("Project FEIR"). <br /> H. This Agreement and the Project are consistent with the Santa Ana General Plan. <br /> 1. All actions taken and approvals given by City have been duly taken or approved in accordance <br /> with all applicable legal requirements for notice,public hearings, findings,votes,and other <br /> procedural matters. <br /> Ordinance No. NS-3087 <br /> Page 8 of 41 <br />