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2 <br /> <br />Background <br />On July 22, 2019, MainPlace Shoppingtown, LLC entered into a development agreement with the City of Santa Ana <br />(Development Agreement No. 2018-02). As required by the agreement, ownership must submit an annual monitoring <br />report detailing the status of the development of MainPlace and the new tax revenue generated by the project. <br /> <br />The Annual Review shall include a progress report on the status of the implementation of the project and the new tax <br />revenue generated by the Project, including, but not limited to, the following: site development, public infrastructure, <br />project design features, community benefits, plaza, hotel, residential, commercial, office, parking, and philanthropic <br />activities. <br /> <br /> <br />Completed Projects <br /> Parcel 5 - Multifamily Development <br />This project, named Paloma at MainPlace, includes the design and construction of a 5-story multifamily wrap apartment <br />with 309 market-rate units and a 511-stall residential parking structure. To build this structure, the entry drive from <br />MainPlace Drive was realigned to allow for right angle intersection orientation and existing utilities were relocated and <br />realigned. Relocation of existing sewer, water, storm drain, and fire water utilities were required to maintain alignment <br />within the new drive. The entry drive has been repaved and restriped as needed. <br />The multifamily development has quartz countertops in all the units along with stainless steel appliances. <br />Amenities include a pool deck, passive courtyard, an outdoor kitchen, fitness lawn, dog run and a 2-level fitness studio. <br />Pedestrian paths of travel along the exterior of the building incorporate enhanced concrete, enhanced landscaping, <br />handicapped ramps, tactile warning strips, and crosswalks with pavers in the ring road. <br />Status: <br />This project had its grand opening on September 24th, 2023. <br /> <br /> Projects Actively Under Review <br />Live Entertainment Venue <br />The 73,000-sf contemplated entertainment venue will be adjacent to the Paloma-facing MainPlace Drive with unique <br />architecture visible from the Santa Ana Fwy. This venue is modifiable for smaller concerts and large crowds, with capacity <br />of up to 4,000 with offsetting peak usage times from MainPlace inline retail and adjacent office development. Therefore, <br />the parking facilities on parcels 7 and 8 will facilitate parking requirements, as well as a dedicated pick-up/drop-off area <br />and rideshare lanes in close proximity. <br />Status: Lease discussions are still in progress between ownership and several prospective tenants. Design phases and <br />pre-construction work are completed but will need to be updated once a deal is executed. <br />